According to figures published by the International Union of Marine Insurance (IUMI), the marine insurance recorded a total amount of 34.2 billion USD of premiums in 2013, a decrease of 1.7% compared to collected premiums in 2012.
Europe, Asia-Pacific region and Latin America account for nearly 90% of these premiums withe respectively 52.6%, 25.5% and 10.1% of market shares.
Premiums recorded by cargo market amount to 18.2 billion USD in 2013, 43.8% of them coming from Europe. The Asia-Pacific region comes in second position with 29.2% of premiums.
Hull market totalized 8.52 billion USD of prermiums in 2013. The branch records an 18th successive decline with a decrease of 0.8% in 2013.
Note that in terms of country-performance, China is on top of the cargo premiums ranking (with 9.3% of market shares) and 2nd for hull premiums (with 10.4% market shares).