Puerto Rico

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Puerto Rico Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Puerto Rico includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

Key Benefits

• Superior market insights
• Crucial compliance information
• Risk assessment and profitability

Country Information

Puerto Rico's prolonged economic recession has resulted in reduced sums insured, lower sales turnover and wage rolls, with reduced lending for business and personal expenditure combining to shrink the exposure base. Premiums since 2017 have essentially grown only because of price increases in certain classes.

English and Spanish are the official languages, but Spanish is more widely spoken in social and business circles. It has been estimated that less than 15% of Puerto Ricans speak English as their first language. The dominant religion is Christianity, with an estimated 96.7% of Puerto Ricans in 2014 according to the Pew Research Centre.