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(Transportation-News.com, July 17, 2024 ) Maximize Market research, the Surety Market size was valued at USD 21251.17 Million. in 2023 and the Market is expected to grow by 5.06 % from 2024 to 2030, reaching nearly USD 30030.21 Million.
According to Maximize Market Research analysis, the Surety Market is the increasing adoption of 2,881 public-private partnerships (PPP) tasks globally between 1990 and 2020, with a complete funding of USD 1.68 Tn. Other surety companies are investing in digital platforms and tools to make it easier for customers to apply for and manage surety bonds. Increasing the use of technology offerings, is a significant opportunity for surety companies to improve efficiency, reduce costs, and enhance the customer experience to drive the Surety Market growth.
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North America dominated the Surety Market with 43% of the market share in 2023 and is expected to do the same during the forecast period for 2030. China is the largest market in the region, accounting for over 50% of all surety bonds issued.
January 4, 2023, Marsh McLennan Agency (MMA) announced the acquisition of HMS Insurance Associates
May 27, 2023, Talanx Group's Retail International division acquired Liberty Seguros' personal
May 29, 2024, TATA AIG General Insurance launched Surety Insurance Bonds
April 10, 2024, Bond-Pro announced a partnership with Surety2000 and Xenex Enterprises
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Surety Market Segmentation
by Bond Type
Contract Surety Bond
Commercial Surety Bond
Fidelity Surety Bond
Court Surety Bond
by End-User
Individuals
Enterprises
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Surety Maret Key Players:
Zurich Insurance Group
Liberty Mutual Insurance Group
Chubb Limited
The Travelers Companies, Inc.
CNA Financial Corporation
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