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 Trinidad and Tobago 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 Trinidad and Tobago 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 (%)
Port of Spain
The dual island nation of Trinidad and Tobago is one of the wealthiest countries in the Caribbean whose economy is significantly reliant on its energy sector based on oil and gas production.
Considered a robust market of notable size in the Caribbean region, the non-life market (including personal accident and health) grew by 10.3% in 2019 to TTD 4.71bn. Premiums for non-life classes (excluding health) in 2019 were TTD 3.89bn.
In 2020 the regulator classified as active in the market 17 non-life companies, seven life insurers and seven composites.
The key matter to dominate the insurance industry in recent years has been the revised law for the insurance market.