The Lloyd’s List Podcast: Iumi conference round-up
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With the global marine market experiencing something of a turnaround this year, Lloyd’s List’s David Olser speaks to key players at this year’s Iumi conference
This year’s annual International Union of Marine Insurance (Iumi) marked something of a turnaround for the sector. Global marine premiums jumped 8.3% in the past year, with many lines of business moving into profit.
Hull and machinery insurance, which had been losing money in the aggregate for around 20 years, is now making money, while protection and indemnity clubs are publishing combined ratios of better than 100% for the first time since the late 2010s.
Meanwhile, the European market continues to hold its own, even as London continues to cede ground to Asian insurers, with more than half the global marine market’s premiums.
Lloyd’s List’s David Osler has been in Edinburgh talking to some of the main actors, including:
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Chair of Iumi’s hull committee and chief executive of American Club affiliate American Hellenic Hull Insurance Company: Ilias Tsakiris
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Chair of the International Group of P&I Clubs: Nick Shaw
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Iumi vice-chair of the facts and figures committee and analyst/actuary of the Nordic Association of Marine Insurers: Astrid Seltmann
