Maritime Insurance Market size is growing at a CAGR of 6.60%

The Global Maritime Insurance Market size is expected to be worth around USD 57.8 Billion By 2034, from USD 30.5 Billion in 2024, growing at a CAGR of 6.60% during the forecast period from 2025 to 2034. The Asia-Pacific region held a dominant position in the global maritime insurance market in 2024, capturing more than 38.2% of the market share, with revenues amounting to USD 11.6 billion.

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1) What is maritime insurance?

Maritime (or marine) insurance protects parties against financial loss tied to maritime activity: ships and hulls, cargo in transit, offshore installations, port facilities, and liabilities arising from collisions, pollution, crew injury and third-party claims. Core coverages include Hull & Machinery, Cargo, P&I (Protection & Indemnity / liability), Offshore & Energy, War & Strikes, and specialty covers such as Freight, Demurrage & Defence (FD&D).