The discussion, moderated by Gabriel Villalobos of ALSUM with the participation of Erika de Gallagher Re and Xavier Pazmiño of Chubb, analyzed the performance of marine insurance in 2025 and its outlook for 2026. On a macroeconomic level, it was highlighted that, despite global volatility, trade tensions, and electoral processes in the region, Latin America showed resilience, benefiting from nearshoring, its proximity to the United States, and its commodity export profile. It was evident that the growth of marine insurance premiums is more closely linked to the dynamism of imports and exports than to GDP, in a regional context of moderate growth of around 2.3%. In the technical diagnosis, panelists warned of structural risks such as increased crime in freight transport, political uncertainty, and more severe catastrophic events. They also pointed to the current moment in the insurance cycle, characterized by competition and softer conditions, which requires discipline and preparation for a possible hard market. The conclusion was that, although the environment is complex, there are clear opportunities, especially in the face of insurance gaps, and that the key will be resilience, technical knowledge, adequate accumulation management, and prevention.