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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Eastern Caribbean non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in the Eastern Caribbean's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the the Eastern Caribbean non-life (P&C) market as well as trends by line of business. Axco analysts also report on the Eastern Caribbean's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes the Eastern Caribbean's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in the Eastern Caribbean, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in the Eastern Caribbean, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in the Eastern Caribbean with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The insurance sectors of the countries covered by this report mirror those of many other Caribbean islands, in that they comprise a proliferation of general agency operations sharing the market with a relatively small number of largely Caribbean-owned insurance companies. The dominant regulatory issue is the slowly evolving framework for a single regional insurance authority and the concomitant legal cornerstones, such as solvency and capital deposits, which must be set down in order to establish this. This initiative is being supervised by the Eastern Caribbean Central Bank which is the central bank for eight countries ....
This is a brief extract of information; more updated information may be available in the latest published report