Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Marine insurers see mixed blessings from downturn

9 April 2010

The world trade and shipping slump brought marine insurers mixed blessings in 2009, with insurable total losses at a record low while premium income also plunged.

The International Union of Marine Insurance (IUMI) has reported initial figures for 2009, which indicate that total losses fell by 10 percent over the year with just 67 ships lost at sea.

While marine underwriters have enjoyed reduced claims from the historic low for total losses, IUMI reported after a meeting in Hong Kong...

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