Global healthcare creditor insurance market is anticipated to grow at a CAGR of 6.0% during the forecast period (2024-2031). Pivotal factors such as cohesive government policies, escalating complexity and volume of financial transactions within the healthcare sector, among others are driving the healthcare creditor insurance market. As healthcare expenses surge globally, individuals frequently resort to loans or credit arrangements to address medical costs not fully covered by insurance. Healthcare creditor insurance offers safeguarding to healthcare providers or financial institutions in instances where patients fail to settle debts due to prolonged illness, disability, or demise. Given the increasing demand for healthcare services and the uptick in chronic illnesses, the necessity for healthcare creditor insurance is projected to surge, thereby fueling market growth.
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In November 2023, Zurich Insurance Group announced a strategic partnership with Kotak Mahindra Bank Limited, aiming to secure a majority stake of 51.0% in Kotak Mahindra General Insurance Company Limited for a total of $488.0 million. This collaboration reflects Zurich's strategic initiative to expand its presence in the insurance sector and further strengthen its position in the Indian market. By acquiring a significant ownership in Kotak Mahindra General Insurance Company Limited, Zurich aims to leverage synergies and capitalize on growth opportunities within the insurance industry.
In January 2023, Coface completed the acquisition of Rel8ed, a move intended to enhance its trade credit insurance offerings by leveraging Rel8ed's advanced analytical capabilities and robust business information resources. This strategic acquisition underscores Coface's commitment to bolstering its capabilities in providing risk management solutions to businesses across various industries. By integrating Rel8ed's analytical expertise and business insights into its operations, Coface aims to enhance its ability to assess and manage credit risk effectively, thereby delivering greater value to its clients and stakeholders.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Age Group
o By Distribution Channel
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Coface, Zurich Insurance Co. Ltd., Chubb, and QBE Insurance Group Ltd., among others.
Key questions addressed by the report.
Global Healthcare Creditor Insurance Market Report Segment
By Age Group
By Distribution Channel
Global Healthcare Creditor Insurance Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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