Global trade credit insurance claims dropped in volume and value in 2025, according to an annual market survey published today by the Lloyd’s Market Association, International Underwriting Association and London and International Insurance Brokers’ Association.

Just 185 claims were reported globally, totalling over £320m – a drop of nearly 25% in total claim value over the previous year. Despite the decline, the survey showed claims were paid promptly in the vast majority of cases, with less than 1% delayed beyond the contractual deadline.

Africa remained the most prominent region for claims activity, accounting for 71% of reported cases. The public sector was more frequently involved than the private sector, responsible for 72% of claims, although the overall payout was split more evenly by value.

The five most costly areas for insurers were crop support services, chemical and fertiliser mining, water construction projects, road construction, and oil and gas extraction support.

Commenting on the findings, David Powell, head of technical underwriting at the LMA, said: “Trade credit insurance plays a crucial role in enabling global trade – giving exporters the confidence to invest in exporting goods and services and in backing large-scale infrastructure and construction projects.

"Worldwide, it provides a vital safety net to permit trade in goods and services. This is especially evident in regions like Africa, where infrastructure investment remains critical but comes with an increased level of risk. Even in these challenging environments, insurers continue to provide protection and to pay claims reliably when they occur.”

Joe Shaw, director of claims at the IUA, added: “Trade credit insurance offers several advantages beyond simply protecting against non-payment. It facilitates business growth and improves access to financing. IUA member companies are prominently involved in providing such cover. The data from our latest survey clearly illustrates the reliability of their solutions, enabling businesses to extend credit with confidence, expand into new markets, and secure better financing terms.”

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