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The Insurance Industry in the Solomon Islands, Key Trends and Opportunities to 2017

Solomon Islands insurance market: Latest market analysis presented


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2014-02-25 09:29:01 - The Insurance Industry in the Solomon Islands, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

Driven by robust economic development and increased demand for non-life insurance, the Solomon Islands insurance industry registered positive growth during the review period. The industry grew in terms of written premium value from SBD37.7 million (US$5.4 million) in 2008 to SBD65.8 million (US$9.7 million) in 2012, recording a CAGR of 15.0% during the review period. Industry growth was supported by the significant growth registered in the personal accident and health insurance segment, which recorded the fastest CAGR of 16.6% from 2008–2012.

Key Highlights

• Driven by robust economic development and increased demand for non-life insurance, the Solomon Islands insurance industry remained unaffected by the global financial crisis and registered positive growth during the review period

• Robust economic development in the Solomon Islands

 

 

spurred the demand for insurance products during the review period

• Healthcare has been one of the key focuses of the Solomon Islands government during the review period

• A small population size is not conducive for insurance business, especially life and annuity insurance which require a large client base for expansion

Report Scope

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

• It provides historical values for the Solomon Islands insurance industry for the reports 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 Solomon Islands 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

Reasons to Buy

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

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Mike King
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