Global marine insurance premiums rise but underlying market remains soft, says IUMI

Global marine insurance premium income rose 5.5% in 2025 to USD 42.6 billion, according to the International Union of Marine Insurance (IUMI) in its annual market analysis presented in Rotterdam. But IUMI said the headline increase masks a market that remains soft across most lines due to currency shifts, increased capacity and persistent competitive pressure. Premiums were concentrated in Europe (46.5%) and Asia/Pacific (30.8%), with transport/cargo the largest business line at 57% of global premiums, followed by ocean hull at 24.7%, offshore energy at 11.1% and marine liability (excluding P&I) at 7.3%. IUMI noted that weak US dollar effects boosted reported figures; adjusting for exchange rates, softness persists. Claims were relatively stable, though attritional losses are eroding profitability, especially in ocean hull.