Sluggish economic growth prompts marine premiums to plummet
Wednesday, 09 21 2016, Category: Insurance and Reinsurance, Country: World
Global marine underwriting premiums for 2015 are down to $29.9 billion, a 10.5 percent reduction from the 2014 figure, according to IUMI’s annual statistical report.
Of this 2015 figure, 50.4 percent of the income had come from Europe, 27.1 percent from Asia Pacific, 9.8 percent from Latin America and 5.9 percent from North America.
With regard to business lines, 52.9 percent of the income had come from transport and cargo, 25 percent from global hull, 15 percent from offshore/energy and 7.1 percent from marine liability.
Source: Intelligent Insurer