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The Insurance Industry in Suriname, Key Trends and Opportunities to 2020

The Insurance Industry in Suriname, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Insurance Industry in Suriname, Key Trends and Opportunities to 2020' report provides a detailed analysis of Surinamese insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (2015–2020).

The report also gives a comprehensive overview of the Surinamese economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes the impact of natural hazards on the insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.

Summary

Timetric’s 'The Insurance Industry in Suriname, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Surinamese insurance industry, including:

  • An overview of the Surinamese insurance industry
  • The Surinamese insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Surinamese economy and demographics
  • The detailed competitive landscape in the Surinamese insurance industry
  • Details of regulatory policy applicable to the Surinamese insurance industry
  • An analysis of natural hazards in the Surinamese insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Suriname:
  • It provides historical values for the Surinamese insurance industry for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key segments in the Surinamese insurance industry, with market forecasts to 2020.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It profiles the top insurance companies in Suriname, and outlines the key regulations affecting them.
  • It covers the economy and demographics structure of Suriname.
  • It analyzes the impact of natural hazards in the Surinamese insurance industry.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Surinamese insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Surinamese insurance industry.
  • Assess the competitive dynamics in the Surinamese insurance industry.
  • Identify growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Surinamese insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Surinamese insurance industry is developing. Thirteen insurance companies were operational as of 2013, of which four were life insurers, seven were general insurers and two were funeral insurers.
  • The Insurance Act was introduced to the parliament in 2014 but is yet to be passed.
  • The industry grew from at a review-period CAGR of 18.5%. Growth was driven by the personal accident and health segment which recorded a review-period CAGR of 28.7% and accounted for 43.3% of the industry's gross written premium in 2015.
  • The motor insurance category constituted 44.4% of the total non-life segment’s industry contribution in 2015.
  • Despite the increase in the premium amount, the total percentage of reinsurance ceded declined in all three segments, indicating that insurers were retaining a higher percentage of risk.


