{
  "id": 9200995,
  "title": "Marine cargo insurance market continues to soften, reports IUMI",
  "url": "https://urgent.news/2026/09/22/marine-cargo-insurance-market-continues-to-soften-reports-iumi",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T21:00:53.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/marine-cargo-insurance-market-continues-to-soften-reports-iumi/"
  },
  "original_language": "en",
  "account": "The global marine cargo insurance market showed signs of softness in 2025, according to the International Union of Marine Insurance (IUMI). Despite a 6.9% increase in global premiums to USD 24.2 billion, the market did not rebound as strongly as overall premium growth, which is attributed to currency fluctuations. Mike Brews, Chair of the IUMI Cargo Committee, emphasized that much of the premium growth was due to the US dollar's depreciation against European currencies, rather than genuine market development. Asia, particularly China, continued to drive growth, fueled by new products related to domestic e-commerce and high-value exports like electric vehicles and photovoltaic products. Europe, however, saw a narrowing of the premium share gap with Asia, from 7.8% in 2024 to just 3.3% in 2025. Loss ratios in Europe decreased to around 40% in 2025, while Asia's ratio remained high at slightly below 70%. The US experienced a significant drop in loss ratios to approximately 40%, though this may be influenced by potential under-reporting. Despite the softened market, no major losses occurred in 2025 that could significantly impact the broader market. The cargo sector's overall health remains cautious, with over-capacity and competitive pressures posing challenges.",
  "summary": "2025 global marine cargo insurance premium indicates that the cargo market softened in that year despite continued growth in the overall premium base, according to the International Union of Marine Insurance (IUMI). According to IUMI’s latest research, global cargo premiums reached USD 24.2 billion in 2025, representing a 6.9% increase on the previous year and ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}