1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Opening Balance | 418 | 449 | 485 | 497 | 516 | 543 | 600 | 644 | 693 | 733 | 740 | 765 | 777 | 780 | 738 | 739 | 741 | 761 | 760 | 708 | 711 | 696 | 703 | 646 | 652 | 661 | 670 | 683 | 697 |
Licences Issued | 50 | 52 | 37 | 45 | 47 | 97 | 83 | 75 | 59 | 56 | 46 | 32 | 40 | 25 | 38 | 53 | 39 | 23 | 22 | 39 | 33 | 33 | 33 | 36 | 37 | 33 | 41 | 42 | 21 |
Cancelled | (19) | (16) | (25) | (26) | (20) | (40) | (39) | (26) | (19) | (49) | (21) | (20) | (37) | (67) | (37) | (51) | (19) | (24) | (74) | (36) | (48) | (26) | (90) | (30) | (28) | (24) | (28) | (28) | (6) |
Total Licences | 449 | 485 | 497 | 516 | 543 | 600 | 644 | 693 | 733 | 740 | 765 | 777 | 780 | 738 | 739 | 741 | 761 | 760 | 708 | 711 | 696 | 703 | 646 | 652 | 661 | 670 | 683 | 697 | 712 |
30 Jun 2025 |
31 Dec 2024 |
31 Dec 2023 |
31 Dec 2022 |
31 Dec 2021 |
31 Dec 2020 |
31 Dec 2019 |
31 Dec 2018 |
|
---|---|---|---|---|---|---|---|---|
Class A Locally Incorporated | 11 | 11 | 11 | 9 | 9 | 9 | 9 | 9 |
Class A Approved External |
13 |
13 | 14 | 16 | 16 | 18 | 17 | 18 |
Class A Total | 24 | 24 | 25 | 25 | 25 | 27 | 26 | 27 |
Class B Captives Excluding SPCs | 548 | 531 | 504 | 490 | 486 | 486 | 490 | 525 |
Class B Captives - SPCs Only | 139 | 139 | 154 | 152 | 148 | 138 | 128 | 149 |
Class B Total | 687 | 670 | 658 | 642 | 634 | 624 | 618 | 674 |
B (i) |
471 | 463 | 459 | 453 | 452 | 451 | 457 | 501 |
B (ii) | 13 | 13 | 13 | 14 | 14 | 16 | 18 | 20 |
B (iii) | 203 | 194 | 186 | 175 | 168 | 157 | 143 | 153 |
Class C Total | 16 | 18 | 17 | 21 | 21 | 23 | 23 | 25 |
Class D Total | 9 | 9 | 8 | 7 | 6 | 5 | 5 | 4 |
Total Insurance Companies | 736 | 721 |
708
|
695 | 686 | 679 | 672 | 730 |
Portfolio Insurance Companies | 63 | 61 | 54 | 46 | 43 | 36 | 27 | 19 |
Licensed Insurance Agents | 39 | 38 | 37 | 37 | 36 | 46 | 45 | 46 |
Licensed Insurance Brokers | 22 | 23 | 23 | 23 | 23 | 23 | 23 | 26 |
Licensed Insurance Managers | 22 | 22 | 19 | 20 | 21 | 23 | 24 | 26 |
Property | Motor | Health | Liability | Marine &
Aviation |
Other |
International Business* |
Life | Grand Total | |
---|---|---|---|---|---|---|---|---|---|
Gross Written Premiums | $56,317 | $26,268 | $141,258 | $15,433 | $15,016 | $16,954 | $24,761 | $8,543 | $304,550 |
Assumed Premiums | $1,918 | $263 | $0 | $38,850 | $2,844 | $1,235 | $6,260 | $0 | $51,370 |
Ceded Premiums | ($48,357) | ($16,178) | ($5,752) | ($2,177) | ($728) | ($29) | ($10,865) | ($1,559) | ($85,645) |
Unearned Premium Adjustment | ($3,756) | ($1,534) | ($126) | $260 | ($40) | $3 | ($9,020) | $0 | ($14,214) |
Net Earned Premium | $6,122 | $8,819 | $135,379 | $52,367 | $17,092 | $18,163 | $11,135 | $6,984 | $256,062 |
Net Claims and Adjustment Expenses Paid Life: Policy Holder Benefits & Dividends |
$1,264 | $10,708 | $111,554 | $35,774 | $7,948 | $2,335 | $15,853 |
$0
($2,818) |
$185,436
($2,818) |
Net Change in Reported Outstanding Claims Life: Net Changes to Actuarial Liabilities |
