Minnesota Inland Marine Insurance Profitability (2023)

In 2023, Inland Marine insurers earned $570.4M in premiums in Minnesota and ran a 38.9% loss ratio — the 37th-highest of 51 states (one of the lowest loss ratio for the line).

Source: NAIC 2023 Report on Profitability by Line by State. Loss ratio = incurred losses ÷ premiums earned.

Minnesota loss ratio

38.9%

6.1% below national

Premiums earned

$570.4M

Underwriting profit

29.8%

Nationally, Inland Marine ran a 45.0% loss ratio in 2023, so Minnesota is below the national average. See how every state compares on the Inland Marine market page.

Getting Inland Marine coverage in Minnesota

See recent Minnesota rate filings on the Minnesota rate page, learn how Inland Marine works in our Inland Marine guide, then compare real quotes for your business.

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Data: NAIC 2023 Report on Profitability by Line by State (public). See our data methodology. Figures are industry aggregates, not a quote.