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Credit Solutions: Q3 2023 Market Insights Report

Our Credit Market Insights Report aims to help decision makers navigate credit risks and credit insurance market dynamics.

This edition considers the evolution in the credit insurance market so far this year and highlights some of the key trends for the remainder of 2023.

The outlook for the global economy remains under a close negative-watch and as credit conditions tighten, liquidity will be harder to come-by, leading to higher levels of business failures and possible domino effects through contagion. As anticipated, global trade credit carriers are reporting increased claims ratios so far in 2023. Carrier appetite has remained healthy with total potential exposure levels in the market remaining at historic highs. As the year plays out, we might expect credit insurance pricing and capacity to adapt quickly to the economic cycle, as insolvencies and associated covered claims accelerate.

Earlier this year the market experienced a significant loss event through the failure of Brazilian retailer Lojas Americanas. Confidence in the banking sector was also shaken firstly by the failure of Silicon Valley Bank (SVB) and subsequently the government-brokered deal of UBS buying Credit Suisse. Such events will form part of a new reality that the credit solutions market will have to dynamically adapt to, whilst driving higher demand for solutions and capacity as Corporates and Financial Institutions look to de-risk their portfolios.

Credit solutions are an important tool in enhancing the ability of both financial institutions and corporates to manage risk.”

Joseph Stiglitz
Nobel Prize Economist Professor, at Aon’s 2022 Credit Solutions Conference

Access our Q3 report to discover:

  • Lending and trading under turbulence
  • Credit insurance market trends and credit limit approval rates
  • Spotlight on Financial Institutions and the specific needs of Japanese conglomerates
  • Our expert insights into future trends and key considerations

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