Ocean Marine TIDE-INGS

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A Message from Divisional President, Michael Csorba

I recently surveyed 28 Marine Carriers/Reinsurers for the “State of the Marine Market” presentation I delivered at the BMUSF seminar in April. The good news is that the market is in a healthy position after growing to $4.2 billion and results improved in 2020 and 2021. The market loss ratio improved by 4.5 points and 3 points respectively, per AM Best. The majority of markets plan to grow in 2022 (primarily with rate and exposure) and add staff new to Ocean Marine.

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