Surety Market 2025 By Product, Distribution Channel, Technology, Key Manufacturers | The Insight Partners

Surety Market to 2027 - Global Analysis and Forecasts by Bond Type (Contract Surety Bond, Commercial Surety Bond, Fidelity Surety Bond, and Court Surety Bond)

Publication Month: Jan 2019 | Report Code: TIPRE00002849 | No. of Pages: 130 | Category: Manufacturing and Construction | Status: Published

Global surety market is expected to grow from US$ 15.33 Bn in 2018 to US$ 28.77 Bn in 2027 at a CAGR of 7.5% between 2019 and 2027.

Surety market is experiencing good growth across all the geographical regions of the globe, with the increasing demand for infrastructural development as well as residential construction. Furthermore, the rising adoption of public-private partnership model is another factor fueling the growth of the market.

The report focuses on an in-depth segmentation of the Surety market based on bond type. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By bond type, contract surety bond accounted for the largest share of the surety market in 2018. 

The report aims to provide an overview of the global surety market with detailed market segmentation. Also, it analyzes the current surety market scenario and forecasts the market till 2027. The report covers market dynamics affecting the surety market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the surety market with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the surety market along with their market strategies. The report also provides the SWOT analysis for all company profiled in the report.

Currently, the surety market penetration rates in the North America region is higher than any other markets across the globe. This is attributed to most of U.S. State governments’ laws that mandate surety bonds. Both the U.S. and Canada Surety markets are majorly ruled by insurers, while banks also play a significant role. However, SAM and APAC region are anticipated to grow at the highest CAGR.

The presence of several emerging economies in APAC and SAM region, resulting in growth of the infrastructure sector is influencing the market growth for surety. Also, the rising population of these economies has created a demand for new housing construction thus, propelling the growth of the surety market in the region. The major companies operating in the surety market include AmTrust Financial Services, Inc.; Crum & Forster; CNA Financial Corporation; American Financial Group, Inc.; The Travelers Indemnity Company; Liberty Mutual Insurance Company; Hartford Financial Services Group, Inc.; HCC Insurance Holdings; IFIC Surety Group; and Chubb Limited among others.

TABLE OF CONTENTS

1. INTRODUCTION 11
1.1 SCOPE OF THE STUDY 11
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 11

2. KEY TAKEAWAYS 12

3. SURETY MARKET LANDSCAPE 14
3.1 MARKET OVERVIEW 14
3.2 MARKET SEGMENTATION 16
3.2.1 Global Surety Market – By Bond Type 16
3.2.2 Global Surety Market – By Geography 17
3.3 PEST ANALYSIS 18
3.3.1 North America PEST Analysis 18
3.3.2 Europe PEST Analysis 21
3.3.3 Asia Pacific PEST Analysis 23
3.3.4 Middle East and Africa PEST Analysis 25
3.3.5 South America PEST Analysis 27

4. SURETY MARKET – KEY INDUSTRY DYNAMICS 29
4.1 KEY MARKET DRIVERS 29
4.1.1 Ageing infrastructure of developed economies creating a need for massive investments in its restoration 29
4.1.2 Global acceptance of Public Private Partnership Model anticipated to drive the Surety market growth 30
4.2 KEY MARKET RESTRAINTS 31
4.2.1 Shortage of properly trained underwriter in the Surety Industry 31
4.3 KEY MARKET OPPORTUNITIES 31
4.3.1 Rising need for innovative insurance solutions to offer prosperous opportunity to Surety market 31
4.4 FUTURE TRENDS 32
4.4.1 Adoption of Surety bond by diverse end-use industries 32
4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS 32
 
5. SURETY – GLOBAL MARKET ANALYSIS 33
5.1 GLOBAL SURETY MARKET OVERVIEW 33
5.2 GLOBAL SURETY MARKET FORECAST AND ANALYSIS 35

