How healthy is the marine insurance market?
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Record premiums, softening rates and war risk dominated debate at IUMI 2026. Lloyd’s List’s marine insurance editor David Osler was there to find out whether there’s more to the eye-catching numbers being discussed
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MARINE insurance premiums reached a record $42.6bn in 2025, but leading underwriters gathering at this year’s International Union of Marine Insurance conference said the headline figure masks a more complicated picture.
While premium growth has been supported by trade growth and currency effects, competition is increasing across key classes and rates are softening in many areas.
So how healthy is the market really? Are customers still receiving good deals? And is war risk still the profit-turner it used to be?
Joining David on the podcast this week are:
Speakers
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Veith Huesmann, in-house statistician, IUMI
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Sean Dalton, head of marine North America, Munich
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Rachel Sabbarton, group head of marine and energy, Lancashire
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Deborah Shillabeer, class underwriter, Brit
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Emiel Paaij, head of marine Europe, Markel
