US Virgin Islands

Life Report

Product Insurance Market Reports Life Rev US Virgin Islands

Key Highlights

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  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Suriname's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Suriname's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Suriname

The Suriname life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Suriname.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Suriname and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Suriname’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Suriname is available.

Axco’s report describes the regulatory framework that applies to the domestic life insurance sector, including whether non-admitted insurance is permitted in Suriname; as well as the legislation necessary to know regarding Suriname’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Suriname with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Suriname market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Suriname, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Suriname's pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Suriname report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Suriname Life and Benefits Report Extract

Below are brief extracts of information from the Suriname Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Total market premiums for Suriname amounted to SRD 935.70mn (USD 125.39mn) in 2018. Life premiums represented 14.3% of this total with SRD 133.81mn (USD 17.93mn) whilst PA and healthcare represented 47.42% with SRD 443.72mn (USD 59.46mn).

Suriname is one of the smallest countries in South America with a population estimated to be around 580,000 people. There is a large unregulated informal sector where many individuals earn a minimal income ....


The pensions market is not significantly developed in terms of infrastructure, legislative framework and overall dynamics, although in the longer-term there is potential for expansion.

The principal categories of retirement plans are old age pensions offered by the state, retirement benefits provided by self-administered plans ....


According to the latest figures available total healthcare spending represented around 5.16% of GDP in 2015, the highest level over the previous five years. State expenditure formed around two-thirds of this total.

Suriname has experienced an economic decline exacerbated by the global slowdown related to the COVID-19 pandemic, adding to the challenges faced by healthcare sector. Hospitals continue to struggle ....

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