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Saint Vincent and the Grenadines

St Vincent And The Grenadines

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Axco’s team of experienced research analysts collect essential regulatory and tax information for Saint Vincent and the Grenadines

Information is verified through our relationships with local regulatory bodies and key insurance market experts from Saint Vincent and the Grenadines and regularly updated to reflect the constantly changing environment

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Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
Latest GWP
Insurance Penetration (%)
GMT -4
Kingstown
XCD
0.111 mn
(0.1)%
1.4
33.19
2.97

 

St Vincent and the Grenadines, which include the islands of Bequia, Canouan, Mustique, Mayreau and Union are located in the southeast Windward Islands of the Lesser Antilles. The island of St Vincent is volcanic in origin. It is traversed from north to south by a forested range that rises to a maximum elevation in La Soufriere, rising to 1,234 m, an active volcano located in the northern part of the island, which has erupted violently in 1812, 1902, 1971, 1979 and most recently December 2020

Both the life and non-life markets are modest in size in terms of premium income. Estimated overall non-life income in 2018 was XDC 89.60. Property (mainly homeowners' and commercial) and motor are the major non-life classes.

Like its Eastern Caribbean partners, St Vincent has at least one domestic non-life insurance company. The litigation climate is uneven across the Eastern Caribbean and St Vincent is felt to be one of the more active countries in this regard.

 

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