Pune, July 01, 2025 (GLOBE NEWSWIRE) --

The increasing processing of global maritime commerce, the growing corporate disclosure for risk transition, ensuring regulatory requirements for cargo and ship insurance are driving this growth. Moreover, the increase in geopolitical strife and natural disasters have made the need for complete marine coverage all the more critical. The use of new-age technologies such as blockchain and IoT in the claims management and policy underwriting process improves operational efficiencies and customer trust, which in turn is strengthening the demand.

The U.S. Marine Insurance Market is anticipated to grow from USD 8.76 billion in 2024 to USD 11.42 billion by 2032, registering a CAGR of 3.36% from 2025 to 2032. Growth is driven by expanding port operations, rising cargo volumes, increased demand for customized insurance solutions, and the adoption of digital platforms for faster claims processing and risk assessment.

	US$ 32.31 Billion
	US$ 46.13 Billion
	CAGR of 4.6% From 2024 to 2032
	2023
	2024-2032
	2020-2022
	• By Type (cMOOC, xMOOC) • By Subject Type (Technology, Business, Science, Other)
	Increasing Global Trade Volumes and Complex Supply Chains Drive Need for Risk Mitigation Solutions.

By Coverage, Transport/Cargo Segment Dominates Marine Insurance Market in 2024

In 2024, the transport/cargo segment is expected to lead the marine insurance market with a 35.44% revenue share. Increasing cargo risks, rising global trade, and demand for seamless insurance coverage across multi-modal supply chains are driving growth. Allianz Global and AXA XL have both launched bespoke policies that come equipped with real-time trackers and digital claims that suit soaring e-commerce, exports, and supply chain instability.

By Distribution Channel, Direct Sales Channel Leads in Growth Across Marine Insurance Market

The direct sales segment is recording the fastest CAGR of 5.19%, due to rise in digital adoption and growing trend of self-service policy management. SMEs want to avoid brokers for cost-cutting and agile claims. As more businesses discover the benefits of transparent pricing, quicker service, and an online purchasing experience, insurers such as Zurich and Tokio Marine are broadening access to marine insurance via various online platforms and mobile apps.

By End User, Shipping Companies Segment Witnesses Fastest Growth at 5.63% CAGR

Shipping companies are growing at the fastest CAGR of 5.63%, driven by global fleet expansion and stricter environmental and safety regulations. These companies need hull, liability as well as crew insurance policy protection. Insurers such as Britannia P&I and Skuld provide digital services that can facilitate risk assessment and policy management. It emerges from increasing operational risks, compliance with regulations, and a necessity for integrated insurance amidst sea trade growth.

By Policy, Floating Policies Dominate Marine Insurance Market with 25.41% Share

Floating policies hold the largest market share at 25.41%, favored by businesses managing frequent, high-volume cargo shipments. These types of policies provide continuous coverage without having to renew contracts over and over to save your time and money. IoT functions by insurers such as Chubb and RSA allow tracking of multiple shipments. The segment is flourishing in the backdrop of increasing global trade and a surging demand for flexible, high-tech marine insurance solutions.

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North America Leads Marine Insurance Market, Asia Pacific Marine Insurance Market Grows Fastest

North America holds the largest market share at 40.27%, driven by advanced maritime industrial infrastructure, high volume of international trade, and majority of the major reinsurers. Most of the region already has established regulatory frameworks and recognized the use of digital tools in policy and risk management. Marine Insurance Markets-Continued port upgrade and intermodal logistic investments fuel ongoing demand for marine insurance through both shipping and cargo operations.

Asia Pacific is the fastest-growing marine insurance market, with a 5.54% CAGR, by the rising growth of regional trade, expansion in port capacity and shipbuilding activity in the region. Fleet renewal and digital management of ports are other areas where countries such as China, Japan, and South Korea are investing. Insurable growth the realignment of global trade routes and strong export markets are continuing to drive an acceleration of insurance demand across cargo, vessel and intermodal transport segments.

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