IUMI Stats report 2019 - Analysis of the global marine insurance market

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(www.MaritimeCyprus.com) The International Union of Marine Insurance (IUMI) operates at the forefront of marine risk, it gives a unified voice to the global marine insurance market through effective representation and lobbying activities. As a forum for the exchange of ideas and best practice, IUMI works to raise standards across the industry and provides opportunities for education and the collection and publication of industry statistics.

In this document we present data on the global marine insurance market set in the context of world economic performance, trade and the shipping industry. We also offer commentary and opinion based on the data we have collected.

The International Union of Marine Insurance (IUMI) represents 43 national and marine market insurance and reinsurance associations. Its Fact & Figures Committee compiles and analyses data submitted by national insurance associations and cooperates with other data providers. IUMI thanks go to member associations for their continued support, and to the other data providers, in particular Clarksons Research, IHS Markit, Lloyd’s List Intelligence and Swiss Re Economic Research for supporting IUMI with extensive and up to date information on the relevant trends that impact the marine industry.

Special thanks are offered to the Nordic Association of Marine Insurers (Cefor) for annually compiling global marine insurance data on behalf of IUMI and supporting IUMI with up-to-date hull trend analyses from
the Nordic Marine Insurance Statistics database.

The majority of the graphs in this report originate from the presentations given at the IUMI conference 2019 by Facts & Figures Committee Chair Philip Graham (“Chairman’s Report & Report on World Merchant Fleet and World Trade”) and Vice Chair Astrid Seltmann (“Global Marine Insurance Report”). These contain further graphs and market trends for reference.

There were nine major cargo vessel fires in 2019 which resulted in loss of life, injury and environmental damage. These fires had a strong economic impact, causing high costs to both the hull and cargo sectors. Recent statistics from the Nordic Association of Marine Insurers (Cefor) show that the larger vessels are most affected

To view the IUMI report go to the bottom of this article.

Click below image to download the IUMI Stats Report 2019:

 

Source: IUMI

 

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