IUMI
International Union of Marine Insurance; global trade body representing marine underwriters.
Last refreshed: 26 April 2026 · Appears in 1 active topic
If IUMI represents 40 national marine insurance bodies, why can't it force a coordinated response to the Iran crisis?
Timeline for IUMI
Mentioned in: Five vessels, no AIS: Hormuz goes dark
Iran Conflict 2026- What is IUMI and what role does it play in marine insurance?
- IUMI is the International Union of Marine Insurance, a Zurich-based trade body representing approximately 40 national and international marine insurance associations covering around $30 billion in annual premiums. It publishes industry statistics and liaises with the IMO.
- How much has marine insurance gone up for Persian Gulf routes in 2026?
- IUMI data and its member associations' reporting indicate war-risk premiums for Persian Gulf routes rose significantly from 2025 levels after the 2026 Iran conflict began; specific percentage increases vary by route and vessel type.Source: IUMI
- Who are the main marine insurance organisations in the world?
- Key players include the International Group of P&I Clubs (liability), Lloyd's of London (hull and cargo), IUMI member associations in Germany (HDI), Switzerland, Japan, and Scandinavia, and state-backed insurers in China (PICC) and Russia (Ingosstrakh).
Background
The International Union of Marine Insurance (IUMI) is the global trade association for marine underwriters, representing approximately 40 national and international member organisations covering roughly USD 30 billion in annual marine insurance premiums. Founded in 1874 and headquartered in Zurich, IUMI publishes annual statistics on global marine insurance markets, convenes technical committees on cargo, hull, offshore, and loss prevention, and engages with international regulatory bodies including the IMO and ISM Code committees.
In the context of the 2026 Iran conflict, IUMI's data and analysis provided the authoritative industry-wide view of how the Persian Gulf crisis was reshaping marine underwriting: war-risk premiums rose sharply, hull coverage for Iran-adjacent routes became difficult to place, and cargo underwriters increasingly excluded Iranian-origin or Iran-transiting goods. IUMI's statistical releases were cited by Drewry and Clarksons analysts quantifying the insurance-cost component of the Hormuz disruption premium.
IUMI does not itself underwrite policies — it is a trade body — but its member associations include Lloyd's, the German HDI, Allianz, and most major national marine insurance bodies. Its annual conference, held in a different member city each year, is where the industry's collective response to major events such as the Red Sea Houthi crisis and the Iran conflict is discussed and documented.