Global premiums up 6.1 per cent

The International Union of Marine Insurance (IUMI) has released its 2021 analysis of the global marine insurance market – known as IUMI Stats Report – showing that global marine insurance premiums for 2020 increased by 6.1 per cent from 2019 to reach US$30 billion. This demonstrated real market development in all marine insurance lines (except P&I) for 2020; however early indications in 2021 are showing that continued development is uncertain.