Based on type, worldwide marine insurance market is divided into marine liability insurance, hull insurance, onshore energy insurance, and cargo insurance. Speaking of application spectrum, the industry is bifurcated into underwater AUV, underwater leisure, on-water commercial & high end leisure, and small recreational boats.

Citing the regional landscape, worldwide marine insurance industry sphere is segmented into North America, Latin America, Asia Pacific, Europe, and Rest of the World. The report claims that Europe currently holds significant market share as it surrounded by waterbodies and encourages marine trades.

Meanwhile, Asia Pacific marine insurance industry is expected to register a decent growth rate through 2027, on account of rising cognizance of marine trade, enhancing marine infrastructure, and technological developments.

Major contenders impacting global marine insurance market trends are RSA Insurance Group plc, Ed Broking LLP, QBE Insurance Group Limited, Central Union of Marine Underwriters (CEFOR), Beazley Group, American International Group Inc., Swiss Re Corporate Solutions Ltd., Marsh & McLennan Companies Inc., Concirrus Ltd., and Lloyd’s of London.

Source- https://www.marketstudyreport.com/reports/global-marine-insurance-market-size-research^[2]

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