The credit and political risk insurance (CPRI) market is in great health and client demand remains strong. In 2024, we saw a 19% increase in deals sent to market. That resulted in our brokers sending out over 15,000 communications to insurers requesting terms on deals.
Those communications were being sent to an expanding universe of insurers. By way of example, this year’s survey records the capabilities of 75 CPRI markets (up from 67 last year).
Speaking to this many insurers allowed us to tease out some interesting observations for this year’s survey:
Our findings from the 2025 CPRI market survey seem to indicate that insurers are seeing the benefit of focusing on genuine client needs as opposed to having large theoretical capabilities which are very rarely deployed.
The typical lines deployed in political risk insurance are still larger than those deployed in transactional trade credit.
The political risk maximum capacity was impacted by two large insurers reducing their maximum line sizes, but interestingly they both increased the typical lines that they write. If an insurer only ever put down stamps of $30 million or $50 million they don’t need a theoretical capability of $150 million.
In the same way on the contract frustration side of things, three markets reduced their maximum capacity, but they maintained that capacity at a significant level (at $50 million per deal for two markets and $30 million for the third).
In an increasingly crowded landscape, insurers need to be more competitive. However, it is hard to compete on all fronts such as talent, reinsurance and systems, so it would appear insurers are looking to compete where they can have the most impact.
We hope you enjoy reading this report and find its contents useful. If you would like to find out how you can take greater advantage of current market capacity, or require further detail on the insurer appetite and capabilities highlighted in this report, please contact us.
WTW hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, WTW offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).
| Title | File Type | File Size |
|---|---|---|
| Credit and Political Risk Insurance capacity survey and market update 2025 | 1.3 MB |
