Maritime transport slowing down

French maritime transport market generated premiums of 1.5 billion USD in 2016. Paris market therefore gets 5% of the global volume of this class of business estimated at roughly 30 billion USD for the same year.

With 560 million USD in premiums, “ship hull” insurance has dwindled down by 11.5% in one year. “Marine cargo insurance” has exhibited a more moderate decline (-1.6%) at 940 million USD.

Taking the floor during the marine insurance event held on May 4 and 5 in Paris, the president of the marine and transport committee of the French federation of insurance companies (FFSA) justified this slowdown by the decline in ship orders and sluggish global trade triggered by the rise of protectionist policies.

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