Bahamian Insurance Penetration Stood at 7.4% in 2013

Date: 2015-09-16

“• The Bahamian insurance industry grew in terms of gross written premium at a review-period CAGR of 2.8%.

• The non-life segment accounted for a 46.1% of the industry’s gross written premium in 2013. 

• The Bahamian insurance penetration stood at 7.4% in 2013.

• Over the forecast period, stable growth in compulsory insurance classes, as well as infrastructure and tourism development will support the growth of the non-life segment.

• The insurance industry in the Bahamas is regulated by the Insurance Commission of The Bahamas (ICB).

• As on January 1, 2015, the industry had 12 life and 16 general insurers with a combination of both domestic and foreign insurers.”

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