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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Puerto Rican non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Puerto Rico's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Puerto Rico non-life (P&C) market as well as trends by line of business. Axco analysts also report on Puerto Rico'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 Puerto Rico's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Puerto Rico, 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 Puerto Rico, 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 Puerto Rico with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Non-life insurance in Puerto Rico is written by a combination of authorised domestic property and casualty insurers, authorised foreign insurers and eligible surplus lines carriers.
Penetration in the non-life market in Puerto Rico is about half of that in the rest of the US, although it compares favourably with Caribbean neighbours, which have a similar catastrophe exposure. The leading non-life insurers ....
This is a brief extract of information; more updated information may be available in the latest published report.