| Copyright: | Business Wire | | Source: | Business Wire | | Wordcount: | 668 |
Business Editors
DUBLIN, Ireland--(BUSINESS WIRE)--May 9, 2008--Research and Markets (http://www.researchandmarkets.com/reports/c91287) has announced the addition of “Caribbean Insurance Report 2008” to their offering.
The Caribbean Insurance Report provides independent forecasts and competitive intelligence on the Caribbean’s insurance industry.
The five countries profiled in this report are quite different from each other, as the table below suggests. Jamaica and the Dominican Republic are similar to lower-income countries in other parts of the world that have a history of economic, financial and political instability. The entire insurance sector is underdeveloped, and (especially in the Dominican Republic) people are reluctant or unable to save for the future through life insurance. At the other extreme, Barbados has already developed as a substantial centre for offshore captive insurance, although life insurance is not especially popular.
Barbados may face competition from The Bahamas, which is already one of the world’s most important offshore banking, private banking and trust centres (with over US$350bn in banking assets at the end of 2006) and where the authorities are keen to promote offshore insurance. Finally, Trinidad & Tobago is something of an anomaly. With a booming energy sector, the country is home to the largest economy and (after Jamaica) the largest population in the British West Indies. Life insurance density (i.e. premiums per capita) is high; however, non-life penetration (i.e. premiums as a percentage of GDP) is low.
Nevertheless, together, these five countries provide insights about the insurance sector of the Caribbean. There is much that is encouraging. Relative to medium-income developing countries in other parts of the world, it is clear that the general standards of regulation are high and, with some qualifications, the levels of country-specific risk low. Leading multi-national insurers have, for the most part, regarded the Caribbean as a region that they can afford to ignore. However, three groups - Guardian Holdings, CLICO/Colfire and Sagicor have filled the gap by building businesses across the region. The entire region has certain other advantages: proximity to and/or currency linkages with the US; typically lower costs for business than the US; the ability to speak the languages that matter for the US (i.e. English and Spanish).
Contents:
The Sector At A Glance
Table: The Caribbean Markets At A Glance - Estimated Gross Written
Premiums, 2007 (US$mn)
Key Insights Into The Insurance Sector Of The Caribbean
SWOT Analysis
Caribbean Insurance Industry SWOT
Key Features Of This Report
Projections And Forecasts
Table: Bahamas - Premiums, 2005-2012
Table Barbados - Premiums, 2005-2012
Table: Dominican Republic - Premiums, 2005-2012
Table: Jamaica - Premiums, 2005-2012
Table: Trinidad & Tobago - Premiums, 2005-2012
Projections And Drivers Of Growth
Data And Growth Drivers By Country
Bahamas
Table: Bahamas - Growth Drivers, 2005-2012
Barbados
Table: Barbados - Growth Drivers, 2005-2012
Dominican Republic
Table Dominican Republic - Growth Drivers, 2005-2012
Jamaica
Table: Jamaica - Growth Drivers, 2005-2012
Trinidad & Tobago
Table: Trinidad & Tobago - Growth Drivers, 2005-2012
Country Outlooks
Bahamas
Barbados
Table: Barbados - Macroeconomic Data And Forecasts
Dominican Republic
Jamaica
Table: Jamaica - Economic Activity
Trinidad & Tobago
Table: Trinidad & Tobago - Economic Activity
Insurance Business Environment Ratings
Table: Bahamas - Insurance Business Environment Indicators
Table: Barbados - Insurance Business Environment Indicators
Table: Dominican Republic - Insurance Business Environment Indicators
Table: Jamaica - Insurance Business Environment Indicators
Table: Trinidad & Tobago - Insurance Business Environment Indicators
Table: Latin America And The Caribbean - Insurance Business
Environment Rankings
Regional Context
Table: Non-Life Premiums In A Regional Context, 2007
Table: Life Premiums In A regional Context,2007
Table: Comparison Of Major Lines As A % Of Non-Life Premiums, 2006
Analysis Of Competitive Conditions
Caribbean - Non-Life And Life Segments
Table: Estimated Gross Written Premiums, 2007 (US$mn)
Table: Presence Of Cross-Border Insurers - Non-Life
Table: Presence Of Cross-Border Insurers - Life
Methodology
Basis Of Projections
Insurance Business Environment Rating
Table: Insurance Business Environment Indicators And Rationale
Table: Weighting Of Indicators
For more information visit http://www.researchandmarkets.com/reports/c91287
This is a news service of Thomson Business Intelligence Service ©2006. This content is for your personal use only, subject to Terms and Conditions. No redistribution allowed.
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