FCIA

What FCIA does

FCIA (Foreign Credit Insurance Association) operates as a division of Great American Insurance Group, a subsidiary of the publicly traded American Financial Group (AFG), providing trade credit insurance and political risk insurance products to companies and financial institutions engaged in global trade. Founded in 1961, FCIA was a pioneer of export credit insurance in the United States and has delivered tailored coverage solutions for over six decades. The company's product portfolio centers on three core lines: Trade Credit Insurance (Multibuyer Policies, Single Buyer Policies, and Specialty Coverages), Political Risk Insurance (covering equity investments, shareholder loans, and mobile assets against named political perils such as confiscation, expropriation, and nationalization), and Financial Institution Products (including receivables purchase, trade payables financing, and letters of credit policies). Coverage terms span short-term (up to one year) to medium-term (up to seven years).

The technology infrastructure supporting FCIA's operations includes an Insured and Broker Portal enabling policyholders to access policy documents, view buyer limits, file claims, and submit online requests for limit changes. The company also publishes a monthly Major Country Risk Developments paper compiled by its International Economist, providing economic and political intelligence on trade-related developments and country risk assessments. Revenue is generated through insurance premiums charged to policyholders, with flexible structures including standard policies and Pay-As-You-Go policies where premium is paid based on actual monthly shipments in arrears.

FCIA distributes its products through a seasoned team of credit underwriters engaging directly with enterprise clients, an established insurance broker and agent network, and self-service digital channels for existing policyholders. The company serves four primary horizontal segments: manufacturers, distributors, traders, and financial institutions, with pain points addressed including non-payment risks, cash flow uncertainty, inability to secure financing without protected receivables, and exposure to political events in emerging markets. As an operating division rather than an independent entity, FCIA's financial results are not separately disclosed and are consolidated within Great American Insurance Group's reporting structure.

Name

FCIA

Legal name

FCIA Trade Credit Insurance & Political Risk Coverage

Website

https://fcia.com

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

1–10 employees

Short description

FCIA, a division of Great American Insurance Group, provides trade credit insurance and political risk insurance products to manufacturers, distributors, traders, and financial institutions engaged in global trade.

Ownership category

akta.pro rank

Product category

Trade Credit Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Structured Trade & Export Credit (ECA-backed, Structured Solutions) (FSABAHAJ)

Keywords

• Trade credit insurance
• Political risk insurance
• Export credit insurance
• Receivables protection
• Trade finance coverage

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Trade Credit Insurance Premiums: FCIA generates revenue through insurance premiums charged to policyholders for coverage against non-payment risks. Premium structures include standard policies and Pay-As-You-Go policies where premium is paid based on actual monthly shipments in arrears.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

FCIA underwrites and administers trade credit insurance and political risk insurance for U.S. exporters and global financial institutions. It issues Multibuyer Policies, Single Buyer Policies, Specialty Coverages, Political Risk Insurance Policies, and a Receivables Purchase Policy through the Great American Insurance Group and its insurance company subsidiaries. The unit also publishes the Major Country Risk Developments Report and operates an Insured and Broker Portal for policy servicing.

Product overview

FCIA (Foreign Credit Insurance Association) is a division of Great American Insurance Group offering a comprehensive suite of Trade Credit Insurance and Political Risk Insurance products since 1961. The product portfolio centers on three core offerings: Trade Credit Insurance Products (including Multibuyer Policies, Single Buyer Policies, and Specialty Coverages for unique contracts), Political Risk Insurance Policies (covering equity investments, shareholder loans, and mobile assets), and Financial Institution Products (including Receivables Purchase, Trade Payables Financing, and Letters of Credit Policies). The Multibuyer Policies include sub-products such as Pay-As-You-Go Policy and Non-Cancelable Limits Policy, while Specialty Coverages encompass Contract Frustration, Government Obligor, Private Obligor, On Demand Bonds, and Non-Delivery Coverage. Financial institution offerings provide supply chain financing protection through Import/Export Financing and Trade Payables Financing policies. The company also provides a monthly Major Country Risk Developments intelligence report and an Insured/Broker Portal for policy management. Coverage terms range from short-term (up to one year) to medium-term (up to seven years) for single buyer policies.

