The International Union of Marine Insurance (IUMI) has presented its analysis of the latest marine insurance market trends during its annual conference which this year is being held online. Marine underwriting premiums for 2019 were estimated to be USD 28.7 billion which represents a 0.9% reduction from 2018.
The USD 28.7 billion global income was split between these geographic regions: Europe 46.3%, Asia/Pacific 31.8%, Latin America 10.3%, North America 5.3%, Other 6.3%.
2019 saw Europe’s global share reduce slightly from 46.4% (2018) to 46.3% and Asia’s share increase modestly from 30.7% (2018) to 31.8%.
For global marine premium by line of business, cargo continued to represent the largest share with Continue reading “Global marine insurance show modest recovery but uncertain future”
Five international freight transport and cargo handling organisations have published a 
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The Swedish Club in its monthly safety bulletin describes a case history about the cargo hold flooding which was attributed to a tank missing a gasket to the manhole. Also, the bilge sensor was broken and heavily corroded, although it had been inspected a couple of days previously and found at the time to be in good condition.