6. SURETY MARKET REVENUE AND FORECASTS TO 2027 – BOND TYPE 36
6.1 OVERVIEW 36
6.2 GLOBAL SURETY MARKET BREAKDOWN, BY BOND TYPE, 2017 & 2027 36
6.3 CONTRACT SURETY BOND 37
6.3.1 Overview 37
6.3.2 Contract Surety Bond Market Forecasts and Analysis 37
6.4 COMMERCIAL SURETY BOND 39
6.4.1 Overview 39
6.4.2 Commercial Surety Bond Market Forecasts and Analysis 39
6.5 FIDELITY SURETY BOND 40
6.5.1 Overview 40
6.5.2 Fidelity Surety Bond Market Forecasts and Analysis 40
6.6 COURT SURETY BOND 41
6.6.1 Overview 41
6.6.2 Court Surety Bond Market Forecasts and Analysis 41

7. GLOBAL SURETY MARKET – GEOGRAPHICAL ANALYSIS 42
7.1 OVERVIEW 42
7.2 NORTH AMERICA SURETY MARKET REVENUE AND FORECASTS TO 2027 43
7.2.1 North America Surety Market Revenue and Forecasts to 2027 (US$ Bn) 45
7.2.2 North America Surety Market Breakdown, by Key Countries 45
7.2.2.1 U.S. Surety Market Revenue and Forecasts to 2027 (US$ BN) 46
7.2.2.2 Canada Surety Market Revenue and Forecasts to 2027 (US$ Bn) 47
7.2.2.3 Mexico Surety Market Revenue and Forecasts to 2027 (US$ Bn) 48
7.3 EUROPE SURETY MARKET REVENUE AND FORECASTS TO 2027 50
7.3.1 Overview 50
7.3.2 Europe Surety Market Breakdown by Key Countries 51
7.3.2.1 UK Surety Market Revenue and Forecasts to 2027 (US$ Bn) 52
7.3.2.2 Germany Surety Market Revenue and Forecast to 2027 (US$ Bn) 53
7.3.2.3 France Surety Market Revenue and Forecast to 2027 (US$ Bn) 54
7.3.2.4 Spain Surety Market Revenue and Forecast to 2027 (US$ Bn) 55
7.3.2.5 Italy Surety Market Revenue and Forecast to 2027 (US$ Bn) 56
7.3.2.6 Rest of Europe Surety Market Revenue and Forecast to 2027 (US$ Bn) 57
7.3.3 Europe Surety Market Breakdown by Bond Type 57
7.4 ASIA-PACIFIC SURETY MARKET REVENUE AND FORECASTS TO 2027 59
7.4.1 Overview 59
7.4.2 Asia-Pacific Surety Market Breakdown by Key Countries 60
7.4.2.1 South Korea Surety Market Revenue and Forecasts to 2027 (US$ Bn) 61
7.4.2.2 China Surety Market Revenue and Forecast to 2027 (US$ Bn) 62
7.4.2.3 Australia Surety Market Revenue and Forecast to 2027 (US$ Bn) 63
7.4.2.4 Japan Surety Market Revenue and Forecast to 2027 (US$ Bn) 64
7.4.2.5 Rest of APAC Surety Market Revenue and Forecast to 2027 (US$ Bn) 65
7.4.2.6 Asia-Pacific Surety Market Breakdown by Bond Type 65
7.5 MEA SURETY MARKET REVENUE AND FORECASTS TO 2027 67
7.5.1 Overview 67
7.5.2 MEA Surety Market Breakdown by Key Countries 68
7.5.2.1 Saudi Arabia Surety Market Revenue and Forecasts to 2027 (US$ Bn) 68
7.5.2.2 UAE Surety Market Revenue and Forecast to 2027 (US$ Bn) 69
7.5.2.3 South Africa Surety Market Revenue and Forecast to 2027 (US$ Bn) 70
7.5.2.4 Rest of MEA Surety market Revenue and Forecasts to 2027 (US$ Bn) 71
7.5.3 MEA Surety Market Breakdown by Bond Type 71
7.6 SOUTH AMERICA SURETY MARKET REVENUE AND FORECASTS TO 2027 73
7.6.1 Overview 73
7.6.2 SAM Surety Market Breakdown by Key Countries 74
7.6.2.1 Brazil Surety Market Revenue and Forecasts to 2027 (US$ Bn) 75
7.6.2.2 Rest of SAM Surety Market Revenue and Forecasts to 2027 (US$ Bn) 76

