The international marine cargo insurance market was described as having softened in 2025 even as the overall premium base continued to expand, according to research reported citing the International Union of Marine Insurance.
Sources published the item on 22 September 2026, relaying the principal finding from IUMI’s latest research on global cargo insurance premiums. The report, as summarised by the publication, draws attention to a divergence between headline premium growth and the underlying market tone for cargo risks.
IUMI’s research recorded global cargo premiums of USD 24.2 billion for 2025, the summary notes, and states this figure represented a 6.9% increase on the prior year. Those two data points form the core of the published finding: absolute premium income rose while IUMI characterised the cargo market as having softened during the same period.
The use of the term softened in the IUMI summary points to a market in which conditions eased from tighter levels, even though the aggregate premium pool widened. That paradox can reflect shifts in pricing, capacity or the composition of insured exposures without contradicting a rise in the total sum of premiums collected.
What softened may signify
Softening is commonly used in insurance market commentary to describe a relaxation of conditions that previously supported higher rates or stricter underwriting. In the context reported, the phrase accompanies the numerical increase in premium receipts and therefore signals a change in market dynamics rather than a fall in income.
How the market picture reads
For market participants, the juxtaposition of growing premium volumes with a softer market tone could influence renewal strategies, capacity placement and risk appetite, as carriers and underwriters reassess terms and limits. The IUMI-led observation, as presented in the report, underlines how headline growth in premium income does not automatically equate to firmer commercial terms for cargo cover.
Taken together, the IUMI research cited by reports provides a succinct snapshot: cargo premium volumes rose to USD 24.2 billion in 2025, an increase of 6.9% year on year, while the market’s character was judged to have softened. The detail as set out in the published summary invites insurers, brokers and shippers to read beyond totals when assessing market direction.
The reports item of 22 September 2026 serves as the conduit for IUMI’s finding; the association’s research remains the source of the figures and the market assessment reported. Those wishing to examine the underlying analysis further should consult IUMI’s published material as referenced in the news report.