According to IUMI’s statistics published in September 2024, China is by market premium income the largest cargo insurance market in the world and the second largest hull insurance market. Accordingly, IUMI has a clear focus on Chinese developments in trade and maritime and particularly in marine insurance. Our cooperation with IUMI’s local member association - Shanghai Institute of Marine Insurance (SIMI) - is of great help in understanding these markets and building networks.

In late October 2024, IUMI Secretary General, Lars Lange visited Shanghai for the 2024 North Bund Forum. This event was co-hosted by the Ministry of Transport of China and the Shanghai Government. Its over-arching theme was "Digital, Smart and Green: Co-creating a New Ecosystem of Global Shipping and Aviation". More than 150 speakers from across the globe contributed perspectives on pressing topics and emerging trends, and around 30 projects were unveiled. The Forum is striving to become an international professional platform for the exchange of ideas, policy release and rule-making in the global shipping and aviation arena. Lars Lange had the opportunity to address the audience on two occasions: on day one he spoke on recent IUMI developments including the 150th anniversary, IUMI statistics, safety in shipping, decarbonization, war and crisis, and supply chain challenges. On day two he joined a panel discussion on “challenges and responses of insurance and maritime law in the new ecology of green shipping”.

Lars was also able to meet senior representatives of IUMI’s Chinese member association - Shanghai Institute for Marine Insurance (SIMI) - in their offices for a fruitful exchange on developments in China and matters of common interest.