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Draft:International Credit Insurance and Surety Association

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International Credit Insurance and Surety Association
AbbreviationICISA
Formation1928
HeadquartersAmsterdam
Location
ServicesIndustry information and analysis
FieldsTrade insurance, surety, reinsurance
Membership
58
Executive Director
Richard Wulff
Websitehttps://icisa.org/
Formerly called
ICIA

The International Credit Insurance and Surety Association (ICISA) is an international trade association for companies that provide private trade credit insurance, reinsurance and surety bonds. Its secretariat, based in Amsterdam, publishes reports and organizes events that provide information and analysis about the state of the credit insurance industry and its role in the global economy.

History

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Eight companies founded the International Credit Insurance Association (ICIA) in 1928, as a result of the first international conference on trade and credit insurance, held in London in 1926.[1][2] Five of the founding members (Cobac of Belgium, Hermes of Germany, SFAC of France, SIAC of Italy and Trade Indemnity of the United Kingdom) were all eventually absorbed into Allianz Trade. The other three founding members are Crédito y Caución [es] from Spain; Eidgenössische (now Winterthur) from Switzerland and Nederlandsche Credietverzekering Maatschappij (NCM, now Atradius) from the Netherlands.

The ICISA membership increased steadily and in the 1950s, the association opened to companies providing surety bonds.[3] In 2000, the Association accepts companies providing reinsurance.[4]

Organization

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The ICISA Secretariat is headquartered in Amsterdam. The association acts as a platform for exchange among members, promotes collaboration between insurance companies and external stakeholders from finance industry, such as regulators and policy makers, banks, academia and other related associations. ICISA is member of the Digital Standards Initiative led by the International Chamber of Commerce and the Expert Group on Enhanced Coordination of External Financial Tools of the European Commission.[5][6]

Publications

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The ICISA secretariat publishes books and reports that provide statistics and analysis of the credit insurance industry and its role in the global economy.[7][8] For some publications, ICISA collaborates with the Berne Union, a sister organization for Export Credit Agencies.[9][10]

  • ICISA (2007) Catalogue of Trade Credit Terminology[11]
  • ICISA (2015). A Guide to Trade Credit Insurance. Anthem Press.

Membership

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By 2024, the organization had 58 members. In 2023, together they provided risk protection amounting to 16.3 billion euros.[12][13]

Current members
Company Trade credit insurance Surety bonds Reinsurance
Active Re Green checkmarkY
Afianzadora Latinoamericana Green checkmarkY
AIG Green checkmarkY
Allianz Trade Green checkmarkY Green checkmarkY Green checkmarkY
Antares Re Green checkmarkY
Arch Re Europe Green checkmarkY
Aserta Green checkmarkY
Atradius Green checkmarkY Green checkmarkY
Aviva Green checkmarkY
Axa Switzerland Green checkmarkY Green checkmarkY
Axa XL Green checkmarkY
Axis Capital Green checkmarkY Green checkmarkY
Azuaga Seguros Green checkmarkY
BTG Pactual Green checkmarkY
CCR Re Green checkmarkY
Cesce Green checkmarkY Green checkmarkY
China National Investment

& Guarantee Corporation

Green checkmarkY
Chubb Limited Green checkmarkY
CLAL Green checkmarkY
Coface Green checkmarkY Green checkmarkY
Credendo Green checkmarkY Green checkmarkY
CGIC Green checkmarkY Green checkmarkY
Devk Re/Echo Re Green checkmarkY
Exim Thailand Green checkmarkY
Fianzas y Cauciones Atlas Green checkmarkY
Green Stars BNP Paribas Green checkmarkY
Groupama Green checkmarkY Green checkmarkY
Hannover Re Green checkmarkY
ICIC Green checkmarkY Green checkmarkY
Insurety Green checkmarkY Green checkmarkY Green checkmarkY
Intact Insurance Green checkmarkY Green checkmarkY
Interamerican Green checkmarkY
KazakhExport Green checkmarkY
Liberty Mutual Green checkmarkY Green checkmarkY Green checkmarkY
Mitsui Sumitomo Green checkmarkY Green checkmarkY
MS Reinsurance Green checkmarkY
Munich Re Green checkmarkY Green checkmarkY
Navigators Re Green checkmarkY
Partner Re Green checkmarkY
Peak Re Green checkmarkY
PICC Green checkmarkY Green checkmarkY
Ping An Green checkmarkY
QBE Green checkmarkY Green checkmarkY
R+V Re Green checkmarkY
Renaissance Re Green checkmarkY
S2C Green checkmarkY
Sace BT Green checkmarkY Green checkmarkY
SCOR Green checkmarkY
SGIC Green checkmarkY Green checkmarkY
Sofimex Green checkmarkY Green checkmarkY
Sompo Green checkmarkY Green checkmarkY
Sompo Re Green checkmarkY
Swiss Re Green checkmarkY
Swiss Re Corporate Solutions Green checkmarkY Green checkmarkY
Tokyo Marine Green checkmarkY Green checkmarkY
Travelers Green checkmarkY
Tryg Trade Green checkmarkY Green checkmarkY
Zurich Insurance Group Green checkmarkY Green checkmarkY

References

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  1. ^ "International Credit Insurance & Surety Association | UIA Yearbook Profile | Union of International Associations". uia.org. Retrieved 2024-10-21.
  2. ^ Gianturco, Delio E. (2001-06-30). Export Credit Agencies: The Unsung Giants of International Trade and Finance. Bloomsbury Publishing USA. p. 51. ISBN 978-0-313-00069-0.
  3. ^ Jus, Miran (2013-02-26). Credit Insurance. Academic Press. p. 8. ISBN 978-0-12-411505-7.
  4. ^ "Reinsurers join credit association for first time. - Insurance Post". www.postonline.co.uk. 2000-09-01. Retrieved 2024-11-06.
  5. ^ "Industry Advisory Board Members | The ICC Digital Standards Initiative". icc-dsi. Retrieved 2024-11-06.
  6. ^ "International Credit Insurance & Surety Association | lobbyfacts". www.lobbyfacts.eu. Retrieved 2024-11-06.
  7. ^ Reporter, Staff (2023-11-20). "Global trade credit insurance market reaches $14b in 2022 – ICISA | Insurance Asia". insuranceasia.com. Retrieved 2024-10-23.
  8. ^ Blackmon, Pamela (2016-08-07). "OECD Export Credit Agencies: Supplementing Short-Term Export Credit Insurance during the 2008 Financial Crisis". The International Trade Journal. 30 (4): 295–318. doi:10.1080/08853908.2016.1199983. ISSN 0885-3908.
  9. ^ "Berne Union - ICISA joint industry survey 2017". www.berneunion.org. Retrieved 2024-11-06.
  10. ^ "BU-ICISA Regulatory Webinar". www.berneunion.org. Retrieved 2024-11-06.
  11. ^ Ezaru, Raluca. "The 2nd Edition of the Catalogue of Credit Insurance Terminology in German is available now". ICISA. Retrieved 2024-11-14.
  12. ^ "Trade Credit Insurance Demand on the Increase | BIIA.com | Business Information Industry Association". www.biia.com. Retrieved 2024-11-14.
  13. ^ "Trade credit insurance claims hit €3.2bn in 2023: ICISA". The Insurer. 2024-06-12. Retrieved 2024-11-14.