Marine Market Survey 2025

Maximize in-depth knowledge of the marine market for a competitive edge.

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Uncover the nuances of the global marine insurance market to make informed decisions and gain a competitive advantage.

The Munich Re Marine Market Survey provides a detailed analysis of the market, breaking it down into sectors and highlighting the influence of world trade, economic trends and geopolitical events. It provides qualitative evaluations of overall primary ocean marine market conditions and specific marine business lines (where data is available).

Definitions of the market condition categories

Extremely Hard
Significant increases in rates/premium across majority of line of business. Multiple years of rate increases achieved to attain technically adequate levels and meet/exceed cost of capital and required returns. Placements on challenging classes unable to be completed. Outlook excellent.
Hard
Rates/premiums increasing across line of business and terms/conditions improving. Loss affected accounts addressed with significant corrective action. Rate/premium increases exceeding loss trend/claims inflation. Results improving (C/R below 90%). Further restriction in appetite/capacity deployment. Outlook good.
Good
Rates/premiums increasing. Loss affected accounts addressed with corrective action. Rate of premium/rate change exceeds that of claims trend/inflation. Results marginal and outlook improving. Appetites/capacity deployment restricting. C/R low 90's.
Stable
Premium rate change >= loss trend/claims inflation. Results marginal (premiums adequate to cover loss and expenses but not fully cover cost of capital and required returns)
Deficient
Rates/premium below technically adequate (risk adequate) levels. Rate of claims trend/inflation exceeding premium rate changes. Results unprofitable.
Extremely Deficient
Rates/premium significantly below technically adequate (risk adequate) levels. Multiple years of rate/premium reductions and broadening of coverage/terms drive unprofitable and unsustainable results. Markets exiting class and outlook poor.

Download our full marine market condition evaluation

Take a detailed look at the results of the Marine Market Survey. Explore the regional variations and the facts behind them. Discover the key challenges and opportunities in our sector-by-sector analysis.

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