Press Resease

Marine Insurance Market - Global Industry Analysis

Marine Insurance Market by Type (Transport/Cargo, Hull, Offshore/Energy, and Marine Liability) and by Insurance (Loss/Damage, Fire/Explosion, Natural Calamity, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026

Published Date: 17-May-2019 Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-4129 Status : Published

Global marine insurance market expected to generate around USD 37,819 million by 2026, at a CAGR of 3.2% between 2019 and 2026. Marine insurance includes the damages or losses caused to terminals, ships, and transport or cargo that acquire, transfer, or hold goods between different points of source and final terminus.

Description

The report covers a forecast and an analysis of the marine insurance market on a global and regional level. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on revenue (USD Million). The study includes drivers and restraints of the marine insurance market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the marine insurance market on a global level.

In order to give the users of this report a comprehensive view of the marine insurance market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Global Marine Insurance Market

The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new service type launch, agreements, partnerships, collaborations & joint ventures, research & development, service type, and regional expansion of major participants involved in the market.

The study provides a decisive view of the marine insurance market by segmenting it based on type, insurance, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2026. The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Some key players operating in the global marine insurance market are Allianz, American International, Anderson Insurance Agency, Aries Marine Insurance Brokers, Ascot, Atrium, AXA, Beazley, Berkshire Hathaway Specialty Insurance, Brown & Brown, Gard, Hannover Re, Lampe & Schwartze, HDFC ERGO General Insurance, Gallagher, Marsh, Jardine Lloyd Thompson Group, Lockton, Mitsui Sumitomo Insurance, Munich Re, Sirius International Insurance Group, SOMPO Taiwan Brokers, Swiss Re, Thomas Miller, Tokio Marine Holdings, United India Insurance, Willis Towers Watson, XL Catlin, Zurich Insurance, and Chubb.

This report segments the global marine insurance market into:

