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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Nicaraguan non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Nicaragua's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Nicaragua non-life (P&C) market as well as trends by line of business. Axco analysts also report on Nicaragua's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Nicaragua's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Nicaragua, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Nicaragua, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Nicaragua with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Nicaragua is amongst the poorest nations in Central America and according to the latest figures from the World Bank (WB) an estimated 25% of the population exist in a state of poverty. The country has a high dependency on remittances sent in from those working abroad.
The insurance market is relatively small and offers limited potential for development. According to Axco Global Statistics the life and non-life market was in 119th position ....
This is a brief extract of information; more updated information may be available in the latest published report.
