Insurance

The financial sector was the fifth largest contributor to GDP in 2018 at 6.5%. Both the life and non-life insurance sectors saw a reversal from the previous year, with slight growth in gross premiums. While free of the catastrophic sequence of hurricanes that decimated our northern neighbours in 2017 and impacted the balance sheets of regional non-life players, 2018 illustrated the vulnerabilities facing the local non-life industry.