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US inland marine insurers still outperform wider P&C underwriting
AM Best said premium growth remains limited and competition is increasing even as underwriting results hold up better than in the broader property and casualty market.
The US inland marine insurance market continues to generate stronger underwriting performance than the wider property and casualty sector, even as industry conditions pressure insurers, according to AM Best.
AM Best attributed the relative outperformance to underwriting results that have remained firmer despite a market backdrop that includes limited premium growth.
In the same assessment, AM Best said competition in the inland marine space is intensifying, which could make it harder for insurers to sustain profitable underwriting without further changes.
The findings come from AM Best’s latest Best’s Market Segment Report, which reviews performance trends in the US inland marine segment versus broader P&C dynamics.