Global Marine Insurance Market: Type Analysis

  • Transport/Cargo
  • Hull
  • Offshore/Energy
  • Marine Liability

Global Marine Insurance Market: Insurance Analysis

  • Loss/Damage
  • Fire/Explosion
  • Natural Calamity
  • Others

Global Marine Insurance Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global marine insurance market, 2016-2026 (USD Million)
    • 2.2. Global marine insurance market: Snapshot
  •  
  • Chapter 3. Marine Insurance Market - Industry Dynamics
    • 3.1. Introduction
    • 3.2. Market drivers
      • 3.2.1. Global marine insurance market drivers: Impact analysis
      • 3.2.2. The growing use of Online Portals
      • 3.2.3. Increasing Internet of Things (IoT) usage
    • 3.3. Market Restraints
      • 3.3.1. Global marine insurance market restraints: Impact analysis
      • 3.3.2. Sluggish Global Trade
    • 3.4. Opportunities
      • 3.4.1. Opportunities in the Asian market
    • 3.5. Porter's Five Forces Analysis
    • 3.6. Market attractiveness analysis
      • 3.6.1. Market attractiveness analysis, by type
      • 3.6.2. Market attractiveness analysis, by insurance
      • 3.6.3. Market attractiveness analysis, by region
  •  
  • Chapter 4. Global Marine Insurance Market - Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global marine insurance market: company market share, 2018
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New material launch
      • 4.2.3. Agreements, partnerships, collaborations, and joint ventures
      • 4.2.4. Research and development and regional expansion
  •  
  • Chapter 5. Global Marine Insurance Market - Type Analysis
    • 5.1. Global marine insurance market: Type overview
      • 5.1.1. Global marine insurance market revenue share, by type, 2018 and 2026
    • 5.2. Transport/Cargo
      • 5.2.1. Global marine insurance market for transport/cargo, 2016-2026 (USD Million)
    • 5.3. Hull
      • 5.3.1. Global marine insurance market for hull, 2016-2026 (USD Million)
    • 5.4. Offshore/Energy
      • 5.4.1. Global marine insurance market for offshore/energy, 2016-2026 (USD Million)
    • 5.5. Marine Liability
      • 5.5.1. Global marine insurance market for marine liability, 2016-2026 (USD Million)
  •  
  • Chapter 6. Global Marine Insurance Market - Insurance Analysis
    • 6.1. Global marine insurance market: Insurance overview
      • 6.1.1. Global marine insurance market revenue share, by insurance, 2018 and 2026
    • 6.2. Loss/Damage
      • 6.2.1. Global marine insurance market for loss/damage, 2016-2026 (USD Million)
    • 6.3. Fire/Explosion
      • 6.3.1. Global marine insurance market for fire/explosion, 2016-2026 (USD Million)
    • 6.4. Natural Calamity
      • 6.4.1. Global marine insurance market for natural calamity, 2016-2026 (USD Million)
    • 6.5. Others
      • 6.5.1. Global marine insurance market for others, 2016-2026 (USD Million)
  •  
  • Chapter 7. Global Marine Insurance Market - Regional Analysis
    • 7.1. Global marine insurance market: Regional overview
      • 7.1.1. Global marine insurance market revenue share, by region, 2018 and 2026
    • 7.2. North America
      • 7.2.1. North America marine insurance market, 2016-2026 (USD Million)
      • 7.2.2. North America marine insurance market revenue, by type, 2016-2026 (USD Million)
      • 7.2.3. North America marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.2.4. The U.S.
        • 7.2.4.1. The U.S. marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.2.4.2. The U.S. marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.2.5. Canada
        • 7.2.5.1. Canada marine insurance market revenue, by liquid type, 2016-2026 (USD Million)
        • 7.2.5.2. Canada marine insurance market revenue, by insurance, 2016-2026 (USD Million)
    • 7.3. Europe
      • 7.3.1. Europe marine insurance market, 2016-2026 (USD Million)
      • 7.3.2. Europe marine insurance market revenue, by type, 2016-2026 (USD Million)
      • 7.3.3. Europe marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.3.4. UK
        • 7.3.4.1. UK marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.3.4.2. UK marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.3.5. Germany
        • 7.3.5.1. Germany marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.3.5.2. Germany marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.3.6. France
        • 7.3.6.1. France marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.3.6.2. France marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.3.7. Spain
        • 7.3.7.1. Spain marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.3.7.2. Spain marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.3.8. Italy
        • 7.3.8.1. Italy marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.3.8.2. Italy marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.3.9. Rest of Europe
        • 7.3.9.1. Rest of Europe marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.3.9.2. Rest of Europe marine insurance market revenue, by insurance, 2016-2026 (USD Million)
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific marine insurance market, 2016-2026 (USD Million)
      • 7.4.2. Asia Pacific marine insurance market revenue, by type, 2016-2026 (USD Million)
      • 7.4.3. Asia Pacific marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.4.4. China
        • 7.4.4.1. China marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.4.4.2. China marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.4.5. Japan
        • 7.4.5.1. Japan marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.4.5.2. Japan marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.4.6. India
        • 7.4.6.1. India marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.4.6.2. India marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.4.7. Singapore
        • 7.4.7.1. Singapore marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.4.7.2. Singapore marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.4.8. Rest of Asia Pacific
        • 7.4.8.1. Rest of Asia Pacific marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.4.8.2. Rest of Asia Pacific marine insurance market revenue, by insurance, 2016-2026 (USD Million)
    • 7.5. Latin America
      • 7.5.1. Latin America marine insurance market, 2016-2026 (USD Million)
      • 7.5.2. Latin America marine insurance market revenue, by type, 2016-2026 (USD Million)
      • 7.5.3. Latin America marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.5.4. Brazil
