19th September 2018
On Tuesday 18 September – Sean Dalton, the International Union of Marine Insurance (IUMI) Cargo Committee Chair reported that the marine cargo market remained the largest commercial marine line of business in terms of premium income. IUMI’s 2017 statistics showed global cargo premiums amounting to US$16.1 billion. Globally, the cargo line has been unprofitable for several years with rising loss ratios and expense ratios and this is of great concern to underwriters.
18th September 2018
Although global premiums for the offshore energy insurance sector dipped by 5% in 2017, signs of recovery are on the horizon. Speaking at this year’s International Union of Marine Insurance (IUMI) conference in Cape Town today, IUMI’s Offshore Energy Committee Chairman, James McDonald, explained: