Hong Kong selected as Asian Hub of International Union of Marine Insurance


The Hong Kong Federation of Insurers (HKFI) today (24 October 2016) welcomes the setting up by the International Union of Marine Insurance (IUMI) of its Asian Hub in Hong Kong, the first ever regional chapter in IUMI’s history. 
“The Asian marine insurance market accounts for almost 30% of global premium income and world trade in this region continues to grow. The opening of our new Asian hub, based in Hong Kong, recognises this significant contribution”, said Mr Dieter Berg, President of the IUMI. “Through this initiative, we hope to align IUMI more closely with the activities and aspirations of our colleagues in Asia and ensure that IUMI remains relevant and of service to this very important region. We are extremely grateful to the Hong Kong Federation of Insurers for its support and expertise.”
As IUMI’s Asian Hub, the HKFI will help promote marine insurance in the region and conduct quality training / conferences to upgrade the industry’s professional standard.  As the same time, the HKFI will step up to help IUMI raise its profile in the region and build a broader network.

“The Union’s move on the one hand recognises the increasing importance of Asia in the marine insurance industry, and on the other highlights Hong Kong’s position as a prominent industry player in Asia,” said Professor Anthony Cheung Bing Leung, Secretary for Transport and Housing.  “The Asian Hub will promote the development of marine insurance in Hong Kong, as well as in the Mainland, and the rest of the Asia-Pacific region, and connect with the industry around the region. By unleashing the unique advantages and soft power of Hong Kong’s maritime industry, the Asian Hub will further raise Hong Kong’s profile as a maritime services hub.”

“The Hong Kong Federation of Insurers is greatly honoured to take up this important and historic role in the marine insurance arena,” said Mr Ronnie Ng, Chairman of the Hong Kong Federation of Insurers.  “We have years of close partnership with the International Union of Marine Insurance and a cordial working relationship with our counterparts in the region.  We are confident that Hong Kong will be the ‘super-connector’ between IUMI and our neighbouring markets and help propel the marine insurance industry in the region to a new height.” 

About IUMI:
The International Union of Marine Insurance e.V. (IUMI) is a non-profit association established for the purpose of protecting, safeguarding and advancing insurers' interests in marine and all types of transport insurance. It also provides an essential forum to discuss and exchange ideas, information and statistics of common interest for marine underwriters and in exchange with other marine professionals. IUMI is also engaged in education purposes. IUMI currently represents 45 national and marine market insurance and reinsurance associations.
The roles of IUMI are to:

  • act as a focal point and representative voice on behalf of the marine and transport insurance industries in dialogue with all interested parties,

  • share information and research that are non-commercially sensitive with regard to marine and transport insurance,

  • bring together marine insurance practitioners to facilitate the exchange of technical information and best practice, and

  • provide information on positions taken by IUMI.

Related media release are available at the following links:

HKSAR Chief Executive’s blog: (only available in Chinese)
Professor Cheung’s speech:
HKSAR’s press release:
IUMI’s press release: (only available in English)

Please click here to view more photos of the event.