Trade Credit Insurance Carriers Compared
By Ed Yauch, Senior Market Leader, Impello Global · Last reviewed July 2026
The trade credit insurance market is led by a handful of specialist carriers, each with different appetites, coverage styles, and service models. The right one for your business depends on your industry, your buyers, and where you sell — not on which name is biggest. This is an independent comparison from a broker owned by none of them.
Choosing a trade credit insurer is not like choosing a commodity. Two carriers can quote the same risk very differently, cover different buyers, and behave very differently at claim time. Here is how the major markets compare, and how to think about which fits your book.
The major carriers
- Allianz Trade (formerly Euler Hermes) — the largest global trade credit insurer, with the broadest buyer database and wide geographic reach.
- Coface — a major global insurer with deep country-risk expertise and strong presence across Europe and emerging markets.
- Atradius — one of the "big three," known for strong underwriting and international coverage.
- AIG — a large multiline insurer with flexible, often more bespoke trade credit structures, strong on larger and excess-of-loss programs.
- Chubb and other specialist markets — competitive on select risks and structures, useful for tailoring and capacity.
How they differ
- Appetite. Each carrier is more or less willing to cover particular industries, buyer sizes, and countries. A buyer one carrier declines, another may approve — a core reason to shop the market.
- Coverage style. Whole-turnover vs. key-account vs. excess-of-loss structures are handled differently across carriers; some are stronger on small-business whole-turnover, others on large or structured programs.
- Service and claims. Underwriting responsiveness, buyer-limit turnaround, and claims handling vary meaningfully and matter as much as price.
- Geography. Reach and country-risk depth differ, which matters most for exporters.
Comparison at a glance
| Carrier | Strength | Typically best for |
|---|---|---|
| Allianz Trade | Largest database, global reach | Broad whole-turnover, exporters |
| Coface | Country-risk depth | Emerging-market exposure |
| Atradius | Underwriting strength | International whole-turnover |
| AIG | Flexible, bespoke structures | Larger / excess-of-loss programs |
| Chubb & specialists | Tailoring, capacity | Select or structured risks |
(Directional guidance — appetites shift constantly, which is exactly why live market knowledge matters.)
Why an independent broker gets better terms
Because Impello isn't owned by any carrier, we take your risk to the whole market and let the carriers compete for it. That independence produces better pricing, better limits on the buyers you actually need covered, and a program built around your business rather than any one insurer's preferences. A carrier-owned or single-market broker can't credibly do that.
How Impello places your risk
We profile your receivables and buyers, identify which carriers have appetite for your specific book and markets, run a competitive process, and structure the winning program — then manage limits and claims through the life of the policy. See how trade credit insurance is actually bought.
Related coverage: Trade credit insurance: complete guide · What it costs · Accounts receivable insurance
Frequently asked questions
Who are the largest trade credit insurance carriers? Allianz Trade (formerly Euler Hermes), Coface, and Atradius are the "big three" globally, with AIG, Chubb, and other specialist markets also active.
Which trade credit insurer is best? There is no single best — it depends on your industry, buyers, geography, and program structure. The right carrier is the one with appetite for your specific book at competitive terms, which is why comparing the market matters.
How do carriers differ? Mainly in appetite (which industries, buyers, and countries they'll cover), coverage structure, service and claims handling, and geographic reach.
Why use an independent broker to compare carriers? An independent broker isn't tied to any one insurer, so it can take your risk to all of them and negotiate the best terms — something a carrier-owned or single-market broker cannot.
Talk to Impello
The best way to compare carriers is to let them compete for your risk. Impello runs that process across the whole market on your behalf. Get started.