Market Research Report: Insurance Industry in Dominica, Key Trends and Opportunities to 2017

MarketResearchReports.Biz announces addition of new report “Insurance Industry in Dominica, Key Trends and Opportunities to 2017” to its database

The report provides in depth industry analysis, information and insights into the insurance industry in Dominica, including:

• The Dominican insurance industry’s growth prospects by insurance segments
• The current trends and drivers of the Dominican insurance industry
• The challenges facing the Dominican insurance industry
• The regulatory framework of the Dominican insurance industry

Executive summary

The Dominican insurance industry is very small, both in size and significance. The industry registered positive growth, with gross written premium recording a CAGR of 1.7% during the review period (2008–2012), higher than the GDP growth of 0.6% registered during the same period. Insurers typically cede some revenue to reinsurance providers in order to avoid financial losses in times of stock market collapse, financial crisis or other unforeseen events. Dominican providers, especially life insurance providers, tend to retain a large proportion of their revenues and cede less to reinsurance providers. Such a high retention rate reflects the providers’ in-house expertise and high earnings.

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The industry has had a difficult period due to financial crisis, debt crises in the EU, and massive catastrophe losses in 2011. The global industry lost approximately US$350–380 billion in 2011 due to earthquakes in New Zealand and the tsunami in Japan alone. Those events had little impact on the Dominican industry due to increased bank financing, minimal participation of its financial services industry in the global economy and limited access to international credit. Dominica suffered an economic and financial crisis during 2003–2004.

Scope

This report provides a comprehensive analysis of the insurance industry in Dominica:

• It provides historical values for the Dominican 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 sub-segments in the Dominican insurance industry, along with 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 Dominica and outlines the key regulations affecting them

Key highlights

• The country registered marginal GDP decline at an average of -0.7% for 2009 and 2010 due to the country’s minimal participation in the global economy and limited access to international credit
• The industry has had a difficult period due to financial crisis, debt crises in the EU, and massive catastrophe losses in 2011
• Dominica has one of the smallest populations in the ECCB; it declined from 68,434 in 2007 to 67,675 in 2011, at a CAGR of –0.3%
• The industry is dominated by life insurance. The segment accounted for the largest share of the industry’s gross written premiums in 2012
• Industry activities in the country are supervised by the Superintendent of Insurance under the Ministry of Finance; the government authority responsible for laws relating to the financial regulation and supervision of the insurance industry

To Buy The Copy of This Report Visit: http://www.marketresearchreports.biz/analysis/167874

Reasons to buy

• Make strategic business decisions using in depth historic and forecast industry data related to the Dominican insurance industry and each segment within it
• Understand the demand-side dynamics, key trends and growth opportunities within the Dominican insurance industry
• Assess the competitive dynamics in the Dominican insurance industry
• Identify the growth opportunities and market dynamics within key segments
• Gain insights into key regulations governing the Dominican insurance industry and its impact on companies and the industry's future

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