        • 7.5.4.1. Brazil marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.5.4.2. Brazil marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.5.5. Rest of Latin America
        • 7.5.5.1. Rest of Latin America marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.5.5.2. Rest of Latin America marine insurance market revenue, by insurance, 2016-2026 (USD Million)
    • 7.6. The Middle East and Africa
      • 7.6.1. The Middle East and Africa marine insurance market, 2016-2026 (USD Million)
      • 7.6.2. The Middle East and Africa marine insurance market revenue, by type, 2016-2026 (USD Million)
      • 7.6.3. The Middle East and Africa marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.6.4. GCC Countries
        • 7.6.4.1. GCC Countries marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.6.4.2. GCC Countries marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.6.5. South Africa
        • 7.6.5.1. South Africa marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.6.5.2. South Africa marine insurance market revenue, by insurance, 2016-2026 (USD Million)
      • 7.6.6. Rest of MEA
        • 7.6.6.1. Rest of MEA marine insurance market revenue, by type, 2016-2026 (USD Million)
        • 7.6.6.2. Rest of MEA marine insurance market revenue, by insurance, 2016-2026 (USD Million)
  •  
  • Chapter 8. Company Profile
    • 8.1. Allianz
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product Portfolio
      • 8.1.4. Business Strategy
      • 8.1.5. Recent Developments
    • 8.2. American International
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product Portfolio
      • 8.2.4. Business Strategy
      • 8.2.5. Recent Developments
    • 8.3. Anderson Insurance Agency
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product Portfolio
      • 8.3.4. Business Strategy
      • 8.3.5. Recent Developments
    • 8.4. Aries Marine Insurance Brokers
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product Portfolio
      • 8.4.4. Business Strategy
      • 8.4.5. Recent Developments
    • 8.5. Ascot
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product Portfolio
      • 8.5.4. Business Strategy
      • 8.5.5. Recent Developments
    • 8.6. Atrium
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product Portfolio
      • 8.6.4. Business Strategy
      • 8.6.5. Recent Developments
    • 8.7. AXA Insurance Company
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product Portfolio
      • 8.7.4. Business Strategy
      • 8.7.5. Recent Developments
    • 8.8. Beazley
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product Portfolio
      • 8.8.4. Business Strategy
      • 8.8.5. Recent Developments
    • 8.9. Berkshire Hathaway Specialty Insurance
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Product Portfolio
      • 8.9.4. Business Strategy
      • 8.9.5. Recent Developments
    • 8.10. Brown & Brown
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Product Portfolio
      • 8.10.4. Business Strategy
      • 8.10.5. Recent Developments
    • 8.11. Gard
      • 8.11.1. Overview
      • 8.11.2. Financials
      • 8.11.3. Product Portfolio
      • 8.11.4. Business Strategy
      • 8.11.5. Recent Developments
    • 8.12. Hannover Re
      • 8.12.1. Overview
      • 8.12.2. Financials
      • 8.12.3. Product Portfolio
      • 8.12.4. Business Strategy
      • 8.12.5. Recent Developments
    • 8.13. Lampe & Schwartze
      • 8.13.1. Overview
      • 8.13.2. Financials
      • 8.13.3. Product Portfolio
      • 8.13.4. Business Strategy
      • 8.13.5. Recent Developments
    • 8.14. HDFC ERGO General Insurance
      • 8.14.1. Overview
      • 8.14.2. Financials
      • 8.14.3. Product Portfolio
      • 8.14.4. Business Strategy
      • 8.14.5. Recent Developments
    • 8.15. Gallagher
      • 8.15.1. Overview
      • 8.15.2. Financials
      • 8.15.3. Product Portfolio
      • 8.15.4. Business Strategy
      • 8.15.5. Recent Developments
    • 8.16. Marsh
      • 8.16.1. Overview
      • 8.16.2. Financials
      • 8.16.3. Product Portfolio
      • 8.16.4. Business Strategy
      • 8.16.5. Recent Developments
    • 8.17. Jardine Lloyd Thompson Group
      • 8.17.1. Overview
      • 8.17.2. Financials
      • 8.17.3. Product Portfolio
      • 8.17.4. Business Strategy
      • 8.17.5. Recent Developments
    • 8.18. Lockton
      • 8.18.1. Overview
      • 8.18.2. Financials
      • 8.18.3. Product Portfolio
      • 8.18.4. Business Strategy
      • 8.18.5. Recent Developments
    • 8.19. Munich Re
      • 8.19.1. Overview
      • 8.19.2. Financials
      • 8.19.3. Product Portfolio
      • 8.19.4. Business Strategy
      • 8.19.5. Recent Developments
    • 8.20. Sirius International Insurance
      • 8.20.1. Overview
      • 8.20.2. Financials
      • 8.20.3. Product Portfolio
      • 8.20.4. Business Strategy
      • 8.20.5. Recent Developments
    • 8.21. SOMPO Taiwan Brokers
      • 8.21.1. Overview
      • 8.21.2. Financials
      • 8.21.3. Product Portfolio
      • 8.21.4. Business Strategy
      • 8.21.5. Recent Developments
    • 8.22. Swiss Re
      • 8.22.1. Overview
      • 8.22.2. Financials
      • 8.22.3. Product Portfolio
      • 8.22.4. Business Strategy
      • 8.22.5. Recent Developments
    • 8.23. Thomas Miller
      • 8.23.1. Overview
      • 8.23.2. Financials
      • 8.23.3. Product Portfolio
      • 8.23.4. Business Strategy
      • 8.23.5. Recent Developments
    • 8.24. Tokio Marine Holdings
      • 8.24.1. Overview
      • 8.24.2. Financials
      • 8.24.3. Product Portfolio
      • 8.24.4. Business Strategy
      • 8.24.5. Recent Developments
    • 8.25. United India Insurance
      • 8.25.1. Overview
      • 8.25.2. Financials
      • 8.25.3. Product Portfolio
      • 8.25.4. Business Strategy
      • 8.25.5. Recent Developments
    • 8.26. Willis Towers Watson
      • 8.26.1. Overview
      • 8.26.2. Financials
      • 8.26.3. Product Portfolio
      • 8.26.4. Business Strategy
      • 8.26.5. Recent Developments
    • 8.27. XL Catlin
      • 8.27.1. Overview
      • 8.27.2. Financials
      • 8.27.3. Product Portfolio
      • 8.27.4. Business Strategy
      • 8.27.5. Recent Developments
    • 8.28. Zurich Insurance
      • 8.28.1. Overview
      • 8.28.2. Financials
      • 8.28.3. Product Portfolio
      • 8.28.4. Business Strategy
      • 8.28.5. Recent Developments
    • 8.29. Chubb
      • 8.29.1. Overview
      • 8.29.2. Financials
      • 8.29.3. Product Portfolio
      • 8.29.4. Business Strategy
      • 8.29.5. Recent Developments

