BMI View: We have a positive long-term outlook for both major insurance segments in the Bahamas. Although both markets offer promising investment prospects as indicated by their growth rates and levels of insurance density and penetration, the non-life market in particular is subject to several challenges. Most notably, the country's geographical location makes it especially vulnerable to hurricanes, which pose an ongoing and important threat to profits. Most recently, Hurricanes Irma and Harvey caused significant insured losses, which will likely translate to considerable claims. We note that there is relatively little room for expansion within the property sub-segment and instead foresee considerable growth potential in the motor vehicle sub-segment.