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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.


Table Of Contents

The Insurance Industry in Suriname, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Industry Outlook
4.1 Regional Comparison
4.2 Industry Indicators
4.2.1 Gross written premium
4.2.2 Claims
4.2.3 Assets and investments
5 Life Insurance Outlook
5.1 Gross Written Premium
5.2 Individual Life Insurance
5.2.1 Gross written premium
5.2.2 Penetration
5.3 Group Life Insurance
5.3.1 Gross written premium
5.3.2 Penetration
6 Non-Life Insurance Outlook
6.1 Gross written premium
6.2 Property Insurance
6.2.1 Gross written premium
6.2.2 Penetration
6.2.3 Claims
6.3 Motor Insurance
6.3.1 Gross written premium
6.3.2 Penetration
6.3.3 Claims
6.4 Liability Insurance
6.4.1 Gross written premium
6.4.2 Penetration
6.4.3 Claims
7 Personal Accident and Health Insurance Outlook
7.1 Personal Accident Insurance
7.1.1 Gross written premium
7.1.2 Penetration
7.1.3 Claims
7.2 Health Insurance
7.2.1 Gross written premium
7.2.2 Penetration
7.2.3 Claims
8 Reinsurance Outlook
8.1 Premium Ceded
9 Distribution Channels
10 Natural Hazards
10.1 Exposure
11 Competitive Landscape
11.1 Company Profiles
11.1.1 Assuria Levensverzekering NV - company overview
11.1.2 Fatum Schadeverzekering NV - company overview
11.1.3 Assuria Schadeverzekering NV - company overview
12 Governance, Risk and Compliance
12.1 Legislation Overview and Historical Evolution
12.2 Latest Changes in Regulation
12.3 Legislation and Market Practice by Type of Insurance
12.3.1 Life Insurance
12.3.2 Property Insurance
12.3.3 Motor Insurance
12.3.4 Liability insurance
12.3.5 Marine, aviation and transit insurance
12.3.6 Personal accident and health insurance
12.4 Compulsory Insurance
12.4.1 Motor third-party liability insurance
12.4.2 National health insurance (State scheme)
12.5 Supervision and Control
12.5.1 International Association of Insurance Supervisors
12.5.2 Caribbean Association of Insurance Regulators
12.5.3 The Insurance Association of the Caribbean
12.5.4 Central Bank of Suriname
12.6 Non-Admitted Insurance Regulations
12.6.1 Overview
12.6.2 Intermediaries
12.6.3 Market practices
12.6.4 Fines and Penalties
12.7 Company Registration and Operations
12.7.1 Type of insurance organization
12.7.2 Establishing a local company
12.7.3 Foreign ownership
12.7.4 Types of license
12.7.5 Capital requirements
12.7.6 Solvency margin
12.7.7 Reserve requirements
12.7.8 Investment regulations
12.7.9 Statutory return requirements
12.7.10 Fee structure
12.8 Taxation
12.8.1 Insurance premium or policy taxation
12.8.2 Withholding taxes on premium paid overseas
12.8.3 Corporate tax
12.8.4 VAT
12.8.5 Captives
12.9 Legal System
12.9.1 Introduction
12.9.2 Access to court
12.9.3 Alternative dispute resolution (ADR)
13 Databook
13.1 Life Insurance
13.1.1 Policies and Premium
13.1.2 Claims and Expenses
13.1.3 Assets and Investments
13.1.4 Individual Life Insurance
13.1.5 Group Life Insurance
13.1.6 Linked vs. Non-Linked Policies
13.2 Non-Life Insurance
13.2.1 Policies and Premium
13.2.2 Claims and Expenses
13.2.3 Assets and Investments
13.2.4 Property Insurance
13.2.5 Motor Insurance
13.2.6 Liability Insurance
13.3 Personal Accident and Health Insurance
13.3.1 Policies and Premium
13.3.2 Claims and Expenses
13.3.3 Assets and Investments
13.3.4 Personal Accident Insurance
13.3.5 Health Insurance
14 Definitions and Methodology
14.1 Definitions
14.2 Methodology
15 About Timetric
15.1 Contact Timetric
15.2 About Timetric
15.3 Timetric's Services
15.4 Disclaimer


