IUMI’s 2019 statistical report – IUMI Stats – has been published and can be downloaded HERE.  This is the second in a series of annual reports launched by IUMI last year. Its aim is to present a range of statistical data to help define the maritime sector and, more particularly, the marine insurance market.

Highlights from this year’s analysis includes:

• A modest single percentage point rise in global marine premiums across all sectors.
• Continuing uncertainty in national policies, geopolitical tensions, commodity prices and other factors is making the future prospects of the marine insurance market hard to predict.
• The return of major losses and the increasing accumulation of risk, both onboard ships and ashore, is impacting various lines of business.
• A steadying of the oil price is encouraging offshore reactivation but this is bringing its own challenges.
• Fires onboard containerships is a growing concern for hull and cargo underwriters.
• In general, the marine insurance markets appear to have bottomed-out, with many markets reporting changing underwriting conditions but the prospect of any real market improvement to 2019 results remains uncertain.

 

The full report is available to download from IUMI’s website.