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Aruba

Aruba

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 Aruba 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 Aruba includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Aruba can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Market Profiles Insight Compliance Global Statistics Regulatory Alerts Compliance Point Clinical Trials

Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
Latest GWP (USD)
Insurance Penetration (%)

GMT-4
Oranjestad
AWG
0.116 mn
4.05%
1.3
127.43
4.21

Aruba forms part of the island string known as the Windward Islands and lies 16 miles (26 km) off the northern coast of Venezuela. Formerly one of the Netherlands (Dutch) Antilles, it seceded in 1986 and is now a constituent country within the Kingdom of the Netherlands. Axco published market information for Aruba in the Dutch Caribbean Insurance Market Report

The Aruban market is regulated by the insurance supervisor at the central bank. Separate to the supervisory department are teams handling enforcement and anti-money laundering (AML). It is a small and stable market unaffected by hurricane risks which typically affect islands much further north in the Caribbean. The Aruban non-life market (excluding personal accident and healthcare) saw a rise in premium income in 2018 of 13.0% to AWG 71.40mn.

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