IUMI Stats – Global marine insurance market, 2023

The authors present the IUMI Stats Report for 2023, indicating positive growth in the global marine insurance market after a period of negative returns. Despite challenges such as rising asset prices, fluctuating oil prices, and changing trade routes due to events like the war in Ukraine, marine insurers have shown improvement through skilled underwriting and changes in frame conditions. The report provides data on the marine insurance market in the context of world economic performance and the shipping industry, offering commentary and opinion based on collected data. IUMI, representing 43 national and regional marine market insurance associations, compiles and analyzes data submitted by national associations and other data providers. Special thanks are given to the Nordic Association of Marine Insurers for compiling global marine insurance data annually and providing up-to-date hull trend analyses. The report acknowledges the support of member associations and data providers in contributing valuable information on trends impacting the marine industry.