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The Insurance Industry in Suriname, Key Trends and Opportunities to 2020

  • September 2016
  • -
  • Timetric
  • -
  • 107 pages

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Synopsis
Timetric’s 'The Insurance Industry in Suriname, Key Trends and Opportunities to 2020' report provides a detailed analysis of Surinamese insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (2015–2020).

The report also gives a comprehensive overview of the Surinamese economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes the impact of natural hazards on the insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.

Summary
Timetric’s 'The Insurance Industry in Suriname, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Surinamese insurance industry, including:

- An overview of the Surinamese insurance industry

- The Surinamese insurance industry's growth prospects by segment and category

- A comprehensive overview of the Surinamese economy and demographics

- The detailed competitive landscape in the Surinamese insurance industry

- Details of regulatory policy applicable to the Surinamese insurance industry

- An analysis of natural hazards in the Surinamese insurance industry

Scope
This report provides a comprehensive analysis of the insurance industry in Suriname:

- It provides historical values for the Surinamese insurance industry for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key segments in the Surinamese insurance industry, with market forecasts to 2020.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

- It profiles the top insurance companies in Suriname, and outlines the key regulations affecting them.

- It covers the economy and demographics structure of Suriname.

- It analyzes the impact of natural hazards in the Surinamese insurance industry.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Surinamese insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Surinamese insurance industry.

- Assess the competitive dynamics in the Surinamese insurance industry.

- Identify growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Surinamese insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The Surinamese insurance industry is developing. Thirteen insurance companies were operational as of 2013, of which four were life insurers, seven were general insurers and two were funeral insurers.

- The Insurance Act was introduced to the parliament in 2014 but is yet to be passed.

- The industry grew from at a review-period CAGR of 18.5%. Growth was driven by the personal accident and health segment which recorded a review-period CAGR of 28.7% and accounted for 43.3% of the industry's gross written premium in 2015.

- The motor insurance category constituted 44.4% of the total non-life segment’s industry contribution in 2015.

- Despite the increase in the premium amount, the total percentage of reinsurance ceded declined in all three segments, indicating that insurers were retaining a higher percentage of risk.


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