International Union of Marine Insurance (IUMI)

Today we mark #WorldMaritimeDay! Our ocean is facing growing challenges: From plastic pollution and rising temperatures to acidification and overfishing. These threats are caused by us humans, which means we also hold the power to change course. Hear from International Maritime Organization Secretary-General Arsenio Dominguez in his special World Maritime Day message under this year’s theme: “Our Ocean, Our Obligation, Our Opportunity”: https://lnkd.in/gUggxpyx

On Tuesday, IUMI’s Secretary General Lars Lange and Chief Analyst Veith Huesmann had the pleasure of welcoming a delegation from the Insurance Institute of Gauteng (IIG), South Africa, to the IUMI head office. Veith and Lars provided an overview of IUMI as an organization and shared insights to the current drivers of the marine insurance industry. The 16 visitors engaged in a lively discussion about the African insurance market and how IIG is strengthening its global connections. Many thanks to Wilmine Prinsloo and Monique Kleinschmidt for facilitating this event. Next stop for the group is the Oktoberfest in Munich – and we are already looking forward to hearing the best stories when they next visit Hamburg!

Our first Masterclass Hull Insurance is coming up in London and few seats are still available! The course is intended for senior maritime professionals who wish to deepen their knowledge of H&M insurance. The programme is structured around three core pillars: Technical, underwriting and claims. Throughout the course, our participants will discuss underwriting tools and market trends, and they will explore various strategic considerations during an interactive case study. Find out more and join us from October 28-31: https://lnkd.in/dtJv2Hdh Once you have completed the programme, we look forward to reuniting with our Masterclass alumni at the IUMI annual conference, just as we did recently in Singapore!

With increasing complexities in maritime trade, marine insurers must navigate a wide landscape of claims related to cargo, hull, pollution, personal injury, war, international regulations and contractual liabilities. Charterers are at the centre of the shipping operation and face significant exposure from multiple directions. Therefore, loss prevention in charterers’ liability is not only about minimizing claims – it is about understanding where risks originate from and taking proactive steps to mitigate them. In our next webinar, Danielle Hofmans, Manager Claims at Charterama b.v. will discuss key risk factors in charterers’ liability, highlighting the common pitfalls in charterparties, the risks associated with different cargo types, the impact of poor vessel vetting and the evolving challenges of sanctions compliance and environmental regulations. The discussion with our participants will be hosted by Lucien Lesuis, Managing Director and Co-Founder of Charterama. Join us on September 24 and sign up here: https://lnkd.in/dQdGwQjs

This week's IUMI conference was dominated by discussions about geopolitical and trade tensions, and how these impact the shipping industry and marine insurers. News channel CNA spoke with IUMI Secretary General Lars Lange about the implications for shipping lanes from the Red Sea to the Black Sea: https://lnkd.in/dea-T22C

So, this was #IUMI2025! Five days packed with discussions in our Technical Committees; workshops shedding light on key issues, trends and developments; and of course the presentation of the global marine insurance report. On top, our members, IPPs, affiliates and expert speakers made the most of the networking and mingling opportunities in the vibrant city of Singapore. Heartfelt thanks to our wonderful hosts from the GIA Singapore who turned this conference in memorable event! Thank you also to all our Committee Chairs and members who put on such an outstanding conference programme. We would further like to sincerely thank our sponsors from 38 companies and organisations. Without your support, #IUMI2025 would not have been possible. And of course a big thank you to our delegates from around the world who travelled to Singapore from near and far to make this an extra-special IUMI conference! The baton has now been passed on to our hosts of #IUMI2026. Looking forward to reconnecting in Rotterdam next September: https://iumi2026.com/

Our final day in Singapore - take a look at some of the highlights

Stable today, uncertain tomorrow: IUMI’s outlook on the cargo insurance market At our annual conference in Singapore, Cargo Committee Chair, Mike Brews reported that global marine cargo premiums hit USD 22.64B in 2024, up 1.6% year-on-year. Loss ratios have improved, claims remain manageable, and no major catastrophic losses were reported this year — signalling stability. But the horizon isn’t entirely clear. Tariffs, shifting trade flows, and geopolitical tensions could reshape cargo values, risk accumulations, and global supply chains. The industry will need to adapt to new routes, markets and risk profiles as the cargo landscape evolves. Read more here: https://lnkd.in/eFaCTiQ7 

Loss prevention has never been more relevant Speaking at the IUMI Annual Conference in Singapore, Pascal DUBOIS highlighted the growing importance of loss prevention in maritime amid: Climate change Geopolitical volatility Technological transformation Investment challenges From vessel re-routing and drone surveys to IoT tracking and blockchain, practical solutions are reshaping the industry. “Embedding loss prevention into daily operations is essential for de-risking, investment, and transformation,” Dubois said. Read more here: https://lnkd.in/ekMDmrJk

Mixed Outlook for Offshore Energy Insurance At our annual conference in Singapore, Melanie Raven, Chair of the Offshore Energy committee explained that the offshore energy market was at a crossroads: Premiums dropped 7.9% in 2024 to USD 4.34B, driven by lower oil prices, competitive pressures and rising market capacity. Profitability was under pressure: high attritional losses (~USD 2B) persist despite fewer catastrophic events. But there were opportunities ahead including accelerating offshore wind projects in Asia and the growing role of gas as a transitional energy source. “With attritional losses already high, we must remain mindful of our exposure should a significant event occur.” Said Mel. Read what else she had to say: https://lnkd.in/e_7rBkAb