1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends

The Insurance Industry in Trinidad and Tobago, Key Trends and Opportunities to 2018

  • February 2015
  • 182 pages
  • Timetric
Report ID: 1081356

Summary

Table of Contents

Search Inside

Synopsis
Trinidad and Tobago is the largest economy in the Caribbean, and is one of the most favored destinations for insurers and foreign investors, especially those from Latin America, due to its high per capita income. The insurance industry grew in terms of gross written premium value, recording a CAGR of 4.9% during the review period, and the industry is likely to be widened when the Insurance Bill 2013 is passed. The bill was tabled in Parliament and is still under consideration.

Strong industrial growth and the government’s social reforms, including the Corporate Social Responsibility Scheme and Community Development Policy, will have a positive impact on the economy. The industry is regulated by the Central Bank of Trinidad and Tobago (CBTT) and is highly consolidated with 23 insurers – including those of both foreign and regional origin.

Summary
The report provides in-depth industry analysis, information and insights into the insurance industry in Trinidad and Tobago, including:

- The Trinidad and Tobagonian insurance industry’s growth prospects by insurance segment and category

- The competitive landscape in the Trinidad and Tobagonian insurance industry

- The current trends and drivers in the Trinidad and Tobagonian insurance industry

- Challenges facing the Trinidad and Tobagonian insurance industry

- The detailed regulatory framework of the Trinidad and Tobagonian insurance industry

Scope
This report provides a comprehensive analysis of the insurance industry in Trinidad and Tobago:

- It provides historical values for the Trinidad and Tobagonian insurance industry for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.

- It offers a detailed analysis of the key segments and categories in the Trinidad and Tobagonian insurance industry, along with forecasts until 2018.

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

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

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

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

- Assess the competitive dynamics in the Trinidad and Tobagonian insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

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

Key Highlights
- Trinidad and Tobago has a liberal insurance industry, with both regional and foreign insurance companies present

- The insurance industry grew in terms of gross written premium value, recording a CAGR of 4.9% during the review period

- The Trinidad and Tobagonian insurance industry’s penetration stood at 4.3% in 2013

- Property insurance was the largest category, followed by the motor insurance category

- Oil and natural gas exports account for over 80% of overall exports.

- The decrease in the number of insurers and increase in merger and acquisition (M&A) activity indicates that the industry is likely to consolidate over the forecast period (2013–2018)

- Central Bank of Trinidad and Tobago (CBTT) is the regulator of the insurance industry in Trinidad and Tobago

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Amrita helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Implementing Cognitive Systems in Insurance Organizations

  • $ 4500
  • Industry report
  • July 2017
  • by IDC

This study is intended to help business and IT executives in insurance organizations (insurers and intermediary organizations) understand what cognitive systems are, why they are relevant, and how they ...

Property Insurance in Emerging Asia

  • $ 3800
  • Industry report
  • May 2017
  • by Timetric

Synopsis Timetric’s 'Insight Report: Property Insurance in Emerging Asia' analyzes the rapidly growing economies in Emerging Asia, and identifies opportunities in the midst of economic growth and low ...

Autonomous Driving – The Opportunities and Obstacles Ahead

  • $ 3800
  • Industry report
  • May 2017
  • by Timetric

Synopsis Timetric’s ’Industry Insight: Autonomous Driving - The Benefits and Hurdles Ahead’ report analyzes the challenges, innovations, market environment and regulatory developments in the automated ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.