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The International Union of Marine Insurance (IUMI) held its annual conference from 7 to 10 September 2025 in Singapore.
During the event, the IUMI unveiled key figures for the global marine insurance market for 2024.
Premium volume in the marine insurance sector reached 39.92 billion USD, up 1.5% compared to 2023.
Marine insurance: breakdown of premiums by region
| Region | Market share 2024 |
|---|---|
| Europe | 46.96% |
| Asia Pacific | 29.79% |
| Latin America | 10.19% |
| North America | 7.75% |
| Middle East | 3.53% |
| Africa | 1.38% |
| Other regions | 0.4% |
| Total | 100% |
Marine insurance: breakdown of premiums by type of coverage
| Coverage | Market share 2024 |
|---|---|
| Marine cargo | 57.23% |
| Marine hull | 23.51% |
| Energy/offshore | 11.71% |
| Marine liability * | 7.55% |
| Total | 100% |
* Excluding P&I
