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Inland Marine Prizes Double Decades: Best



Increases in construction expenditure and freight transport have led to a doubling of inland insurance premiums over the past decade, with direct premiums written totaling SEK 24.5 billion in 2018, amounting to $ 13.3 billion in 2009, the credit rating agency A.M. Best Inc. said in a report Tuesday.

The annual premium increase also exceeded 8% over three of the last five years, as economic growth pushed both construction and freight operations, increasing demand for inland shipping, Best

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A disadvantage of the growth in the number of major construction projects over the past decade's economic expansion has been the spread of these types of losses. "Best of all in the report.

The effect has been felt urgently by insurers

Another factor is the introduction of new entrants into the market, which has intensified competition and caused prices to fall and that" could limit long-term profit margins, " best said ".

The real estate industry has been more successful insurance and pricing risks in the marine segment with a 20 percentage point advantage in loss and loss adjustment cost ratio than in

"Since 201

2, the highest aggregate ratio in the segment has been 89.9 (2017), indicating strong profitability. " Best said in his report Economic growth and specialization Bolstering Inland Marine Expansion.

                    


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