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Trinidad and Tobago Insurance Report Q3 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 46 pages

Includes 3 FREE quarterly updates

BMI View: Trinidad & Tobago is one of the more developed insurance markets in the Caribbean region,with high penetration and density levels a reflection of the country's relatively high income levels andstandards of living. At USD360 per capita, life insurance gross premiums are nearly three times higherthan those of Jamaica, for example, and this relatively high level of maturity is likely a constraint in termsof future expansion. While we expect both life and non-life premiums to record positive growth over theforecast period, this will be constrained by economic headwinds, including falling energy revenues, furthercontraction in GDP in 2016 and sluggish consumer spending.Meanwhile, the weakness of the Trinidadian dollar will further dent revenues in USD terms. Given theseconstraints, we see relatively few opportunities for investors or new entrants to the sector over the next fewyears. The situation is compounded by a high level of consolidation, particularly in the life segment whereGuardian Life accounts for nearly half of all underwriting.

Table Of Contents

Trinidad and Tobago Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Trinidad and Tobago 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Trinidad and Tobago 2013-2020) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Trinidad and Tobago 2013-2020) 15
Table: Non-Life Insurance Claims (Trinidad and Tobago 2009-2013) 15
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums by Product Line (Trinidad and Tobago 2013-2020) 22
Insurance Risk/Reward Index 23
Latin America Insurance Risk/Reward Index 23
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q316 24
Market Overview 25
Life Market Overview 25
The Product Offering 25
The Competitive Landscape 26
Table: Life Market Share (% Of Gross Premiums), 2008-2013 27
Non- Life Market Overview 28
The Product Offering 28
Table: Non-Life Market Share (% Of Gross Premiums), 2008-2013 29
Company Profile 31
Guardian Group 31
PALIG 34
Sagicor Financial 37
Methodology 40
Industry Forecast Methodology 40
Risk/Reward Index Methodology 43
Table: Indicators 45
Table: Weighting of Indicators 46

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