List of Figures

1. Market research process
2. Market research methodology
3. Global marine insurance market revenue, 2016–2026 (USD Million)
4. Porter’s Five Forces Analysis
5. Marine Insurance market attractiveness analysis, by type
6. Marine Insurance market attractiveness analysis, by insurance
7. Marine Insurance market: market attractiveness analysis, by region
8. Company market share analysis, 2018
9. Global marine insurance market revenue share by, type, 2018 and 2026
10. Global marine insurance market for transport/cargo, 2016–2026 (USD Million)
11. Global marine insurance market for hull, 2016–2026 (USD Million)
12. Global marine insurance market for offshore/energy, 2016–2026 (USD Million)
13. Global marine insurance market for marine liability, 2016–2026 (USD Million)
14. Global marine insurance market revenue share by insurance, 2018 and 2026
15. Global marine insurance market for loss/damage, 2016–2026 (USD Million)
16. Global marine insurance market for fire/explosion, 2016–2026 (USD Million)
17. Global marine insurance market for natural calamity, 2016–2026 (USD Million)
18. Global marine insurance market for others, 2016–2026 (USD Million)
19. North America marine insurance market, 2016–2026 (USD Million)
20. Europe marine insurance market, 2016–2026 (USD Million)
21. Asia Pacific marine insurance market, 2016–2026 (USD Million)
22. Latin America marine insurance market, 2016–2026 (USD Million)
23. The Middle East and Africa marine insurance market, 2016–2026 (USD Million)


