Credit limits

Closure of the state support schemes

  • Global approval rates remain below pre-pandemic levels. As lockdown measures ease, pent up demand and growth continue to be held back by supply constraints and high energy prices.
  • Approval rates across certain sectors are however now emerging stronger than pre-pandemic.
  • Our experienced teams are available to assist you along the way by identifying and managing uninsured exposures, closing the gap between insured risk and uninsured risk for more comprehensive coverage.

Geographic trends

  • Latam recovering from a lower approval rate, driven by a delay in vaccinations and prolonged periods of lockdown.
  • Sanitary crisis severely impacted the US in Q2 2020. By September 21, approval rates are 8% higher than pre-pandemic levels, largely driven by infrastructure investment and acceleration in vaccine programmes.
  • Protracted recovery of approval rates in APAC as supply constraints linger and demand hardens in leading economies.
  • Lifting of lockdown measures boosts recovery in EMEA. However, approval rates remain 10% below December 2019 levels. Supply constraints holding back recovery.

Industry trends

  • Retail and wholesale approval rates driven by pent up demand and cash availability.
  • A dip in the recovery of automotive and technology sectors highlighted by microchip shortages.
  • Food/drink & agribusiness recover strongly as approval rates for both increase by 9% & 13% respectively.
  • Supply constraints and high energy prices impact manufacturing recovery in H1 21.
  • Steel & metals experience steady recovery as growth and demand catch up. This is forecast to level off as energy prices begin to impact production.

Regional acceptance rates

Source: Aon TradingDesk Insights

Sector acceptance rates

Source: Aon TradingDesk Insights