Global marine insurance premiums rose by about 5.5% in 2025 compared to 2024, according to the latest, 2026, analysis from the International Union of Marine Insurance. Total global marine insurance premiums hit USD$42.6 billion, the IUMI reports.
Ocean hull insurance premiums rose by 9.4% to USD$10.5 billion, driven by global fleet growth, higher vessel values and war premiums, the IUMI said.
Marine cargo insurance premiums rose by about 6.9% year on year to stand at USD$24.2 billion, driven by seaborne trade, and by asset and commodity price movements.
IUMI’s Major Claims Database, which contains data from 2013 onwards, now records approximately 7,200 cargo claims observations with cumulative losses of USD 11.4 billion.
Commenting on this year’s report, IUMI Secretary General, Lars Lange said:
“The 2025 marine insurance market recorded modest growth in global premiums, although underlying conditions remained soft. Increased capacity, competitive pressures and currency movements, particularly the weakness of the US dollar, all influenced reported premium levels. On the claims side, the overall picture remained relatively stable with no single catastrophic loss significantly affecting any individual sector. However, attritional claims continued to accumulate putting pressure on profitability.
“Concerns that global tariffs would significantly constrain international trade proved less pronounced than anticipated while global GDP growth was stronger than expected. At the same time, the global race for AI began to influence marine trade with high-value semiconductors becoming an increasingly important component of international cargo movements. Asia continued to lead market growth with premium income rising steadily since 2016 and China remaining the region’s dominant market. European markets also expanded, although at a slower pace.
“Looking ahead, geopolitical tensions continued to shape the market into 2026. War cover became increasingly prominent while vessel availability, particularly for energy carriers, tightened as conflict in the Middle East intensified. Strong oil and gas demand continued to support activity while the impact of global tariffs remained less significant than initially feared.”
Download the full IUMI Stats Report 2026.
