The International Union of Marine Insurance (IUMI) will update the livestock transport entry on its environmental, social and governance (ESG) watch list with reference to a report submitted by organisations campaigning against live exports.
The Global Stop Live Exports Network, a coalition of 38 animal welfare organisations, including Stop Live Export South Africa, wrote to IUMI in July calling for greater scrutiny of the risks associated with underwriting livestock carriers.
Its submission cited findings from the 2026 Global Livestock Fleet Report, which analysed 159 vessels involved in transporting livestock by sea.
According to the report, converted livestock carriers are an average age of 45 years old while 51 vessels are at least 50 years old. It found that 134 of the 159 vessels, or 84%, are not originally built to transport livestock.
The report also stated that 47.3% of the fleet operates under flags appearing on the blacklist of the Paris Memorandum of Understanding (MoU) on Port State Control.
According to the coalition, livestock carriers recorded a detention rate of 15.1% in 2024, almost four times the average across all ship types inspected under the Paris MoU.
The report further stated that 54.7% of the fleet is held through single-vessel corporate structures, many of which are registered in offshore jurisdictions. The coalition argued that these ownership structures could complicate attempts to recover losses when vessels are lost or abandoned.
Lisa Baker, President of Stop Live Exports Australia, said the submission focuses on maritime and underwriting risks rather than the ethics of transporting live animals.
“This is a request to examine the documented maritime risk profile of this vessel category and to consider whether current underwriting practices, industry due diligence standards and reputational exposure frameworks adequately reflect that risk,” she said.
The coalition asked IUMI and its member associations to commission an independent actuarial assessment of the fleet, develop due diligence standards for underwriting livestock carriers and assess whether premiums adequately reflect the risks.
It also asked insurers to consider the potential reputational implications of providing cover to the sector.
IUMI said livestock transport is already included on its ESG watch list and agreed to update the existing entry to reference the 2026 fleet report. It also agreed to meet coalition representatives to discuss the findings.
However, IUMI declined the request to develop sector-specific underwriting standards. It cited competition law considerations and its role as an industry association rather than a regulator.
