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Trinidad and Tobago Insurance Report Q2 2016

Trinidad and Tobago Insurance Report Q2 2016

BMI View: Currency weakness will continue to hurt the dollar value returns for insurers in Trinidad andTobago in the coming years, and will be compounded by weak economic growth over our forecast period(2016-2020). Nevertheless, total gross premiums will increase from USD877.3mn in 2016 to USD982.9mnin 2020. We highlight upside for the health insurance sub-sector in particular given the poor state of thenational health system.

The life insurance sector will expand at a modest pace in the near term, before falling in 2017 as the marketnears saturation levels. Gross life premiums written are already high by regional standards, at USD349.5 percapita, and we expect this will tick upward to USD364.5 in 2016. Over the medium term, the sector willcontinue to outperform its Caribbean peers, with a value of USD565mn by 2020, second only to regionaloffshore behemoth Bermuda. We expect Guardian Life will continue to dominate the market.


BMI Industry View
Table: Headline Insurance Forecasts (Trinidad & Tobago 2013
2020)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Trinidad & Tobago 2013
2020)
NonLife Premiums Forecast
Table: Non
Life Premiums (Trinidad & Tobago 20132020)
Table: Non
Life Insurance Claims (Trinidad & Tobago 20092013)
NonLife SubSector Forecast
Table: Non
Life Insurance Premiums By Product Line (Trinidad & Tobago 20132020)
Insurance Risk/Reward Index
Latin America Insurance Risk/Reward Index
Table: Latin America and the Caribbean Insurance Risk/Reward Index
Q216
Market Overview
Life Market Overview
Table: Life Market Share (% Of Gross Premiums), 2008
2013
Non Life Market Overview
Table: Non
Life Market Share (% Of Gross Premiums), 20082013
Company Profile
Guardian Group
PALIG
Sagicor Financial
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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