New Financial Services research report from Timetric is now available from Fast Market Research

Boston, MA -- (SBWire) -- 01/28/2013 --The Trinidad and Tobagonian insurance industry is one of the leading insurance industries in the Caribbean region, in terms of penetration of GDP. Both domestic and foreign insurance companies have a presence in the country's industry. The liberalization policy of Trinidad and Tobago with fewer regulations means that the country is open to foreign insurance companies. The rise in construction activities, growth in automobile sales and a technologically advanced healthcare service supported the growth of Trinidad and Tobagonian insurance industry over the review period. Annuity and unit-linked insurance products accounted for a major share of the Trinidad and Tobago life insurance segment and also played a major role in driving growth in the segment during the review period. The Trinidad and Tobago population is more inclined towards life insurance products which provide wealth management services. The growth of the country's non-life insurance segment was primarily supported by growth in property and motor insurance, the two largest categories in the segment.

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Key Highlights

- The Trinidad and Tobagonian insurance industry is one of the leading insurance industries in the Caribbean region, in terms of penetration of GDP
- Both domestic and foreign insurance companies have a presence in the country's industry
- The liberalization policy of Trinidad and Tobago with fewer regulations means that the country is open to foreign insurance companies
- The rise in construction activities, growth in automobile sales and a technologically advanced healthcare service supported the growth of Trinidad and Tobagonian insurance industry over the review period
- Annuity and unit-linked insurance products accounted for a major share of the Trinidad and Tobago life insurance segment and also played a major role in driving growth in the segment during the review period
- The Trinidad and Tobago population is more inclined towards life insurance products which provide wealth management services.
- The growth of the country's non-life insurance segment was primarily supported by growth in property and motor insurance, the two largest categories in the segment

Scope

This report provides a comprehensive analysis of the insurance industry in Trinidad and Tobago:

- It provides historical values for the Trinidad and Tobagonian insurance industry for the report's 2007-2011 review period and forecast figures for the 2011-2016 forecast period
- It offers a detailed analysis of the key segments and sub-segments in the Trinidad and Tobagonian insurance industry, along with forecasts until 2016
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions

Companies Mentioned in this Report: The Beacon Insurance Company Limited, British American Insurance Company Limited, Maritime General Insurance Company Limited, TATIL Life Assurance Limited, Bankers Insurance Ltd, COLFIRE, Furness Anchorage General Insurance Limited, Colonial Life Insurance Company, Cuna Caribbean Insurance Society Limited, Guardian Life of the Caribbean Limited

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