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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Suriname non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Suriname's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Suriname non-life (P&C) market as well as trends by line of business. Axco analysts also report on Suriname'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 Suriname's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Suriname, 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 Suriname, 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 Suriname with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Suriname is one of the smallest countries in South America with a population estimated to be around 600,000 people..
Insurance penetration rates are low and reflect a poor awareness as to the benefits of non-life insurance, combined with the unaffordability of such products. According to Axco Global Statistics the (preliminary) penetration rate for non-life (P&C) premiums was 1.65% in 2020. There is a large informal sector consisting ....
This is a brief extract of information; more updated information may be available in the latest published report.