The IUMI 2023 Asia Forum was held from 8 to 10 May in Dubai, a first for the Middle East. The Emirates Insurance Association hosted this special event which brought together members of the marine insurance associations from countries across the Middle East and Asia, and many international delegates. 

On the first day, a joint session on “Marine Insurance Markets in the Middle East” provided insight into marine activities, particularly the rapid increase in import and export volumes for the region. The region is a significant hub for the marine premium business, and according to GIG Gulf, the Middle East represents 3.2% of the global marine insurance premium, providing enormous potential for marine insurance, specifically in cargo and logistics.

Dave Matcham, Chief Executive, International Underwriting Association, provided insight into the world fleet and the shipping market, and Sean Dalton, Executive Vice President and Head of Marine Underwriting, North America, Head of Global Marine Facultative at Munich Re US, reviewed the impact of inflation in marine insurance markets. 

Delegates also shared their perceptions on various emerging trends and issues, such as the impact of the climate crisis on marine energy consumption, how global geopolitical events have been affecting marine insurance and the nature of the risk cycle. 

This first IUMI event in the Middle East took place in the most memorable setting in the stunning city of Dubai. Thank you to the extraordinary Organising Committee, which was led by Fareed Lutfi, Secretary General of the EIA, who made this conference possible.