In 2023, the value of gross earning credit and suretyship insurance premiums were twice as high as the value of claims incurred in the 27 countries of the European Union. In that year, gross earned premiums amounted to 3.5 billion euros in comparison with 1.7 billion euros in gross claims incurred. This type of insurance is commonly used for construction projects to ensure that the contractual obligations will be met. The cost of large construction projects can reach billions and suretyship insurance can increase the financial security of the parties.
Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2023
(in billion euros)
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EIOPA. (June 27, 2024). Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2023 (in billion euros) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/
EIOPA. "Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2023 (in billion euros)." Chart. June 27, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/
EIOPA. (2024). Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2023 (in billion euros). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/
EIOPA. "Value of Gross Earned Premiums and Claims Incurred in Credit and Suretyship Insurance Sector in The European Union (Eu-27) from 2020 to 2023 (in Billion Euros)." Statista, Statista Inc., 27 Jun 2024, https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/
EIOPA, Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2023 (in billion euros) Statista, https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/ (last visited December 22, 2024)
Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2023 (in billion euros) [Graph], EIOPA, June 27, 2024. [Online]. Available: https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/
