The International Union of Marine Insurance (IUMI) reported that global marine insurance premiums climbed 5.5% to $42.6 billion in 2025, even as rising capacity, stiff competition, and a weaker US dollar constrained rate increases.
The annual Stats Report 2026 from IUMI indicated that premium increases in cargo and ocean hull insurance were responsible for the growth, while offshore energy insurance prices stayed mostly the same.
Marine cargo premiums increased 6.9% year on year to $24.2 billion, supported by seaborne trade and movements in asset and commodity prices. China recorded strong growth, driven by high-value exports, including artificial intelligence-related technology.
The cargo insurance market stayed weak even as loss ratios improved, with ongoing competition keeping premiums down. Ocean hull premiums jumped 9.4% to $10.5 billion, a rise fueled by a growing global fleet, higher vessel values, and increased war-related premiums.
According to IUMI Secretary General Lars Lange, marine insurance figures showed modest growth in 2025, but currency fluctuations and competition influenced the final numbers. Claims conditions stayed relatively steady, with no single catastrophic loss having a major impact on any specific marine insurance sector.
Global tariffs had a less harsh effect on international trade than was predicted, and the world’s economic expansion was stronger than anticipated. Asia continued to dominate the marine insurance market, with premium income consistently increasing since 2016 and China staying the biggest market in the region.
Lars Lange noted that they observed modest growth in marine insurance premiums. It was also reported that currency movements and competition had an effect on the figures. The International Union of Marine Insurance stated that the claims conditions were relatively stable.
The International Union of Marine Insurance provided this information in its annual Stats Report 2026.
China remains the region’s largest market, driven by high-value exports.
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