Marine insurance premiums reached $42.6bn in 2025

Global marine insurance premiums reached $42.6bn in 2025, up 5.5% on 2024, but the weakness of the US dollar masked any underlying market development while increased capacity and competition continued to drive soft market conditions, according to 2026 Stats Report released by IUMI -International Union of Marine Insurance.

“Changes in marine insurance premium income are generally driven by factors such as global trade volumes and commodity prices for cargo, vessel values for hull and oil prices and activity levels in the offshore energy sector,” IUMI stressed in its latest report.

The report shows that marine cargo premiums reached $24.2bn, up 6.9% year-on-year, supported by seaborne trade and asset and commodity price movements. Chinese premiums continued to grow strongly, driven by high-value exports including AI-related technology. Despite improving loss ratios, the market remained soft.

Ocean hull premiums increased by 9.4% to $10.5bn, encouraged by global fleet growth, higher vessel values and war premiums. IUMI reported that fleet growth continued to outpace premium growth indicating continued competitive pressure although loss ratios appear to have normalised.

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