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 Grenada 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 Grenada includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Insurance Penetration (%)
Grenada and its largely uninhabited outlying territories are the most southerly of the Windward Islands. Like its Eastern Carribean partner islands, Granada’s economy relies principally on a combination of tourism and one or a few main crops such as nutmeg. Since the hurricanes of 2017, both these sources of national income have reportedly grown with stable economic factors and benign weather patterns.
Cyber exposures, currently being addressed in the banking sector, are likely to become a matter of concern for the supervisor. The issue already has the involvement of the local police and the Financial Intelligence Unit with support from the World Bank.