($116) | ($4,902) | $2,611 | $18,864 | $5,954 | ($26,813) | ($76,811) |
$0
($3,993) |
($81,213)
($3,993) |
Change in IBNR | $66 | $113 | $5,951 | ($7) | $0 | $0 | $0 | $0 | $6,122 |
Incurred Loss Sub Total | $1,214 | $5,919 | $120,115 | $54,631 | $13,902 | ($24,479) | ($60,958) | ($6,811) | $103,534 |
Acquisition and General Expenses | ($3,236) | ($2,898) | $10,231 | $1,193 | $202 | $403 | $947 | ($2,308) | $4,534 |
Total Underwriting Expenses | ($2,022) | $3,021 | $130,347 | $55,824 | $14,104 | ($24,076) | ($60,011) | ($9,119) | $108,068 |
Underwriting Income / (Loss) | $8,145 | $5,798 | $5,033 | ($3,457) | $2,988 | $42,238 | $71,146 | $16,103 | $147,994 |
*External business written by Class A Insurers.
Motor | Property | Liability | Marine & Aviation | Health | International Health | Other |
Total Non-Life |
Total Life & Annuity | Grand Total | |
---|---|---|---|---|---|---|---|---|---|---|
Gross Written Premiums | $51,677,852 | $303,839,453 | $76,765,848 | $42,804,134 | $430,532,175 | $14,617,960 | $45,408,412 | $965,645,834 | $36,025,557 | $1,001,671,391 |
Assumed Premiums | $433,622 | $51,377,753 | $119,174,734 | $14,642,564 | $0 | $1,709,132 | $6,169,782 | $193,507,587 | $0 | $193,507,587 |
Total Written Premium | $52,111,474 | $355,217,206 | $195,940,582 | $57,446,698 | $430,532,175 | $16,327,092 | $51,578,194 | $1,159,153,421 | $36,025,557 | $1,195,178,978 |
Reinsurance Ceded | $22,444,717 | $259,845,839 | $9,464,612 | $0 | $16,747,502 | $0 | $1,431,978 | $309,934,648 | $5,404,800 | $315,339,448 |
Unearned Premium Adjustment | $1,427,391 | $3,156,082 | ($420,640) | $0 | $23,109 | $0 | ($12,446) | $4,173,495 | $0 | $4,173,495 |
Net Earned Premiums | $28,239,367 | $92,215,286 | $186,896,609 | $57,446,698 | $413,761,565 | $16,327,092 | $50,158,662 | $845,045,278 | $30,620,757 | $875,666,035 |
Commissions Received | $7,138,013 | $43,564,521 | $2,207,463 | $0 | $271,469 | $0 | $162,951 | $53,344,417 | $36,321 | $53,380,738 |
Total Underwriting Income | $35,377,379 | $135,779,806 | $189,104,073 | $57,446,698 | $414,033,034 | $16,327,092 | $50,321,613 | $898,389,695 | $30,657,078 | $929,046,773 |
Net Claims Paid | $14,616,569 | $20,087,933 | $87,838,031 | $15,779,537 | $316,512,933 | $6,141,858 | $27,383,635 | $488,360,497 | $9,157,483 | $497,517,980 |
Movement in Claim Reserves | $3,076,955 | ($14,946,533) | $50,540,354 | ($5,649,501) | $25,547,543 | $258,171 | $74,604,890 | $133,431,878 | ($1,189,877) | $132,242,001 |
Acquisition Costs | $5,969,518 | $37,655,089 | $2,057,479 | $0 | $26,568,958 | $0 | $158,901 | $72,409,945 | $4,888,533 | $77,298,478 |
Other Underwriting Expenses | $336,579 | $865,242 | $6,259,281 | $1,228,074 | $10,762,815 | $191,027 | $926,865 | $20,569,883 | $2,154,546 | $22,724,429 |
Total Underwriting Expenses | $23,999,621 | $43,661,731 | $146,695,145 | $11,358,110 | $379,392,250 | $6,591,056 | $103,074,291 | $714,772,204 | $15,010,685 | $729,782,889 |
