| Trend | Range | |
|---|---|---|
| Hull and machinery (U.S.) |  |
Flat to +2.5% |
| Hull and machinery (London) |  |
-5% to -7.5% |
| Hull and machinery (Scandinavia) | |
Flat to +2.5% |
| P&I (U.S.) |  |
+2.5% to +5% |
| P&I (International club) | |
+5% |
| Marine liability (Primary U.S.A.) | |
Flat to +2.5% |
| Marine liability (Excess U.S.A.) | |
Flat to +5% |
| Marine liability (London) | |
Flat to +5% |
| U.S. L&H mutual | |
Flat to +2.5% |
*All rate projections shown above are subject to good loss record accounts with higher end of range on accounts with greater risk exposure. Increased rates for accounts with adverse loss experience.
| 2023 Q1/2 | 2023 Q3/4 | 2024 Q1/2 | 2024 Q3/4 | 2025 Q1 | |
|---|---|---|---|---|---|
| Hull | 6.25% | 3.75% | 1.25% | 1.25% | 0% |
| P&I | 7.50% | 6.50% | 6.25% | 6.00% | 5% |
| Marine liability | 7.50% | 7.50% | 6% | 5% | 2.5% |
As we move into 2025, the marine insurance market continues to soften with all classes of business under pressure from increased insurer capacity.
To read more, download the full report below.
| Title | File Type | File Size |
|---|---|---|
| Insurance Marketplace Realities 2025 Spring Update | 12.7 MB |
WTW hopes you found the general information provided here informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, WTW offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).
