Marine Insurance Premiums Expected To Hit $12.7B

Marine insurance premiums are expected to total around $12.7 billion for 1998, and about $10.7 billion for 1999, Tore Forsmo, managing director of Norway's Central Union of Marine Underwriters (CEFOR) said. The figures compare with $13.1 billion for 1997. Forsmo was speaking on the opening day of the International Union of Marine Insurance (IUMI) 2000 conference in London. Forsmo said the following reported figures represent around 95 percent of the total marine premiums written by all IUMI members for 1998, and about 79 percent for 1999, representing 44 out of the 54 associations that had reported by the end of August 2000.