8. INDUSTRY LANDSCAPE 78
8.1 MARKET INITIATIVE 78
8.2 MERGER AND ACQUISITION 78

9. COMPETITIVE LANDSCAPE 79
9.1 COMPETITIVE SERVICE MAPPING 79
9.2 MARKET POSITIONING – GLOBAL TOP 5 PLAYERS RANKING 79

10. SURETY MARKET, KEY COMPANY PROFILES 81
10.1 AMTRUST FINANCIAL SERVICES, INC. 81
10.1.1 Key Facts 81
10.1.2 Business Description 81
10.1.3 Financial Overview 82
10.1.4 SWOT Analysis 82
10.1.5 Key Developments 84
10.2 CRUM & FORSTER 85
10.2.1 Key Facts 85
10.2.2 Business Description 85
10.2.3 Financial Overview 86
10.2.4 SWOT Analysis 86
10.2.5 Key Developments 87
10.3 CNA INSURANCE GROUP. 88
10.3.1 Key Facts 88
10.3.2 Business Description 88
10.3.3 Financial Overview 89
10.3.4 SWOT Analysis 89
10.3.5 Key Developments 91
10.4 AMERICAN FINANCIAL GROUP, INC. (AFG) 92
10.4.1 Key Facts 92
10.4.2 Business Description 92
10.4.3 Financial Overview 93
10.4.4 SWOT Analysis 93
10.4.5 Key Developments 95
10.5 THE TRAVELERS INDEMNITY COMPANY 96
10.5.1 Key Facts 96
10.5.2 Business Description 96
10.5.3 Financial Overview 97
10.5.4 SWOT Analysis 97
10.5.5 Key Developments 98
10.6 LIBERTY MUTUAL INSURANCE COMPANY 99
10.6.1 Key Facts 99
10.6.2 Business Description 99
10.6.3 Financial Overview 100
10.6.4 SWOT Analysis 100
10.6.5 Key Developments 101
10.7 HARTFORD FINANCIAL SERVICES GROUP, INC. 102
10.7.1 Key Facts 102
10.7.2 Business Description 102
10.7.3 Financial Overview 103
10.7.4 SWOT Analysis 103
10.7.5 Key Developments 105
10.8 HCC INSURANCE HOLDINGS, INC. (TOKIO MARINE & NICHIDO FIRE INSURANCE CO., LTD.) 106
10.8.1 Key Facts 106
10.8.2 Business Description 106
10.8.3 Financial Overview 107
10.8.4 SWOT Analysis 107
10.8.5 Key Developments 109
10.9 IFIC SURETY GROUP 110
10.9.1 Key Facts 110
10.9.2 Business Description 110
10.9.3 Financial Overview 111
10.9.4 SWOT Analysis 111
10.9.5 Key Developments 112
10.10 CHUBB LIMITED 113
10.10.1 Key Facts 113
10.10.2 Business Description 113
10.10.3 Financial Overview 114
10.10.4 SWOT Analysis 114
10.10.5 Key Developments 116

11. APPENDIX 117
11.1 ABOUT THE INSIGHT PARTNERS 117
11.2 GLOSSARY 117
11.3 METHODOLOGY 118
11.3.1 COVERAGE 118
11.3.2 Secondary Research 118
11.3.3 Primary Research 119
 
LIST OF TABLES

TABLE 1. GLOBAL SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 35
TABLE 2. GLOBAL SURETY MARKET REVENUE AND FORECASTS TO 2027 – BY REGIONS (US$ BN) 42
TABLE 3. NORTH AMERICA SURETY MARKET REVENUE AND FORECASTS TO 2027 – BY BOND TYPE (US$ BN) 49
TABLE 4. EUROPE SURETY MARKET REVENUE AND FORECASTS TO 2027 – BY BOND TYPE (US$ BN) 58
TABLE 5. ASIA-PACIFIC SURETY MARKET REVENUE AND FORECASTS TO 2027 – BY BOND TYPE (US$ BN) 66
TABLE 6. MEA SURETY MARKET REVENUE AND FORECASTS TO 2027 – BY BOND TYPE (US$ BN) 72
TABLE 7. SOUTH AMERICA SURETY MARKET REVENUE AND FORECASTS TO 2027 – BY BOND TYPE (US$ BN) 77
TABLE 8. GLOSSARY OF TERMS, SURETY MARKET 117
 
