Trinidad and Tobago Has A Liberal Insurance Industry

Date: 2015-09-21

“• Trinidad and Tobago has a liberal insurance industry, with both regional and foreign insurance companies present

• The insurance industry grew in terms of gross written premium value, recording a CAGR of 4.9% during the review period

• The Trinidad and Tobagonian insurance industry’s penetration stood at 4.3% in 2013

• Property insurance was the largest category, followed by the motor insurance category 

• Oil and natural gas exports account for over 80% of overall exports.

• The decrease in the number of insurers and increase in merger and acquisition (M&A) activity indicates that the industry is likely to consolidate over the forecast period (2013–2018)

• Central Bank of Trinidad and Tobago (CBTT) is the regulator of the insurance industry in Trinidad and Tobago”

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