Underwriting Profit / (Loss) | $11,377,758 | $92,118,076 | $42,408,928 | $46,088,588 | $34,640,784 | $9,736,036 | ($52,752,678) | $183,617,491 | $15,646,393 | $199,263,884 |
Domestic Insurance Companies-Audited Statistics By Primary Class Of Business 2012-2022*View
Lines of Business Trend 2012-2022*View
Risk Location | Licence Count by Risk Location | % Count by Risk Location | Total Premium | Total Assets Value |
---|---|---|---|---|
Africa, Asia & Middle East | 9 | 1% | $920,461,910 | $2,000,288,581 |
Caribbean & Latin America | 26 | 4% | $573,774,264 | $1,920,776,070 |
Europe | 6 | 1% | $32,637,773 | $904,752,457 |
North America | 635 | 89% | $35,199,229,967 | $125,054,302,679 |
Worldwide | 36 | 5% | $4,311,543,299 | $22,350,982,848 |
Total | 712 | 100% | $41,037,647,213 | $152,231,102,635 |
Business Class | Licensee Count | % of Licensees | Total Premium | Total Asset Value |
---|---|---|---|---|
Accident & Health | 10 | 1% | $249,869,165 | $233,200,557 |
Automobile P.D. & Liability | 44 | 6% | $1,475,359,254 | $4,519,303,522 |
Credit Life | 8 | 1% | $642,551,227 | $708,990,658 |
Crime | 1 | 0% | $717,558 | $17,472,044 |
Deferred Variable Annuities | 7 | 1% | $535,517,242 | $10,017,798,536 |
General Liability | 104 | 15% | $3,226,744,345 | $7,990,242,292 |
Healthcare | 29 | 4% | $5,492,546,930 | $3,382,043,693 |
HPL and Physicians Liability | 27 | 4% | $368,953,130 | $1,937,362,134 |
Life | 40 | 6% | $11,188,711,501 | $70,016,534,128 |
Marine and Aviation | 6 | 1% | $37,266,158 | $266,954,090 |
Medical Malpractice Liability | 135 | 19% | $3,167,426,042 | $13,685,888,006 |
Products Liability | 10 | 1% | $61,243,526 | $502,542,725 |
Professional Liability | 59 | 8% | $545,972,259 | $2,564,837,086 |
Property | 73 | 10% | $7,159,320,297 | $15,013,473,881 |
Surety Bonds | 8 | 1% | $58,458,539 | $1,117,969,621 |
Workers' Compensation | 151 | 22% | $6,826,990,040 | $20,256,489,662 |
Total | 712 | 100% | $41,037,647,213 | $152,231,102,635 |
Category | Count of Category | % of Category | Total Premium | Total Assets Value |
---|---|---|---|---|
Commercial Insurer | 20 | 3% | $82,886,596 | $1,859,964,034 |
Group Captive | 135 | 19% | $4,925,160,072 | $13,740,326,646 |
Pure Captive | 295 | 41% | $5,477,297,726 | $21,729,779,786 |
Reinsurance Companies | 107 | 15% | $25,093,351,845 | $93,195,346,680 |
Segregated Portfolio Company | 139 | 20% | $4,605,569,554 | $17,580,609,705 |
Special Purpose Vehicle | 16 | 2% | $853,381,420 | $4,125,075,784 |
Total | 712 | 100% | $41,037,647,213 | $152,231,102,635 |
License Class | Count of Category | % of License Count | Total Premium | Total Assets Value |
---|---|---|---|---|
Class B Insurer | 687 | 96% | $31,770,189,399 | $123,182,616,354 |
Class C Insurer | 16 | 3% | $853,381,420 | $4,125,075,784 |
Class D Insurer | 9 | 1% | $8,414,076,394 | $24,923,410,497 |
Grand Total | 712 | 100% | $41,037,647,213 | $152,231,102,635 |
Note: $ figures are in USD
Be the first to know about releases and industry news and insights.