Maritime Insurance

    Maritime insurance includes direct and inwards (reinsurance), domestic and cross-border business for two main insurance classes:
  • Hull (ocean hull, fishing vessel, inland hull and pleasure craft), including road hull liability and energy/offshore insurance: the class covers container terminals, harbours, offshore platforms and submarine pipelines;
  • maritime, inland waterway and road carried cargo and CMR-based carrier liability (CMR: "Convention on the Contract for the International Carriage of Goods by Road").

Maritime insurance is thus defined as maritime and transport related, and also covers inland operations. The overall turnover (yearly amounts of premium income) is the only published indicator characterizing the industry as a whole and broken down by insurance class. In the Table below, maritime insurance value added and employment are estimated shares of these indicators for the insurance branch, based on the industry's data and on insurance official statistics from INSEE.

1. Units: million euros, number of staff
2. Gross premium income. Ordinary and war risks, direct and inwards business, including inland hull and pleasure craft, inland waterway and road cargo, and road hull liability.
3. Estimated contribution to the turnover of the insurance sector (accounts of sector S125) based on the industry's data.
4. Estimated contribution to the value added of the insurance sector. Estimates based on maritime and transport insurance premiums and on national accounts / insurance branch (base 2005, period 2006-2009).
5. Estimated contribution to FTE employment in the insurance sector. Estimates based on the industry's data and on national accounts / insurance branch (base 2005, period 2006-2009).
6. Semi-definitive data for 2009.
Sources: FFSA French Insurance Company Association, INSEE

Comments

  • The French companies are quasi-absent from the energy/offshore insurance business;
  • The French insurance policy for hull in construction covers vessels during construction.