Last year, the collection of awards from the marine insurance companies was equal to 38.9 billion, with a growth of +5.9% over 2022 to which they all insurance companies, with the Offshore insurance sector contributing Energy which recorded an increase of +4.6% with premiums of 4.6 billion, to the Freight business, which marked +6.2% with premiums for a total of 22.1 billion and the Corps which totalled a increase of +7.6% with premiums of 9.2 billion. This was announced today the International Union of Marine Insurance (IUMI) presenting An analysis of marine insurance market trends at its 150th annual conference held in Berlin.

The association specified that in 2023 the distribution of premiums has not changed significantly compared to the previous year with the Freight segment accounting for the largest share of the market with 56.9%, followed by Ocean Hull (23.6%), Offshore Energy (11.9%) and Marine Liability (7.7%). As for the subdivision regional awards, Europe continued to dominate the market with a share of 48.5%, followed by Asia/Pacific (28.1%), America Latin (10.9%), North America (7.0%) and the rest of the world (5.5%). The IUMI highlighted that, after a period of decline, since 2019 the premiums have recorded a growth trend and the European market has also Asian has continued its recovery since the negative trend for the region it ended in 2016. Last year also Latin America and North America showed a slight recovery.

Commenting on the evolution of the insurance market maritime elections during 2023, Astrid Seltmann, vice president of the Facts & Figures Committee of the IUMI, explained that "the Global premiums reflect a combination of insurable volumes and prices per unit. The drivers of the increase in premiums - he specified - are generally a continuous increase in volumes and global trade values (Goods), combined with increases in of ships (Corps) or the increase in the price of oil that induces increased activity in the offshore energy segment. More In general, geopolitical conditions will have had an impact on the Prizes in different regions, as well as the general conditions of the market, in particular capacity. Overall - he Seltmann highlighted - 2023 seems to have been a positive year for marine insurers. The other part of the equation is the impact of claims that in recent years has been relatively mild, despite the fact that individual serious accidents have caused concern, such as fires, and a visible impact inflation on the average cost of claims due to attrition or Decay. However, larger and larger ships accumulations of value, changes in technology and fuels, as well as changes in trade routes, all mean a change in risk that needs to be monitored in the future, and taken into consideration".