List of Tables
Table 1: Surinamese Insurance Industry - Key Facts, 2015
Table 2: Surinamese Government Credit Ratings
Table 3: Surinamese Insurance Industry - Gross Written Premium by Segment (SRD Million), 2011-2015
Table 4: Surinamese Insurance Industry - Gross Written Premium by Segment (SRD Million), 2015-2020
Table 5: Surinamese Insurance Industry - Direct Written Premium per Capita by Segment (SRD), 2011-2015
Table 6: Surinamese Insurance Industry - Direct Written Premium per Capita by Segment (SRD), 2015-2020
Table 7: Surinamese Insurance Industry - Paid Claims by Segment (SRD Million), 2011-2015
Table 8: Surinamese Insurance Industry - Paid Claims by Segment (SRD Million), 2015-2020
Table 9: Surinamese Insurance Industry - Total Assets by Segment (SRD Million), 2011-2015
Table 10: Surinamese Insurance Industry - Total Assets by Segment (SRD Million), 2015-2020
Table 11: Surinamese Insurance Industry - Total Investment Income by Segment (SRD Million), 2011-2015
Table 12: Surinamese Insurance Industry - Total Investment Income by Segment (SRD Million), 2015-2020
Table 13: Surinamese Life Insurance Investment (SRD Million and US$ Million), 2011-2015
Table 14: Surinamese Life Insurance Investment (SRD Million and US$ Million), 2015-2020
Table 15: Surinamese Non-Life Insurance Investment (SRD Million and US$ Million), 2011-2015
Table 16: Surinamese Non-Life Insurance Investment (SRD Million and US$ Million), 2015-2020
Table 17: Surinamese Personal Accident and Health Insurance Investment(SRD Million and US$ Million), 2011-2015
Table 18: Surinamese Personal Accident and Health Insurance Investment (SRD Million and US$ Million), 2015-2020
Table 19: Surinamese Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 20: Surinamese Individual Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 21: Surinamese Individual Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 22: Surinamese Individual Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 23: Surinamese Group Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 24: Surinamese Group Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 25: Surinamese Non-Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 26: Surinamese Non-Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 27: Surinamese Property Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 28: Surinamese Property Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 29: Surinamese Property Insurance - Paid Claims (SRD Million and US$ Million),2011-2015
Table 30: Surinamese Property Insurance - Paid Claims (SRD Million and US$ Million), 2015-2020
Table 31: Surinamese Motor Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 32: Surinamese Motor Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 33: Surinamese Motor Insurance - Paid Claims (SRD Million and US$ Million),2011-2015
Table 34: Surinamese Motor Insurance - Paid Claims (SRD Million and US$ Million), 2015-2020
Table 35: Surinamese Liability Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 36: Surinamese Liability Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 37: Surinamese Liability Insurance - Paid Claims (SRD Million and US$ Million),2011-2015
Table 38: Surinamese Liability Insurance - Paid Claims (SRD Million and US$ Million), 2015-2020
Table 39: Surinamese Personal Accident and Health Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 40: Surinamese Personal Accident and Health Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 41: Surinamese Personal Accident Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
Table 42: Surinamese Personal Accident Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
Table 43: Surinamese Personal Accident Insurance - Paid Claims (SRD Million and US$ Million),2011-2015
Table 44: Surinamese Personal Accident Insurance - Paid Claims (SRD Million and US$ Million), 2015-2020
Table 45: Surinamese Health Insurance - Gross Written Premium (SRD Million and US$), 2011-2015
Table 46: Surinamese Health Insurance - Gross Written Premium (SRD Million and US$), 2015-2020
Table 47: Surinamese Personal Accident Insurance - Paid Claims (SRD Million and US$ Million), 2011-2015
Table 48: Surinamese Health Insurance - Paid Claims (SRD Million and US$), 2015-2020
Table 49: Surinamese Reinsurance - Premium Ceded by Segment (SRD Million), 2011-2015
Table 50: Reinsurance - Premium Ceded by Segment (SRD Million), 2011-2015
Table 51: Surinamese Insurance Industry, Number of Insurers by Type of Operation, 2013
Table 52: Assuria Levensverzekering NV - Key Facts
Table 53: Fatum Schadeverzekering NV - Key Facts
Table 54: Assuria Schadeverzekering NV - Key Facts
Table 55: Suriname - Insurance Regulatory Framework Key Features
Table 56: Suriname - Life Insurance Regulatory Framework
Table 57: Suriname - Property Insurance Regulatory Framework
Table 58: Suriname - Motor Insurance Regulatory Framework
Table 59 Table 60: Suriname - Liability Insurance Regulatory Framework
Table 61: Suriname - Corporate Tax Rates for the Financial Year 2015
Table 62: Surinamese Life Insurance - Policies and Premium, 2011-2015
Table 63: Surinamese Life Insurance - Policies and Premium, 2015-2020
Table 64: Surinamese Life Insurance - Claims and Expenses, 2011-2015
Table 65: Surinamese Life Insurance - Claims and Expenses, 2015-2020
Table 66: Surinamese Life Insurance - Assets and Investments, 2011-2015
Table 67: Surinamese Life Insurance - Assets and Investments, 2015-2020
Table 68: Surinamese Life Insurance - Individual Life Insurance, 2011-2015
Table 69: Surinamese Life Insurance - Individual Life Insurance, 2015-2020
Table 70: Surinamese Life Insurance - Group Life Insurance, 2011-2015
Table 71: Surinamese Life Insurance - Group Life Insurance, 2015-2020
Table 72: Surinamese Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
Table 73: Surinamese Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
Table 74: Surinamese Non-Life Insurance - Policies and Premium, 2011-2015
Table 75: Surinamese Non-Life Insurance - Policies and Premium, 2015-2020
Table 76: Surinamese Non-Life Insurance - Claims and Expenses, 2011-2015
Table 77: Surinamese Non-Life Insurance - Claims and Expenses, 2015-2020
Table 78: Surinamese Non-Life Insurance - Assets and Investments, 2011-2015
Table 79: Surinamese Non-Life Insurance - Assets and Investments, 2015-2020
Table 80: Surinamese Non-Life Insurance - Property Insurance, 2011-2015
Table 81: Surinamese Non-Life Insurance - Property Insurance, 2015-2020
Table 82: Surinamese Non-Life Insurance - Motor Insurance, 2011-2015
Table 83: Surinamese Non-Life Insurance - Motor Insurance, 2015-2020
Table 84: Surinamese Non-Life Insurance - Liability Insurance, 2011-2015
Table 85: Surinamese Non-Life Insurance - Liability Insurance, 2015-2020
Table 86: Surinamese Personal Accident and Health Insurance - Policies and Premium, 2011-2015
Table 87: Surinamese Personal Accident and Health Insurance - Policies and Premium, 2015-2020
Table 88: Surinamese Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 89: Surinamese Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 90: Surinamese Personal Accident and Health Insurance - Assets and Investments, 2011-2015
Table 91: Surinamese Personal Accident and Health Insurance - Assets and Investments, 2015-2020
Table 92: Surinamese Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 93: Surinamese Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 94: Surinamese Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 95: Surinamese Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 96: Insurance Industry Definitions


