Nordic Association of Marine Insurers (Cefor) members collectively increased premium income by $274m last year, according to its latest annual figures.

In 2022, Cefor members received $2.495bn in premium from hull and machinery, protection and indemnity, offshore energy and the cargo markets, compared to $2.221bn in the previous year.

Cefor’s figures reflect the continuing growth of the Nordic insurance market and a hard market in the main marine insurance lines last year.