In a land best known for the rising sun, it’s the curtain that now rises on this year’s annual IUMI conference. In the delightful harbour-side setting of the Grand Nikko Tokyo Hotel in the Daibo area of Japan’s capital city, more than 500 marine underwriters and colleagues are gathering for their annual jamboree. Chosen to coincide with the centenary of the General Insurance Association of Japan, this nation once again plays host to the most prestigious of marine insurance events.

History shows that Japan first began to sell cargo insurance in 1879 and most industry locals will say that marine insurance was the precursor to Japan’s now mature general insurance business. Looking through this week’s delegate list, the local industry is well represented with more than 70 underwriters and only surpassed by the London market which has sent over 100 attendees. All global marine underwriting markets are represented from Singapore to Slovenia and India to Israel – all-in-all a mix of 35 nations.

Although it’s Sunday, the hotel’s conference area is bustling with suited and booted men and women registering for the event and attending an array of committee meetings to kick off the week. All the technical committees are holding their pre-conference meetings today as is IUMI’s executive committee. These are prime opportunities to bring sector experts together from across the globe to continue IUMI’s work and to prepare for the imminent discussion and debate.

But it’s not all work, delegates will soon begin preparing for IUMI’s first set-piece, the opening reception. This year, held at Miraikan, Japan’s National Museum of Emerging Science and Innovation, the entire conference and those spouses lucky enough to have been invited by their partners, will gather for an evening of renewing friendships and making new acquaintances.

Conversations are likely to cover the continuing poor markets, ongoing threats from cyber, accumulations, ever larger vessels and other factors – all to be debated more formally in the coming days. And for many, the likelihood of seeing a North Korean missile flying overhead might also be an interesting topic!