Slight increase in the golobal marine premiums
The global marine hull and cargo premiums reached 28.5 billion USD in 2017, that is an increase of 2% compared to 2016. The International Union of Marine Insurance (IUMI)'s report which revealed this figure underlined the continued imbalance between premiums and losses.
The increasing loss experience is mainly due to ageing of the fleets which lowers the vessels value and reduces, therefore, premiums. The rise in the frequency and intensity of natural catastrophe is also an aggravating factor.
The distribution of the turnover remains stable. Europe accounts for 49% of the global premiums, followed by the Asia-Pacific region with 29%, Latin America with 10%, North America with 6%, Middle East with 4% and Africa with 2%.
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