On the occasion of today's conference of the International Union of Marine Insurance (IUMI), taking place in Edinburgh, Scotland, The Chair of the IUMI Cargo Committee, Isabelle Therrien, announced that in 2022 the Goods premiums reached a value Total of 20,5 billion dollars, with an increment of +8.3% on the previous year which - it has highlighted - shows a development positive market in place consecutively for several years. Therrien specified that all regions recorded a growth with the exception of Asia, probably due to economic conditions of some countries in that region beyond the weakening of some Asian currencies against the dollar American.

Therrien pointed out that, despite this positive development, «in 2022 the Cargo insurance market has found at the intersection of economic, geopolitical and sector-specific. There are - he explained - a series of important developments that last year revealed their presence and will continue to exert influence in 2023, and hereinafter. Overall, the insurance market of goods follows the fate of global trade, albeit with delay. Covid has slowed down exchanges, but this is what A sharp rebound followed. However, there is a lot of uncertainty about future economic growth and this will have an impact on the performance of our sector."

The Chair of the IUMI Cargo Committee noted that, in Macroeconomic level, the future of freight insurance will be affected by a general deceleration in growth global economic and central bank activity aggressively fight inflation, and this is probably heralds a reduction in trading volumes at worldwide. In addition to this - he added - an increasingly Deep geopolitical fragmentation is further complicating the World trade dynamics that will inevitably present New challenges for subscribers. After Covid - he observed Therrien again - supply chains seem to have Filming and transportation costs have decreased, but some routes commercial are starting to evolve and take shape different after Covid.

"Although there are clear signs recovery and resilience in the goods insurance sector - concluded Isabell Therrien - insurers must be aware of and addressing a number of global and specific challenges of the sector. As we go along, we are likely to see a certain tension between the maintenance of the discipline of underwriting and pursuit of growth, reflecting the balancing act that cargo underwriters must perform'.