Global Marine Cargo Premiums Rose to $24.2 Billion in 2025
Higher trade volumes and currency shifts drove insurance premium growth for shippers across international markets.
Updated on Sept. 22, 2026 in Insurance
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Global marine cargo insurance premium income grew by 6.9 percent to reach $24.2 billion throughout 2025. This increase reflected changing trade volumes and currency fluctuations that impacted costs for shippers worldwide.
Why it matters
Rising premiums reflect the complex interaction between global trade activity and shifting currency values. These changes influenced the insurance market landscape, with loss ratios varying significantly across regional markets during the year.
Total global marine cargo premium income hit $24.2 billion in 2025, representing a 6.9 percent increase. Regional loss ratios varied significantly, reaching 40 percent in the U.S. and Europe, 45 percent in Latin America, and just under 70 percent in Asia.
The players
IUMI
An international organization representing marine insurers that tracks industry trends, loss ratios, and premium statistics.
The details
The increase in premium income was primarily driven by higher global trade volumes and the depreciation of the U.S. dollar against European currencies. Despite higher premiums, increased competition and overcapacity within the insurance market have led to a broader softening trend that persisted into 2026. For the U.S. specifically, the cargo market loss ratio improved significantly to 40 percent in 2025, down from 75 percent in 2024.
Timeline
2024: US cargo market loss ratio was approximately 75 percent.
2025: Marine cargo premium income rose to $24.2 billion.
2026: Cargo market softening pattern continues.
Money Landscape
The global marine insurance market continues to follow the pattern of softening observed by the IUMI as competition and overcapacity exert downward pressure on rates. This shift follows a period of high volatility, moving from the elevated 75 percent loss ratios seen in the U.S. during 2024.
Shippers and businesses involved in international trade should review their current insurance premiums to ensure they align with the softening market trends reported throughout 2026. Any specific changes to your business coverage costs should be discussed with a qualified insurance professional.
The takeaway
While global premium income rose, the overall trend of market softening suggests a shift in the competitive landscape for insurance providers. Keep track of regional loss ratio developments as these metrics can serve as early indicators for future fluctuations in insurance costs.
Further reading
For more information on how market trends impact coverage costs, visit Insurance.
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