2020 State of the Industry Report

Despite the huge disruption, uncertainty and heightened risk environment inflicted by the COVID-19 pandemic, the export credit insurance industry fared relatively well in 2020 and overall new business increased despite a sharp contraction in economic activity, while defaults and claims have so far remained manageable.

However, there are still indications that a substantial share of COVID-19 related claims may not yet have emerged. The degree to which these will appear later depends in part on how the phase out of special measures of government support is handled, as well as the actions and risk appetite of creditors, and general economic conditions.