Best’s News & Research Service - October 08, 2021 09:55 AM (EDT)
Update: Best’s Rankings: US Ocean Marine 2020 Premiums Increase 5.8%
OLDWICK, N.J. //BestWire// - (Corrects the value of direct premiums written in the second paragraph) The value of direct premiums written for the total U.S. ocean marine industry increased 5.8% to $4.17 billion in 2020, according to a new Best’s Rankings report.
There was little movement among the top five companies in the ranking, with American International Group Inc. remaining the leader with $626.52 million in direct premiums written, up 4.2%. The biggest increase in the top 10 was Great American P & C Insurance Group, which jumped from No. 12 to No. 8 with a 29.8% hike in 2020 direct premiums written of $153.23 million.
The AM Best ranking measures direct premiums written for the U.S. ocean marine industry for 2020 and the percentage change, as well as market share and adjusted loss ratio.
Subscribers to Best’s News and Research Service can download the report at no charge, including data in spreadsheet format.
Subscribers can access the report and data.
Learn more about Best’s News and Research Service.
(By Frank Klimko, Washington correspondent, BestWeek: Frank.Klimko@ambest.com)