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Caribbean Insurance Report 2012

Description:

Business Monitor International's Caribbean Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Caribbean's insurance industry.

As a regional market for insurance, the Caribbean remains something of a backwater, notwithstanding that the combined population of the Dominican Republic, Jamaica and Trinidad and Tobago is about 16mn, and all countries are able to exploit their geographic proximity to the US. In many instances, nonlife and life insurance remains underdeveloped in terms of the metrics that BMI favours (non-life penetration and life density respectively). The exceptions (eg: the non-life segment of Jamaica and the life segment of Trinidad and Tobago) are few.

As is the case in other parts of the world, premium growth appears to have been resilient over the last few years. However, insurers face the challenges of international macroeconomic headwinds, the demands of solvency and the increasing dominance of the regional groups.

The Caribbean Life insurance segment remains underdeveloped, with Trinidad and Tobago the traditional outperformer in the sector. Similarly the non-life insurance segment is also underdeveloped, with Jamaica the regional outperformer in this segment.

The year 2011 has been a tough one for the segment with two major life insurers, CLICO International Life (CIL) and British American Insurance Company (BAICO) – both subsidiaries of the ill-fated CL Financial – becoming insolvent, posing a downside stability risk to the industry but with the upside potential of consolidation in the fragmented sector.

Catastrophe Risk
All the countries profiled in this report are prone to hurricanes, but in spite of an unprecedented amount of natural disasters and insurance liabilities in 2011, the Caribbean had a comparatively steady year in comparison to Asian counterparts such as New Zealand and Japan. Hurricane Irene incurred the largest losses for the Caribbean in 2011 (of up to US$1.1bn) but nevertheless this was not significant enough to activate the Caribbean Catastrophe Risk Insurance Facility (CCRIF). As 2010 was a year with no notable hurricanes affecting the region, this is reflected in published corporate results.
In addition to the threat of liabilities from catastrophe risk and the growing awareness of the benefits of insurance products, the area has seen product innovation in the form of micro-insurance products.

Contents:

Executive Summary
SWOT Analysis
Caribbean Insurance SWOT
Life
Latin America Life Sector Overview
Table: Latin America Life Premiums, 2008-2016 (US$mn)
Caribbean Life Sector Update
Bahamas
Barbados
Dominican Republic
Table: Breakdown Of Life Premiums By Line 8M11 (DOP)
Jamaica
Trinidad And Tobago
Caribbean Life Industry Forecast
Table: Total Life Premiums, Bahamas, 2008-2016
Table: Total Life Premiums, Barbados, 2008-2016
Table: Total Life Premiums, Dominican Republic, 2008-2016
Table: Total Life Premiums, Jamaica, 2008-2016
Table: Total Life Premiums , Trinidad & Tobago,2008-2016
Growth Drivers And Risk Management Projections
Population
Table: Insurance Key Drivers, Demographics, Bahamas, 2008-2016
Table: Insurance Key Drivers, Demographics, Barbados, 2008-2016
Table: Insurance Key Drivers, Demographics, Dominican Republic, 2008-2016
Table: Insurance Key Drivers, Demographics, Jamaica, 2008-2016
Table: Insurance Key Drivers, Demographics, Trinidad & Tobago 2008-2016
Non-Life
Latin American Non-Life Sector Overview
Table: Latin America Non-Life Premiums, 2009-2016
Caribbean Non-Life Sector Update
Bahamas
Dominican Republic
Table: Dominican Republic – Breakdown of Non-Life Premiums By Line 8M11 (DOP)
Jamaica
Trinidad and Tobago
Caribbean Non-Life Industry Forecast
Table: Total Non-Life Premiums, Bahamas, 2008-2016
Table: Total Non-Life Premiums, Barbados , 2008-2016
Table: Total Non-Life Premiums, Dominican Republic, 2008-2016
Table: Total Non-Life Premiums, Jamaicaca. 2008-2016
Table: Total Non-Life Premiums, Trinidad & Tobago, 2008-2016
Growth Drivers And Risk Management Projections
Macroeconomic Outlook
Bahamas
Table: Bahamas Economic Activity, 2008-2015
Barbados
Table: Barbados Economic Activity, 2008-2016
Dominican Republic
Table: Dominican Republic Economic Activity, 2006-2016
Jamaica
Table: Jamaica Economic Activity, 2008-2016
Trinidad and Tobago
Table: Trinidad & Tobago Economic Activity, 2011-2016
Political Stability Outlook
Barbados
Jamaica
Trinidad and Tobago
Epidemiology
Bahamas
Table: Insurance Key Drivers, Disease Adjusted Life Years, Bahamas, 2008-2016
Barbados
Dominican Republic
Table: Insurance Key Drivers, Disease Adjusted Life Years, Dominican Republic 2008-2016
Jamaica
Table: Insurance Key Drivers, Disease Adjusted Life Years, Jamaica 2008-2016
Trinidad and Tobago
Table: Insurance Key Drivers, Disease Adjusted Life Years, Trinidad & Tobago, 2008-2016
Insurance Business Environment Ratings
Table: Bahamas Insurance Business Environment Ratings
Table: Barbados Insurance Business Environment Ratings
Table: Dominican Republic Insurance Business Environment Ratings
Table: Jamaica Insurance Business Environment Ratings
Table: Trinidad & Tobago Insurance Business Environment Ratings
Table: Latin America Insurance Risk/Reward Ratings
Competitive Landscape
Bahamas
Barbados
Dominican Republic
Table: Dominican Republic – Life Insurance
Table: Dominican Republic – Non-Life Insurance
Table: Dominican Republic – Competitive Landscape-Overall
Jamaica
Table: Jamaica – Competitive Landscape
Trinidad and Tobago
Company Profiles
Sagicor Financial Corporation
Guardian Holdings
Mapfre
MetLife ALICO
RSA
BMI Methodology
Insurance Risk/Reward Ratings
Table: Insurance Risk/Reward Indicators And Rationale
Table: Weighting Of Indicators

Companies Mentioned

- Sagicor Financial Corporation
- Guardian Holdings
- Mapfre
- MetLife ALICO
- RSA

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Caribbean Insurance Report 2012

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Report Formats

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Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

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Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Please fax this form to:
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