Introduction
The Australian credit insurance market essentially owes its development to the establishment of Trade Indemnity Australia in 1963. This was a wholly-owned subsidiary of the London domiciled Trade Indemnity PLC that later became part of the Euler Group.
The Domestic Market
QBE Trade Indemnity continues to dominate the domestic marketplace following the acquisition in 1997 of the business of Trade Indemnity by QBE Insurance (Australia) Limited.
In the last ten years a number of players have entered the market including MGICA (supported by AMP), Royal and Sun Alliance, HIH, FAI (when bought by HIH),, Gerling , AIG, CGU and, most recently, Dexta, the underwriting agency for the French credit insurance group Coface (2000).
