Caribbean Insurance Report - Business Monitor International - Industry Reports

Caribbean Insurance Report

Caribbean Insurance Report - Business Monitor International - Industry Reports
Caribbean Insurance Report
Published Nov 21, 2015
167 pages — Published Nov 21, 2015
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BMI View: Currency weakness will continue to plague the dollar terms returns of many of the Caribbean insurance sectors covered in this report. Offshore business in Barbados and the Cayman Islands, amounting to around USD--bn annually, dwarf the domestic sectors in the region. ...Caribbean non-life markets will remain generally underdeveloped by the end of the forecast period to ----, with motor and property lines of non-life cover accounting for over -- of the sector in Jamaica, Barbados, Bahamas and Aruba. The leading regional insurers such as Guardian Group, Sagicor Financial Corporation and PALIG (based, respectively in Trinidad, Barbados and New Orleans) have all made good progress in the execution of their strategies for profitable growth. Among their various strengths, all three clearly enjoy the benefits of scale and access to global capital and reinsurance markets. This is not necessarily true for a lot of the smaller players with regional footprints, some of whom have been short of capital. A number of the smaller regional insurers have established brands and strong positions in particular territories (including the US

...Most domestic markets are small by anything but regional standards. Most insurers are small, with the exception of a few dominant players with multi- national operations. ...Most domestic markets are small by anything but regional standards. Consolidation in a number of fragmented markets will improve efficiency and allow for further sharing of expertise across the region. Expansion in niches by offshore insurers/captives. ...Continued growth in the US and Canada will drive economic fortunes in the region, and particularly boost offshore markets.

...& the Grenadines, St Kitts & Nevis, Grenada, Dominica, Montserrat, the Turks & Caicos Islands and others that are not profiled in this report). However, they are often elements of conglomerates or other corporate groups who do not clearly have a competitive edge in (overwhelmingly non-life) insurance. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Caribbean Insurance Report" Nov 21, 2015. Alacra Store. Mar 20, 2018. <>
Business Monitor International - Industry Reports. (2015). Caribbean Insurance Report Nov 21, 2015. New York, NY: Alacra Store. Retrieved Mar 20, 2018 from <>
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