Aging Fleets and New Capacity Fuel Price War in Marine Hull Market – Gallagher
The marine hull and machinery insurance market is facing a tough year ahead. Despite intense competition among insurers, rising ship values, aging fleets, and increasing repair costs are creating challenges for underwriters. In 2024, global premiums for marine hull insurance climbed 3.5% to nearly $9.7 billion, while the overall value of the world’s fleet grew … Read more