Trinidad & Tobago Insurance Report Q1 2018
BMI View: Trinidad and Tobago offers one of the best developed insurance industries in the Caribbean region, which is a reflection of the country's high income levels and a relatively advanced local economy. Nevertheless, the limited scale of the market has so far restricted activity mainly to indigenous and regional insurance providers, with high barriers to entry limiting the interest of overseas providers. Rising incomes and an expanding retirement-age population present positive long-term trends for insurance usage, particularly in terms of life, health and personal accident insurance. However, the opportunities for insurers will be tempered to an extent by headwinds, including a volatile resource-dependent economy, changes in the tax and interest rate structure, and fluctuation in local currency markets.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook