In 2025, global marine insurance premium revenue reached $42.6 billion, showing a 5.5% increase compared to the previous year. This statistic, published at the annual conference of the International Union of Marine Insurance (IUMI) on September 21, reflects growth in maritime transport markets due to increases in premiums for various products.
Composition of Marine Insurance Premium Revenue
Among global marine insurance premium revenue, cargo insurance accounts for 57%, hull insurance for 24.7%, marine energy insurance for 11.1%, and marine liability insurance for 7.3%. Frédéric Denefle, President of IUMI, noted the impacts of war risks and other geopolitical challenges on the insurance market.
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Geopolitical Challenges and Changing Trade Patterns
Denefle stated that insurers must prepare for changing trade patterns as shipping companies seek alternatives to conflict-affected areas. He also emphasized the need to understand new markets as a result of geopolitical developments.
Military conflicts have currently led oil tankers and other vessels to seek the safest routes in the waters of the Middle East and the Black Sea, resulting in increased energy costs and fuel demand.
Additionally, according to assessments by Platts, the war risk premium for crude oil loaded from Black Sea ports reached $2.9 per barrel on September 21, 2026, up from $0.9 at the end of 2025.
Despite the increasing geopolitical risks, Denefle emphasized that marine insurers continue to provide coverage in high-risk areas and are committed to facilitating global trade.
Overall, hull insurance revenue in 2025 reached $10.5 billion, reflecting a 9.4% increase. Furthermore, marine energy insurance remained nearly unchanged from the previous year at $4.82 billion.
These trends are expected to continue in the coming years, given concerns over energy security and geopolitical tensions.
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