Jamaica

The country profile below provides information on population, gross domestic product, insurance premiums and leading insurers.

Insurance Association

The Insurance Association of Jamaica
Web: www.iaj-online.com

 

Population, 2011-2015 (1)

Year Population
2011 2,868,380
2012 2,889,187
2013 2,909,714
2014 2,930,050
2015 2,950,210

(1) Estimated.

Source: U.S. Central Intelligence Agency.

 

 

Gross Domestic Product, 2011-2015 (1)

(U.S. $ billions)

Year GDP
2011 $23.9
2012 24.6
2013 25.1
2014 24.3
2015 24.7

(1) Based on Purchasing Power Parity calculations, which take into account the relative cost of living and inflation rates of countries. GDP estimate for July for each year shown.

Source: U.S. Central Intelligence Agency.

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Life And Nonlife Insurance Premiums, 2014

(U.S. $ millions)

  Direct premiums written
Nonlife premiums (1) $409
Life premiums 309
Total premiums $718
Percent of total world premiums 0.02%

(1) Includes accident and health insurance.

Source: Swiss Re, sigma, No. 4/2015.

 

 

Leading Nonlife Insurance Companies, 2014

 

  Gross written premiums
Company JMD Mn   USD Mn  
Advantage General  5,393.0 48.6
Guardian General  5,249.7 47.3
General Accident (GA)  5,072.4 45.7
British Caribbean (BCIC)  4,795.7 43.2
Jamaica International  4,057.9 36.6
JN General Insurance  3,591.8 32.4
Insurance Company of the West Indies  3,311.2 29.9
AIG  1,925.6 17.4
Key  728.2 6.6

Source: Axco Insurance Information Services.

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Leading Life Insurance Companies, 2014

 

  Gross written premiums
Company JMD Mn   USD Mn  
Sagicor Life Jamaica  13,268.9 119.6
Guardian Life  7,107.6 64.1
Scotia Life Jamaica  6,191.9 55.8
NCB Insurance  2,955.1 26.6

Source: Axco Insurance Information Services.

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