List of Tables

1. Global marine insurance market: Market Snapshot
2. Drivers of the global marine insurance market: Impact analysis
3. Restraints of the global marine insurance market: Impact analysis
4. North America marine insurance market revenue, by type, 2016–2026 (USD Million)
5. North America marine insurance market revenue, by insurance, 2016–2026 (USD Million)
6. The U.S. marine insurance market revenue, by type, 2016–2026 (USD Million)
7. The U.S. marine insurance market revenue, by insurance, 2016–2026 (USD Million)
8. Canada marine insurance market revenue, by type, 2016–2026 (USD Million)
9. Canada marine insurance market revenue, by insurance, 2016–2026 (USD Million)
10. Europe marine insurance market revenue, by type, 2016–2026 (USD Million)
11. Europe marine insurance market revenue, by insurance, 2016–2026 (USD Million)
12. UK marine insurance market revenue, by type, 2016–2026 (USD Million)
13. UK marine insurance market revenue, by insurance, 2016–2026 (USD Million)
14. Germany marine insurance market revenue, by type, 2016–2026 (USD Million)
15. Germany marine insurance market revenue, by insurance, 2016–2026 (USD Million)
16. France marine insurance market revenue, by type, 2016–2026 (USD Million)
17. France marine insurance market revenue, by insurance, 2016–2026 (USD Million)
18. Spain marine insurance market revenue, by type, 2016–2026 (USD Million)
19. Spain marine insurance market revenue, by insurance, 2016–2026 (USD Million)
20. Italy marine insurance market revenue, by type, 2016–2026 (USD Million)
21. Italy marine insurance market revenue, by insurance, 2016–2026 (USD Million)
22. Rest of Europe marine insurance market revenue, by type, 2016–2026 (USD Million)
23. Rest of Europe marine insurance market revenue, by insurance, 2016–2026 (USD Million)
24. Asia Pacific marine insurance market revenue, by type, 2016–2026 (USD Million)
25. Asia Pacific marine insurance market revenue, by insurance, 2016–2026 (USD Million)
26. China marine insurance market revenue, by type, 2016–2026 (USD Million)
27. China marine insurance market revenue, by insurance, 2016–2026 (USD Million)
28. Japan marine insurance market revenue, by type, 2016–2026 (USD Million)
29. Japan marine insurance market revenue, by insurance, 2016–2026 (USD Million)
30. India marine insurance market revenue, by type, 2016–2026 (USD Million)
31. India marine insurance market revenue, by insurance, 2016–2026 (USD Million)
32. Rest of Asia Pacific marine insurance market revenue, by type, 2016–2026 (USD Million)
33. Rest of Asia Pacific marine insurance market revenue, by insurance, 2016–2026 (USD Million)
34. Latin America marine insurance market revenue, by type, 2016–2026 (USD Million)
35. Latin America marine insurance market revenue, by insurance, 2016–2026 (USD Million)
36. Brazil marine insurance market revenue, by type, 2016–2026 (USD Million)
37. Brazil marine insurance market revenue, by insurance, 2016–2026 (USD Million)
38. Rest of Latin America marine insurance market revenue, by type, 2016–2026 (USD Million)
39. Rest of Latin America marine insurance market revenue, by insurance, 2016–2026 (USD Million)
40. The Middle East and Africa marine insurance market revenue, by type, 2016–2026 (USD Million)
41. The Middle East and Africa marine insurance market revenue, by insurance, 2016–2026 (USD Million)
42. GCC Countries marine insurance market revenue, by type, 2016–2026 (USD Million)
43. GCC Countries marine insurance market revenue, by insurance, 2016–2026 (USD Million)
44. South Africa marine insurance market revenue, by type, 2016–2026 (USD Million)
45. South Africa marine insurance market revenue, by insurance, 2016–2026 (USD Million)
46. Rest of MEA marine insurance market revenue, by type, 2016–2026 (USD Million)
47. Rest of MEA marine insurance market revenue, by insurance, 2016–2026 (USD Million)

Methodology

Free Analysis

Marine insurance includes the damages or losses caused to terminals, ships, and transport or cargo that acquire, transfer, or hold goods between different points of source and final terminus. The term “marine insurance” also relates to inland marine. However, it is typically used in the setting of marine insurance of ocean. The damages caused to ships and transported cargoes are included in marine insurance. The sea is the riskiest route of transportation. The huge need for insurance in the marine industry is propelling the growth of the marine insurance market globally. Moreover, the use of online gateways is also expected to boost the global marine insurance market development in the future. The introduction of advanced technologies in the marine industry, such as digitization and analytics, is further propelling the marine insurance market globally.

The marine insurance market is fragmented into type and insurance. By type, the global marine insurance market includes transport/cargo, hull, offshore/energy, and marine liability. The transport/cargo insurance segment accounted for a major share, i.e., more than 50%, in 2018 and is expected to register a high growth rate over the forecast time period. Based on insurance, the global marine insurance market includes loss/damage, fire/explosion, natural calamity, and others. The loss/damage segment accounted for the largest market share, i.e., around 60%, in 2018, due to the increasing marine cases of accidental damages.

Global Marine Insurance Market

By geography, Europe accounted for the largest share of the global marine insurance market in 2018 and is expected to remain dominant over the forecast time period as well. Marine transport is one of the most important drivers of the European economy, as it carries half of Europe’s goods and maintains millions of jobs. Thus, there is an increased demand for marine insurance in the region, which is anticipated to boost the growth of the European marine insurance market in the years ahead. Asia Pacific is expected to register the highest CAGR in the future in the global marine insurance market.

Some key players operating in the global marine insurance market are Allianz, American International, Anderson Insurance Agency, Aries Marine Insurance Brokers, Ascot, Atrium, AXA, Beazley, Berkshire Hathaway Specialty Insurance, Brown & Brown, Gard, Hannover Re, Lampe & Schwartze, HDFC ERGO General Insurance, Gallagher, Marsh, Jardine Lloyd Thompson Group, Lockton, Mitsui Sumitomo Insurance, Munich Re, Sirius International Insurance Group, SOMPO Taiwan Brokers, Swiss Re, Thomas Miller, Tokio Marine Holdings, United India Insurance, Willis Towers Watson, XL Catlin, Zurich Insurance, and Chubb.

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