The Bahamas is ranked fourth amongst the leading offshore financial centers (OFC) in the world. According to the IMF, the Bahamian financial sector accounted for 12% of total foreign bank assets held at global offshore financial centers at the end of March 2012. The large financial sector has benefited the insurance industry in the country, which is well-developed with a high penetration rate of 8.5% in 2012. The industry is very competitive, with 24 domestic (including both-life and non-life insurers) and 15 foreign insurers (including captive insurers). The Insurance Commission of the Bahamas (ICB) is the regulator of the industry. The Bahamian economy, which is highly dependent on financial and tourism sectors, was impacted by the global financial crisis, leading to a stagnation of growth for the insurance industry.

1. The Insurance Industry in the Bahamas, Key Trends and Opportunities to 2017
Synopsis
The report provides in depth market analysis, information and insights into the insurance industry in the
Bahamas, including:
The Bahamian insurance industry’s growth prospects by insurance segments and categories The
competitive landscape in the Bahamian insurance industry The current trends and drivers of the Bahamas
insurance industry The challenges facing the Bahamas insurance industry The regulatory framework of the
Bahamas insurance industry
Executive summary
The Bahamas is ranked fourth amongst the leading offshore financial centers (OFC) in the world. According
to the IMF, the Bahamian financial sector accounted for 12% of total foreign bank assets held at global
offshore financial centers at the end of March 2012. The large financial sector has benefited the insurance
industry in the country, which is well-developed with a high penetration rate of 8.5% in 2012. The industry is
very competitive, with 24 domestic (including both-life and non-life insurers) and 15 foreign insurers
(including captive insurers). The Insurance Commission of the Bahamas (ICB) is the regulator of the industry.
The Bahamian economy, which is highly dependent on financial and tourism sectors, was impacted by the
global financial crisis, leading to a stagnation of growth for the insurance industry.
Scope
This report provides a comprehensive analysis of the insurance industry in the Bahamas: It provides
historical values for the Bahamian insurance industry for the report’s 2008–2012 review period
and forecast figures for the 2012–2017 forecast period It offers a detailed analysis of the key segments
and categories in the Bahamian insurance industry, along with industry forecasts until 2017 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 It profiles the top insurance companies in
Bahamas and outlines the key regulations affecting them
Reasons to buy
Make strategic business decisions using in depth historic and forecast industry data related to the Bahamian
insurance industry and each segment within it Assess the competitive dynamics in the Bahamian insurance
industry Understand the demand-side dynamics, key market trends and growth opportunities within the
Bahamian insurance industry Identify the growth opportunities and market dynamics within key segments
Gain insights into key regulations governing the Bahamian insurance industry and its impact on companies
and the industry's future
Key highlights
The large financial sector has benefited the insurance industry in the country, which is well-developed with a
high penetration rate of 8.5% in 2012 In 2009, a new regulatory body, the Insurance Commission of the
Bahamas (ICB) was established and new legislation was enacted to increase supervision of the industry The
Bahamian economy, which is highly dependent on financial and tourism sectors, was impacted by the global
financial crisis, leading to a stagnation of growth for the insurance industry The Bahamian insurance industry
The Insurance Industry in the Bahamas, Key Trends and Opportunities to 2017

2. is dominated by non-life insurance The industry is witnessing an increase in competition as companies offer
huge discounts on premiums
table Of Contents
1 Executive Summary
2 Introduction
2.1 What Is This Report About?
2.2 Definitions
2.3 Methodology
3 Bahamian Insurance Industry Overview
3.1 Bahamian Insurance Industry
3.2 Key Industry Trends And Drivers
3.3 Challenges
3.4 Regulation
4 Industry Segmentation
4.1 Life Insurance
4.2 Non-life Insurance
4.2.1 Property Insurance
4.2.2 Motor Insurance
4.2.3 Liability Insurance
4.2.4 Marine, Aviation And Transit Insurance
4.3 Personal Accident And Health Insurance
4.4 Reinsurance
5 Competitive Landscape
5.1 Leading Companies
5.1.1 The Bahamas First General Insurance Company – Company Overview
5.1.2 The Insurance Company Of The Bahamas Limited (icb) – Company Overview
5.1.3 Colina Insurance Limited – Company Overview
5.1.4 Baf Financial & Insurance (bahamas) Ltd – Company Overview
6 Macroeconomic Indicators
6.1 Household Final Consumption Expenditure (us$ Billion)
The Insurance Industry in the Bahamas, Key Trends and Opportunities to 2017

3. 6.2 Air Passengers
6.3 Gdp At Current Prices (us$ Billion)
6.4 Construction Output (us$ Million)
6.5 Inflation Rate (%)
6.6 Total Population
6.7 Unemployment Rate (%)
6.8 Life Expectancy
6.9 Exports Of Goods And Services (us$ Billion)
7 Appendix
7.1 Methodology
7.2 Contact Us
7.3 About Timetric
7.4 Disclaimer
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The Insurance Industry in the Bahamas, Key Trends and Opportunities to 2017