In 2021, the value of gross earning credit and suretyship insurance was three times larger than the value of claims incurred in the 27 countries of the European Union. 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 2021
(in billion euros)
Characteristic
Gross earned premium
Gross claims incurred
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EIOPA. (June 22, 2022). Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2021 (in billion euros) [Graph]. In Statista. Retrieved August 24, 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 2021 (in billion euros)." Chart. June 22, 2022. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/
EIOPA. (2022). Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2021 (in billion euros). Statista. Statista Inc.. Accessed: August 24, 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 2021 (in Billion Euros)." Statista, Statista Inc., 22 Jun 2022, 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 2021 (in billion euros) Statista, https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/ (last visited August 24, 2024)
Value of gross earned premiums and claims incurred in credit and suretyship insurance sector in the European Union (EU-27) from 2020 to 2021 (in billion euros) [Graph], EIOPA, June 22, 2022. [Online]. Available: https://www.statista.com/statistics/1027782/surety-insurance-premiums-and-claims-europe/