Loading...

Statistics on The Insurance Sector

Review of Economic Performance-Current Context.

Industry Statisticsmyiaj_admin2024-10-08T11:27:18+00:00

Latest Industry News

PeterLevey-SpeakstoMotorInsurance

IAJ President – Peter Levy- Motor Uninsured
Managing Director BCIC- Speaks on the amount of uninsured motor vehicle on the road in Jamaica and the dangers it creates for the insured driver.

PeterLevey-SpeakstoMotorInsurance

IAJ President – Peter Levy- General Uninsured
Managing Director BCIC- Speaks on the amount of the uninsured population in Jamaica.

Past Statistics:

Life Insurance (2016-2017)
Click to Download Reports

General Insurance (2014-2015)
Click to Download Reports

Claims Payout (2012-2013)
Click to Download Reports

General Insurance (2014-2015)
Click to Download Reports

General Insurance (2014-2015)
Click to Download Reports

General Insurance (2014-2015)
Click to Download Reports

General Insurance (2014-2015)
Click to Download Reports

advertise-here

advertise-here

Statistics on The Insurance Sector.

The insurance industry in Jamaica is one of the largest in the Caribbean. In 2017, Jamaica’s insurance sector had over 795 Sales Representatives in Life Insurance servicing among 6 life insurance companies. In 2017, Jamaica’s insurance sector had over 500 Sales Representatives in General Insurance servicing among 10 general insurance companies. Learn More >

Industry Statistics

iaj-motorinsurance_icons_white-01

MOTOR INSURANCE

iaj-propertyinsurance_icon_white-01

PROPERTY INSURANCE

iaj-heath-insurance_icon_white1-01

HEALTH INSURANCE

iaj-retierment-insurance_icon_white-01

RETIREMENT INSURANCE

906, 2020

Petrojam makes transition to low sulphur heavy fuel oil

PETROJAM says that after six months of implementation it has made a smooth transition to supplying the very low sulphur heavy fuel oil, which is used in the marine sector.

A release from the company stated that on January 1,

906, 2020

Micro financiers seek inclusion in post-COVID-19 recovery process

JAMAICA’S micro financiers are concerned that they are not included in the deliberations on post-COVID-19 economic recovery, including at the level of the task force appointed to make recommendations to the Government.

Acting president of the Jamaica Micro Financing Association (JaMFA),

806, 2020

Bloomberg is reporting that Western Union has made a takeover offer for MoneyGram, but the deal is yet to be finalized.

Bloomberg is reporting that Western Union has made a takeover offer for MoneyGram, but the deal is yet to be finalized.

If the offer is successful it would join two of the largest remittance firms in the world.

Western Union brought in US$4.4 billion

806, 2020

Sharp decline in NIR

RJR Website

8:15 am, Mon June 8, 2020

There has been a sharp dip in Jamaica’s Net International Reserves (NIR).

The Bank of Jamaica (BOJ), is reporting that the NIR declined by US$228 million in May.

At the end of the month the

2017 General Insurance Claims

Gross Claims incurred for 2017 was $13.2 billion 10% below the $14.7 billion recorded 2016 as there some exceptional claims in 2016.Reinsurance on claims was $2.42billion, -55% below $5.39billion for 2016. Motor claims were $ 9.5 B, 72 % of total claims incurred.

2017 General Insurance Claims

Gross Claims incurred for 2017 was $13.2 billion 10% below the $14.7 billion recorded 2016 as there some exceptional claims in 2016.Reinsurance on claims was $2.42billion, -55% below $5.39billion for 2016. Motor claims were $ 9.5 B, 72 % of total claims incurred.

2017 General Insurance Claims

Gross Claims incurred for 2017 was $13.2 billion 10% below the $14.7 billion recorded 2016 as there some exceptional claims in 2016.Reinsurance on claims was $2.42billion, -55% below $5.39billion for 2016. Motor claims were $ 9.5 B, 72 % of total claims incurred.

2017 General Insurance Claims

Gross Claims incurred for 2017 was $13.2 billion 10% below the $14.7 billion recorded 2016 as there some exceptional claims in 2016.Reinsurance on claims was $2.42billion, -55% below $5.39billion for 2016. Motor claims were $ 9.5 B, 72 % of total claims incurred.

2017 General Insurance Claims

Gross Claims incurred for 2017 was $13.2 billion 10% below the $14.7 billion recorded 2016 as there some exceptional claims in 2016.Reinsurance on claims was $2.42billion, -55% below $5.39billion for 2016. Motor claims were $ 9.5 B, 72 % of total claims incurred.

2017 General Insurance Claims

Gross Claims incurred for 2017 was $13.2 billion 10% below the $14.7 billion recorded 2016 as there some exceptional claims in 2016.Reinsurance on claims was $2.42billion, -55% below $5.39billion for 2016. Motor claims were $ 9.5 B, 72 % of total claims incurred.

Other Interesting Statistics

Life Insurance Caribbean

General Insurance Caribbean

Retirement Investment Caribbean

IAJ Promotes Best Practices in
The Insurance Industry.

The IAJ provides avenues for addressing common concerns and encourage sound industry practices and ethical conduct of members while promoting the best interests of the insuring public.

Stay Informed, Join the Conversation

IAJ stands ready to engage everyone promoting insurance literacy among the Jamaican consumers through our various platforms including but not limited to our Website, Social Media, Email and Events.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. Settings Ok