Differentiator

Problem solved

Functional benefit

Products and services

• Multibuyer Policies (Trade Credit Insurance) Trade credit insurance policy that insures an exporter's receivables from many foreign buyers under a single contract, available with optional product features such as Pay-As-You-Go, Non-Cancelable Limits, and Key Accounts coverage. Targeted at manufacturers, distributors, and traders selling on credit terms internationally.
• Single Buyer Policies (Trade Credit Insurance) Trade credit insurance policy providing coverage of a single foreign buyer's obligations, for exporters with concentrated exposure to one buyer or specific contract.
• Specialty Coverages - Contracts Contract-based trade credit insurance coverage tailored to specific transactions or project-type exposures that do not fit standard multibuyer or single buyer policy formats.
• Political Risk Insurance Policies Political risk insurance covering confiscation, currency inconvertibility/transfer restriction, political violence, government non-payment, and credit insurance coverages for cross-border investments and trade exposures.
• Receivables Purchase Policy (Financial Institutions as Insured) Insurance coverage for banks, factors, and other financial institutions that finance foreign receivables, protecting them against commercial and political nonpayment on those financed assets.
• Insured and Broker Portal Self-service online portal that lets insureds and brokers manage policies, submit documents, and report losses online with FCIA's underwriting and claims teams.
• Major Country Risk Developments Report Country-risk intelligence publication produced by FCIA's International Economist and underwriting team to keep policyholders and brokers informed of significant political and economic developments affecting their covered exposures.

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators2 records

Emerging players

• Credendo: European credit insurance and surety group offering trade credit and political risk products to mid-market exporters. Comparable in product focus but smaller in U.S. presence than FCIA.

Direct peers

• Coface: Global trade credit insurer providing single-buyer, multibuyer, and political risk products to exporters and financial institutions. Directly comparable to FCIA across product suite and customer segments, with similar broker-led distribution.
• Atradius: Major international trade credit insurer serving exporters, banks, and buyers with credit insurance and political risk products. Direct competitor to FCIA for both corporate and financial-institution accounts.
• Euler Hermes (Allianz Trade): World's largest trade credit insurer, offering multibuyer, single-buyer, and political risk coverage globally. Most directly comparable to FCIA in product mix and target customers; competes head-to-head on U.S. and international accounts.

Broad incumbents

• MIGA (Multilateral Investment Guarantee Agency): World Bank-affiliated political risk insurer offering coverage against expropriation, currency transfer, war, and breach of contract. Comparable political risk product to FCIA for cross-border investors, particularly in emerging markets.
• Zurich Insurance (Trade Credit): Global multi-line insurer with trade credit and political risk capabilities embedded within its specialty lines. Competes for large multinational accounts where buyers seek capacity from a top-tier global carrier.
• AIG (Trade Credit): Large global P&C insurer offering trade credit and political risk as part of its broader specialty insurance portfolio. Competes with FCIA for accounts seeking bundled coverage from a single large carrier.
• Liberty Mutual (Trade Credit): U.S. and international P&C insurer offering trade credit insurance as part of its global specialty division. Comparable to FCIA in targeting U.S. exporters and financial institutions.

Regional players

• Sinosure: Chinese state-owned export credit agency offering trade credit and political risk insurance tied to China-related trade flows. Adjacent comparator to FCIA given its dominant role in shaping global trade credit pricing for China exposure.

Others

• Willis Towers Watson (WTW) - Credit & Political Risk: Global insurance broker and advisory with a dedicated Credit & Political Risk practice that places business with carriers including FCIA, Euler Hermes, Coface, and others. Relevant as the channel through which FCIA distributes a meaningful portion of its book.

Market position

Strengths4 records

Weaknesses4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/fcia

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FCIA