  • Key Facts and Highlights
    • Table Surinamese Insurance Industry - Key Facts, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Surinamese Government Credit Ratings
  • Industry Outlook
    • Regional Comparison
    • Industry Indicators
      • Gross written premium
        • Table Surinamese Insurance Industry - Gross Written Premium by Segment (SRD Million), 2011-2015
        • Table Surinamese Insurance Industry - Gross Written Premium by Segment (SRD Million), 2015-2020
        • Table Surinamese Insurance Industry - Direct Written Premium per Capita by Segment (SRD), 2011-2015
        • Table Surinamese Insurance Industry - Direct Written Premium per Capita by Segment (SRD), 2015-2020
      • Claims
        • Table Surinamese Insurance Industry - Paid Claims by Segment (SRD Million), 2011-2015
        • Table Surinamese Insurance Industry - Paid Claims by Segment (SRD Million), 2015-2020
      • Assets and investments
        • Table Surinamese Insurance Industry - Total Assets by Segment (SRD Million), 2011-2015
        • Table Surinamese Insurance Industry - Total Assets by Segment (SRD Million), 2015-2020
        • Table Surinamese Insurance Industry - Total Investment Income by Segment (SRD Million), 2011-2015
        • Table Surinamese Insurance Industry - Total Investment Income by Segment (SRD Million), 2015-2020
        • Table Surinamese Life Insurance Investment (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Life Insurance Investment (SRD Million and US$ Million), 2015-2020
        • Table Surinamese Non-Life Insurance Investment (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Non-Life Insurance Investment (SRD Million and US$ Million), 2015-2020
        • Table Surinamese Personal Accident and Health Insurance Investment(SRD Million and US$ Million), 2011-2015
        • Table Surinamese Personal Accident and Health Insurance Investment (SRD Million and US$ Million), 2015-2020
  • Life Insurance Outlook
    • Gross Written Premium
      • Table Surinamese Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
      • Table Surinamese Individual Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
    • Individual Life Insurance
      • Gross written premium
        • Table Surinamese Individual Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Individual Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
      • Penetration
    • Group Life Insurance
      • Gross written premium
        • Table Surinamese Group Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Group Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
      • Penetration
  • Non-Life Insurance Outlook
    • Gross written premium
      • Table Surinamese Non-Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
      • Table Surinamese Non-Life Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
    • Property Insurance
      • Gross written premium
        • Table Surinamese Property Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Property Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Surinamese Property Insurance - Paid Claims (SRD Million and US$ Million),2011-2015
        • Table Surinamese Property Insurance - Paid Claims (SRD Million and US$ Million), 2015-2020
    • Motor Insurance
      • Gross written premium
        • Table Surinamese Motor Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Motor Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Surinamese Motor Insurance - Paid Claims (SRD Million and US$ Million),2011-2015
        • Table Surinamese Motor Insurance - Paid Claims (SRD Million and US$ Million), 2015-2020
    • Liability Insurance
      • Gross written premium
        • Table Surinamese Liability Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Liability Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Surinamese Liability Insurance - Paid Claims (SRD Million and US$ Million),2011-2015
        • Table Surinamese Liability Insurance - Paid Claims (SRD Million and US$ Million), 2015-2020
  • Personal Accident and Health Insurance Outlook
    • Table Surinamese Personal Accident and Health Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
    • Table Surinamese Personal Accident and Health Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
    • Personal Accident Insurance
      • Gross written premium
        • Table Surinamese Personal Accident Insurance - Gross Written Premium (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Personal Accident Insurance - Gross Written Premium (SRD Million and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Surinamese Personal Accident Insurance - Paid Claims (SRD Million and US$ Million),2011-2015
        • Table Surinamese Personal Accident Insurance - Paid Claims (SRD Million and US$ Million), 2015-2020
    • Health Insurance
      • Gross written premium
        • Table Surinamese Health Insurance - Gross Written Premium (SRD Million and US$), 2011-2015
        • Table Surinamese Health Insurance - Gross Written Premium (SRD Million and US$), 2015-2020
      • Penetration
      • Claims
        • Table Surinamese Personal Accident Insurance - Paid Claims (SRD Million and US$ Million), 2011-2015
        • Table Surinamese Health Insurance - Paid Claims (SRD Million and US$), 2015-2020
  • Reinsurance Outlook
    • Premium Ceded
      • Table Surinamese Reinsurance - Premium Ceded by Segment (SRD Million), 2011-2015
      • Table Reinsurance - Premium Ceded by Segment (SRD Million), 2011-2015
  • Distribution Channels
  • Natural Hazards
    • Exposure
  • Competitive Landscape
    • Table Surinamese Insurance Industry, Number of Insurers by Type of Operation, 2013
    • Company Profiles
      • Assuria Levensverzekering NV - company overview
        • Table Assuria Levensverzekering NV - Key Facts
      • Fatum Schadeverzekering NV - company overview
        • Table Fatum Schadeverzekering NV - Key Facts
      • Assuria Schadeverzekering NV - company overview
        • Table Assuria Schadeverzekering NV - Key Facts
  • Governance, Risk and Compliance
    • Table Suriname - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life Insurance
        • Table Suriname - Life Insurance Regulatory Framework
      • Property Insurance
        • Table Suriname - Property Insurance Regulatory Framework
      • Motor Insurance
        • Table Suriname - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Suriname - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • National health insurance (State scheme)
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Caribbean Association of Insurance Regulators
      • The Insurance Association of the Caribbean
      • Central Bank of Suriname
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Suriname - Corporate Tax Rates for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Life Insurance
      • Policies and Premium
        • Table Surinamese Life Insurance - Policies and Premium, 2011-2015
        • Table Surinamese Life Insurance - Policies and Premium, 2015-2020
      • Claims and Expenses
        • Table Surinamese Life Insurance - Claims and Expenses, 2011-2015
        • Table Surinamese Life Insurance - Claims and Expenses, 2015-2020
      • Assets and Investments
        • Table Surinamese Life Insurance - Assets and Investments, 2011-2015
        • Table Surinamese Life Insurance - Assets and Investments, 2015-2020
      • Individual Life Insurance
        • Table Surinamese Life Insurance - Individual Life Insurance, 2011-2015
        • Table Surinamese Life Insurance - Individual Life Insurance, 2015-2020
      • Group Life Insurance
        • Table Surinamese Life Insurance - Group Life Insurance, 2011-2015
        • Table Surinamese Life Insurance - Group Life Insurance, 2015-2020
      • Linked vs Non-Linked Policies
        • Table Surinamese Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
        • Table Surinamese Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
    • Non-Life Insurance
      • Policies and Premium
        • Table Surinamese Non-Life Insurance - Policies and Premium, 2011-2015
        • Table Surinamese Non-Life Insurance - Policies and Premium, 2015-2020
      • Claims and Expenses
        • Table Surinamese Non-Life Insurance - Claims and Expenses, 2011-2015
        • Table Surinamese Non-Life Insurance - Claims and Expenses, 2015-2020
      • Assets and Investments
        • Table Surinamese Non-Life Insurance - Assets and Investments, 2011-2015
        • Table Surinamese Non-Life Insurance - Assets and Investments, 2015-2020
      • Property Insurance
        • Table Surinamese Non-Life Insurance - Property Insurance, 2011-2015
        • Table Surinamese Non-Life Insurance - Property Insurance, 2015-2020
      • Motor Insurance
        • Table Surinamese Non-Life Insurance - Motor Insurance, 2011-2015
        • Table Surinamese Non-Life Insurance - Motor Insurance, 2015-2020
      • Liability Insurance
        • Table Surinamese Non-Life Insurance - Liability Insurance, 2011-2015
        • Table Surinamese Non-Life Insurance - Liability Insurance, 2015-2020
    • Personal Accident and Health Insurance
      • Policies and Premium
        • Table Surinamese Personal Accident and Health Insurance - Policies and Premium, 2011-2015
        • Table Surinamese Personal Accident and Health Insurance - Policies and Premium, 2015-2020
      • Claims and Expenses
        • Table Surinamese Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
        • Table Surinamese Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
      • Assets and Investments
        • Table Surinamese Personal Accident and Health Insurance - Assets and Investments, 2011-2015
        • Table Surinamese Personal Accident and Health Insurance - Assets and Investments, 2015-2020
      • Personal Accident Insurance
        • Table Surinamese Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
        • Table Surinamese Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
      • Health Insurance
        • Table Surinamese Personal Accident and Health Insurance - Health Insurance, 2011-2015
        • Table Surinamese Personal Accident and Health Insurance - Health Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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