Sept 22 – Marine cargo insurance premiums are on a falling trend, though 2025 premiums rose 6.9% last year to $24.2 billion largely due to the depreciation of the US dollar against European currencies. ”Overall the cargo market softened in 2025 rather than correcting, and that pattern has continued into 2026,” Mike Brews, chair of the Union of Marine Insurance’s (IUMI) cargo committee said in Rotterdam today.
Shippers have to deal with additional capacity and increased competition, which has softened the market somewhat. “More positively, the claims environment has remained favourable and this is reflected in the loss ratios,” Brews pointed out.
