Bahamian Insurance Industry Poised to Witness Growth Driven by Positive Economic Outlook : Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit During the review period (2011-2014), the insurance industry in the Bahamas grew at an estimated CAGR of 4.7% driven by the recovering US economy. This rapid growth in Bahamian insurance industry will be further boosted by a large number of US-based SMEs entering the market. Ken Research has announced its latest publication on, ‘The Insurance Industry in the Bahamas, Key Trends and Opportunities to 2019’, which provides detailed discussion of Bahamian insurance industry considering all related industrial and economic factors. A detailed overview of the demographics and associated factors are included thereby bringing out the major driving factors in the Bahamian insurance sector. Additionally, a comprehensive outlook of the competition, regulatory framework, distribution channels and natural hazards within the insurance industry of the Bahamas is also included in this research report. The Bahamian insurance industry is currently under the positive economic status supported by its proximity to the US and the Government’s initiatives to boost infrastructure and tourism. The factors which are driving growth in the Bahamian insurance sector include competitive pricing, favorable regulations and the requirement for sophisticated tax compliant wealth management structure. In addition, the presence of restricted predatory competition also allowed capital accumulation which is further being used for upgradation of technology in the sector. As a result, in the Bahamas, the insurance firms tend to have a competitive edge over other financial institutions. The domestic insurance market in Bahama is both diverse and vibrant with ongoing efforts to capitalize on the external market through international captives and insurance. Historical record has also revealed that the Bahamian insurance sector is growing at a CAGR of 4.7% over the past five years. The domestic insurance sector in Bahamas can be further segmented into ‘life’ and ‘non-life’ sectors. Both these sectors are represented and regulated by two primary trade associations including the Bahamas Association of Life and Health Insurers (BALHI) and the Bahamas General Insurance Association (BGIA), respectively. Growth within the non-life segment of the Bahamian insurance market over the past five years was governed by expansion of the tourism industry, which in turn is due to increased spending on high-value construction project such as resorts, casinos and hotels. In addition to domestic insurance sector, the outlook for international insurance in the Bahamas is also positive. This growth can be attributed to the establishment of financial services industry that sought new wealth management tools aligned with the changing market/regulatory conditions worldwide. As of now, a large number of leading international banks have established base in Nassau and are proactively involved in both international life insurance and captives. Overall, it is projected the Bahamian insurance industry will witness fast growth over the coming five years. The Global Insurance Industry The global economy has begun to recover and is projected to strengthen moderately over the next five years. This is expected to support expansion of the worldwide insurance sector. The demand for both life and non-life insurance is expected to increase with emerging economic regions such as Asia-Pacific to remain as key drivers. For instance, the growth of premium insurance is projected to be the strongest in emerging Asia. Some of the prominent trends persist in the global insurance industry are: Constantly evolving regulatory framework Steady upgradation of technology around various insurance segments Sophistication of risk management techniques Better risk monitoring Insurance companies are increasingly using data analytics to enhance profitability Key Topics Covered in the Report: Detailed economic and competitive landscape of the Bahamas Overview of the Bahamian insurance industry Outlook of distribution channels within the Bahamian insurance industry. Detailed profiles of leading players in the Bahamian insurance industry Governance, risk and compliance within the insurance marker of Bahamas To know more on coverage, click on the link below: https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/insurance-industry-bahamas/20499-93.html Related Reports: https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/insurance-industry-kyrgyzstan/20500-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/reinsurance-luxembourg/11273-93.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Tags: Bahamas Insurance Gross Written Premium, Bahamas Insurance Sector Direct Written Premium, Bahamian Individual Life Insurance Market, Bahamian Individual Whole Life Insurance Market, Bahamian Insurance Industry Future Outlook, Bahamian Insurance Industry Market Research Report, Bahamian Insurance Industry Market Size, Bahamian Life Insurance Claims, Bahamian Life Insurance Gross Written Premium, Bahamian Life Insurance Industry, Bahamian Non-Life Insurance Gross Written Premium, Challenges in Bahamian Insurance Industry, Demand for Personal Accident and Health Insurance in Bahamas, Insurance Industry in Bahamas, Motor insurance Gross Written premium in Bahamas, Opportunities in Bahamian Insurance Industry, Penetration in Life Insurance Bahamas, Property Insurance Demand Bahamas, Regulatory Framework Bahamian Insurance Market