By Ford Swift, CSSC, CMSP
Ringler Settlement Group
According to our friends at IUMI (International Union of Marine Insurance), global GDP is forecasted to grow at 2.7%, which marks a slowdown. Furthermore, the U.S. economy is forecast to grow at 2.3%. No surprise to anyone that we continue to operate in a historically low inflation environment, which also translates to lower annuity rates. The annuity side of life proves that this is a security product versus an income product as the structured settlement industry had a record year with over $6 billion in sales.
2019 was characterized by a renewed impact of major losses and especially a high number of fires on container vessels.
In 2018, global marine insurance premiums reached $28.9 billion, or a 1% increase, and are characterized as follows:
Secondly, marine premiums by region are as follows:
Consider Ringler Settlement Group for any marine claims stateside where we can employ our expertise for you and on your client’s behalf.
Contact Info:
Ford Swift, Ringler Settlement Group
512-522-2109 (Office)
512-857-9710 (Fax)
fswift@ringlerassociates.com