List of Figures
Figure 1: Surinamese Real GDP (SRD Billion), 2011-2020
Figure 2: SRD-US$ Exchange Rate, 2011-2020
Figure 3: Surinamese Consumer Price Inflation (%),2011-2020
Figure 4: Surinamese Unemployment Rate, 2011-2020
Figure 5: Surinamese Population by Age Group, 1991-2025
Figure 6: Surinamese Life Insurance Penetration - Regional Comparison (%), 2015
Figure 7: Surinamese Non-Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Surinamese Personal Accident and Health Insurance Penetration - Regional Comparison (%), 2015
Figure 9: Surinamese Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 10: Surinamese Insurance Industry - Gross Written Premium by Segment, 2011-2020
Figure 11: Surinamese Insurance Industry - Direct Written Premium per Capita by Segment (SRD), 2011-2020
Figure 12: Surinamese Insurance Industry - Paid Claims by Segment (SRD Million), 2011-2020
Figure 13: Surinamese Insurance Industry - Total Assets by Segment (SRD Billion), 2011-2020
Figure 14: Surinamese Insurance Industry - Total Investment Income by Segment (SRD Million), 2011-2020
Figure 15: Surinamese Life Insurance Investment (SRD Million), 2011-2020
Figure 16: Surinamese Non-Life Insurance Investment (SRD Million), 2011-2020
Figure 17: Surinamese Personal Accident and Health Insurance Investment (SRD Million), 2011-2020
Figure 18: Surinamese Life Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 19: Surinamese Life Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 20: Surinamese Individual Life Insurance - Penetration (%), 2011-2015
Figure 21: Surinamese Individual Life Insurance - Penetration (%), 2015-2020
Figure 22: Surinamese Group Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 23: Surinamese Individual Life Insurance - Penetration (%), 2011-2015
Figure 24: Surinamese Individual Life Insurance - Penetration (%), 2015-2020
Figure 25: Surinamese Non-Life Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 26: Surinamese Property Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 27: Surinamese Property Insurance - Penetration (%), 2011-2015
Figure 28: Surinamese Property Insurance - Penetration (%), 2015-2020
Figure 29: Surinamese Property Insurance - Paid Claims (SRD Million), 2011-2020
Figure 30: Surinamese Motor Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 31: Surinamese Motor Insurance - Penetration (%), 2011-2015
Figure 32: Surinamese Motor Insurance - Penetration (%), 2015-2020
Figure 33: Surinamese Motor Insurance - Paid Claims (SRD Million), 2011-2020
Figure 34: Surinamese Liability Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 35: Surinamese Liability Insurance - Penetration (%), 2011-2015
Figure 36: Surinamese Liability Insurance - Penetration (%), 2015-2020
Figure 37: Surinamese Liability Insurance - Paid Claims (SRD Million), 2011-2020
Figure 38: Surinamese Personal Accident and Health Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 39: Surinamese Personal Accident Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 40: Surinamese Personal Accident Insurance - Penetration (%), 2011-2015
Figure 41: Surinamese Personal Accident Insurance - Penetration (%), 2015-2020
Figure 42: Surinamese Personal Accident Insurance - Paid Claims (SRD Million), 2011-2020
Figure 43: Surinamese Health Insurance - Gross Written Premium (SRD Million), 2011-2020
Figure 44: Surinamese Health Insurance - Penetration (%), 2011-2015
Figure 45: Surinamese Health Insurance - Penetration (%), 2015-2020
Figure 46: Surinamese Health Insurance - Paid Claims (SRD Million), 2011-2020
Figure 47: Reinsurance - Premium Ceded by Segment (SRD Million), 2011-2020
Figure 48: Surinamese Life Insurance - Percentage of Reinsurance Ceded (%), 2011-2020
Figure 49: Surinamese Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2011-2020
Figure 50: Surinamese Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2011-2020
Figure 51: Suriname - Insurance Supervision and Control at Various Levels
Figure 52: Suriname - Insurance Regulatory Frameworks for Company Registration and Operation

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