LIST OF FIGURES

FIGURE 1. APAC SURETY MARKET, TOTAL REVENUE (US$ BN), 2017 & 2027 12
FIGURE 2. CONTRACT SURETY BOND MARKET, BY REVENUE (US$ BN), 2017 & 2027 13
FIGURE 3. SURETY MARKET SEGMENTATION 16
FIGURE 4. NORTH AMERICA – PEST ANALYSIS 18
FIGURE 5. EUROPE – PEST ANALYSIS 21
FIGURE 6. ASIA PACIFIC – PEST ANALYSIS 23
FIGURE 7. MIDDLE EAST AND AFRICA – PEST ANALYSIS 25
FIGURE 8. SOUTH AMERICA – PEST ANALYSIS 27
FIGURE 9. SURETY MARKET IMPACT ANALYSIS OF DRIVER AND RESTRAINTS 32
FIGURE 10. GLOBAL SURETY MARKET 33
FIGURE 11. GLOBAL SURETY MARKET FORECAST AND ANALYSIS, (US$ BN) 35
FIGURE 12. SURETY MARKET BREAKDOWN, BY BOND TYPE, 2017 & 2027 (%) 36
FIGURE 13. CONTRACT SURETY BOND MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 38
FIGURE 14. GLOBAL COMMERCIAL SURETY BOND MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 39
FIGURE 15. FIDELITY SURETY BOND MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 40
FIGURE 16. COURT SURETY BOND MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 41
FIGURE 17. SURETY MARKET, GLOBAL BREAKDOWN BY GEOGRAPHY, 2017 & 2027 (%) 42
FIGURE 18. NORTH AMERICA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 45
FIGURE 19. NORTH AMERICA SURETY MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2027(%) 45
FIGURE 20. U.S. SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 46
FIGURE 21. CANADA SURETY SYSTEM MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 47
FIGURE 22. MEXICO SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 48
FIGURE 23. NORTH AMERICA SURETY MARKET BREAKDOWN BY BOND TYPE, 2017 & 2027 (%) 49
FIGURE 24. EUROPE SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 50
FIGURE 25. EUROPE SURETY MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2027 (%) 51
FIGURE 26. UK SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 52
FIGURE 27. GERMANY SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 53
FIGURE 28. FRANCE SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 54
FIGURE 29. SPAIN SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 55
FIGURE 30. ITALY SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 56
FIGURE 31. REST OF EUROPE SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 57
FIGURE 32. EUROPE SURETY MARKET BREAKDOWN BY BOND TYPE, 2017 & 2027 (%) 57
FIGURE 33. ASIA-PACIFIC SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 59
FIGURE 34. ASIA-PACIFIC SURETY MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2027 (%) 60
FIGURE 35. SOUTH KOREA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 61
FIGURE 36. CHINA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 62
FIGURE 37. AUSTRALIA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 63
FIGURE 38. JAPAN SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 64
FIGURE 39. REST OF APAC SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 65
FIGURE 40. ASIA-PACIFIC SURETY MARKET BREAKDOWN BY BOND TYPE, 2017 & 2027 (%) 65
FIGURE 41. MEA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 67
FIGURE 42. MEA SURETY MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2027 (%) 68
FIGURE 43. SAUDI ARABIA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 68
FIGURE 44. UAE SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 69
FIGURE 45. SOUTH AFRICA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 70
FIGURE 46. REST OF MEA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 71
FIGURE 47. MEA SURETY MARKET BREAKDOWN BY BOND TYPE, 2017 & 2027 (%) 71
FIGURE 48. SAM SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 73
FIGURE 49. SAM SURETY MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2027(%) 74
FIGURE 50. BRAZIL SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 75
FIGURE 51. REST OF SAM SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ BN) 76
FIGURE 52. SOUTH AMERICA SURETY MARKET BREAKDOWN BY BOND TYPE, 2017 & 2027 (%) 76

The List of Companies

1. AmTrust Financial Services, Inc.
2. Crum & Forster
3. CNA Financial Corporation
4. American Financial Group, Inc.
5. The Travelers Indemnity Company
6. Liberty Mutual Insurance Company
7. Hartford Financial Services Group, Inc.
8. HCC Insurance Holdings
9. IFIC Surety Group
10. Chubb Limited




 


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