IUMI opens new overseas hub in Asia
The International Union of Marine Insurance (IUMI) announced the opening of a new overseas hub in Asia – this is the first time in the organisation’ s 142 year history that it has established a permanent presence outside of Europe, IUMI said in its press release.
Making the announcement at the 4 th Asia Marine Insurance Conference, IUMI President, Dieter Berg said, “ The Asian marine insurance market accounts for almost 30% of global premium income and global trade in this region continues to grow. The opening of our new Asian hub, based in Hong Kong, recognises this significant contribution. Through this initiative, we hope to align IUMI more closely with the activities and aspirations of o ur colleagues in Asia and ensure that IUMI remains relevant and of service to this very important region”.
The Asian hub was created to give IUMI more visibility in the region and to help foster closer cooperation with its Asian members and the maritime industry in general. The new hub will facilitate the regular exchange of views between members as well as with governments, authorities, regulators and NGOs. In addition, IUMI will use the hub to share global insurance expertise and promote education and training for marine insurance practitioners across the region.
The new hub will also help broaden IUMI’s Asian membership. The new hub has been created with the strong support of the Hong Kong Federation of Insurers (HKFI) who were instrumental in its set - up and who will provide the secretariat. HKFI has a long association with IUMI, having organised a number of IUMI events and conferences in Hong Kong as well as being represented on IUMI’s executive and technical committees.
The International Union of Marine Insurance (IUMI) is a professional body which is run by and for its members. IUMI represents national and international marine insurers and considers issues of interest to the worldwide marine insurance industry. IUMI currently has 4 5 national associations as members, protecting and advancing their interests. IUMI’s roots date back to 1874.