Report on Insurance Industry in Belize published by Research and Markets

Research and Markets has announced the addition of the report called “The Insurance Industry in Belize, Key Trends and Opportunities to 2017” to their offering.

The economy of Belize is small and largely dependent on agriculture and tourism, with GDP estimated at BZ$ 3.2 billion (USD 1.6 billion) in 2012. After negative growth due to the financial crisis of 2009, GDP of Belize grew along with improvement in agriculture production (such as sugar and citrus) and increase in overnight tourist arrivals, especially from the United States. The insurance industry expanded at a CAGR of 6.3% during the review period (2008-2012). The industry is regulated by the Supervisor of Insurance. The insurance industry is competitive, with 12 companies serving a population of 332,700 at the end of 2011. As with elsewhere in the Central American region, the non-life segment accounts for the largest proportion of gross written premium with 44.2% of the total in 2012.

The report provides market analysis and information on the insurance industry in Belize, including the Belizean insurance industry’s growth prospects by insurance segments and categories; the competitive landscape in the Belizean insurance industry; the current trends and drivers of the insurance industry; the challenges facing the Belizean insurance industry; and the regulatory framework of the insurance industry of the jurisdiction.

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