Independent journal on economy and transport policy
14:36 GMT+1
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Last year the total of the prizes in the segment of the marine insurances is piled to 32,6 billion dollars (- 3.2%)
the decrease is attributable in great part to the strong dollar. The IUMI has evidenced the important impact that the great lefts with losses of cargo can have on the field
September 23, 2015
In the 2014 total of the prizes recorded from the market of the marine insurances it is piled to 32,6 billion dollars, with a decrease of the -3,2% regarding the year precedence. Marine Insurance (IUMI) in occasion of the conference has announced the International Union of anniversary of the association, to which the insurance companies are under responsibility that operate in the fields of the shipping and the transports, held in recent days to Berlin.
The IUMI has specified that the found decrease last year reflects also the impact of the conversion of local currencies in dollars. "The decrease of 2014 - it has specified the vice president of the Facts Committee & Figures of the association, Astrid Seltmann - is attributable in great part to the strong dollar, in particular relatively at the market cargo that generally is expressed in other currencies".
The association has specified that the total of the prizes of 2014 is subdivided between 51.9% recorded in the segment "transport/cargo", 23.2% in the global segment "hull", 18.2% in the offshore segment "/energy" and 6.6% in those "navy liability". Overhead to the list of the returns subdivided for geographic area is Europe with 52.6% continuation from Pacific Asia/(25.0%), Latin America (9.8%), North America (6.4%), Middle East (3.1%) and Africa (3.0%).
In the course of the conference president of the Committee Cargo of the IUMI, Nick Derrick, has stopped himself on the important impact that the great lefts with losses of cargo can have on the field of the marine insurances. Derrick has referred in particular to the recent incident in the port of Tianjin, where last month a series of explosions has devastated part of the harbour area, event that - it has emphasized - would have to serve as a "alarm bell". "The port of Tianjin - it has explained - has a surface of about 125 squared kilometers, but only a small part of the port is hit by the explosion. Although this we expect to record losses of cargo in order at least 1,5 billion dollars, with some relationships that assert that the final figure could go up to six billions of dollars. The insurers goods must understand that the loss in dollars could be pairs to that an earthquake or a tsunami would have happened if the entire port were hit, for example from a natural catastrophe as". "Besides the direct impact of the explosion of Tianjin - he has continued Derrick - us he seems to understand that also the goods to out of the zone of the explosion is contaminated by dangerous chemical substances. This will join to the final figure of the losses".
Derrick has found that the incident of Tianjin together to other important lefts happened in 2015, between which the silting up of the car carrier Höegh Osaka with consequent exposure for the loss of vehicles pairs to 35 million pounds, it must have an impact on the economic results of the field of the assurances of the goods is in the 2014 that in 2015.
With respect to the future perspectives of the entire field of the marine insurances, Patrizia Kern-Ferretti, president of the Committee Facts & Figures of the IUMI, have observed that, "looking ahead, the uncertainty seems to be the only constant. The economic resumption - it has explained - seems to support the increase of the prizes, but the markets more elevated increase are slowing down. Moreover the risks connected to a slow down are increased, with to the head that of China. Even if this has an impact on all the world-wide exchanges - it has evidenced Kern-Ferretti - are not clearly until that point reflects a structural change on the sources of the commercial exchanges. Meanwhile our field is recording a remarkable sequence of fusions and acquisitions that globalizzeranno the ability ulteriorly and will introduce specialized producing possibilities of diversification and more. Moreover - it has concluded - the fusions and acquisitions are making available on the market a greater number of talents and this, with the abundance of capitals, potentially has the effect to increase the number of the companies that supply insurance services and to maintain a pressure on the prices".
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