The International Credit Insurance & Surety Association (ICISA) is an international trade association for companies that provide private trade credit insurance, reinsurance and surety bonds. The organization has a coordinating role on the world market for private trade credit guarantees, a role that was critical in the post-war expansion of international trade. Its secretariat continues to publish reports and organize events that provide information and analysis about the state of the credit insurance industry and its role in the global economy.
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.
After World War II, international trade increased rapidly and trade finance became an important tool for export promotion. International coordination of the market for trade credit guarantees was a felt need.[3] ICIA fulfilled this role for private credit insurance providers and its membership increased steadily. In the 1950s, the association opened to companies providing surety bonds and changed its name to ICISA.[4] In 2000, it started to include companies providing reinsurance.[5]
Organization
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.[6][7]
Publications
The ICISA secretariat publishes books and reports that provide statistics and analysis of the credit insurance industry and its role in the global economy.[8][9] For some publications, ICISA collaborates with the Berne Union, a sister organization for Export Credit Agencies.[10][11]
ICISA (2007), Catalogue of Trade Credit Terminology
ICISA (2015), A Guide to Trade Credit Insurance. Anthem Press[12]
Membership
By 2024, the organization had 58 members.[13] In 2023, together they provided risk protection amounting to 16.3 billion euros.[14][15]
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