Sustainability First: Climate Change Education Could Lower Premiums

NASSAU, BAHAMAS - The Bahamas Insurance Association is taking strides to see how the Bahamian insurance industry can help shape the way the country navigates the risks involved with climate change.

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Premium Processed Foods seeking to source sheep tongue abroad

The manufacturer of a well-known orange package of pre-prepped sheep tongue has a good problem, his demand is outstripping supply. Premium Processed Foods Limited's owner David Turnquest wants to raise more than $170,000 in order to source sheep tongue abroad. That new supply would bring down his costs, expand his operation and make sheep tongue souse more affordable, ...
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Bahamas First's premium levels up 7.3%

Despite market factors that continue to apply pressure to Bahamas First Holdings Limited's top line, the company registered a 7.3 percent improvement in premium levels during the 2022 financial year compared to the previous year. Overall, the company saw growth from $178.2 million in 2021 to $191.2 million at the end of last year. Group ...
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BIA warns of increased home insurance premiums

Homeowners can expect increased premiums this year, as the region loses reinsurers as a result of increased catastrophe payouts from losses that totaled $120 billion last year, the Bahamas Insurance Association (BIA) explained in a press statement, adding that reinsurance costs have already increased between 20 and 30 percent this year. The statement also explained that ...
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Central Bank announces ICM premium being reinstated

After approving more than $200 million worth of investment transactions, The Central Bank of The Bahamas (CBOB) announced yesterday that it is reinstating the five percent Investment Currency Market (ICM) premium it had previously waived for resident investors. In October, CBOB waived the premium for local investors applying to invest in US dollar-dominated Bahamas government ...
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Gross insurance premiums just short of $1B in 2021

Gross premiums in the insurance industry in The Bahamas grew to $985.69 million in 2021, a more than $100 million increase over 2020's $844.5 million in gross premiums, the Insurance Commission of The Bahamas (ICB) revealed in its annual report for 2021. Additionally, general insurers underwrote gross premiums of $423.4 million and net premiums of ...
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CEO: Strong return of tourism seen in increase of premium alcohol sales

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Inspired, The Leading Global Group of Premium Schools, Announces Expansion into The Bahamas King’s College School Opening in August 2022 in Nassau

Inspired Education Group (“Inspired”), the leading global group of premium schools, educating over 50,000 students in more than 70 premium schools across five continents, today announced plans to expand its educational footprint to The Bahamas with the establishment of King's College School, The Bahamas. Once completed, the school will be the first of its kind in the region that is part of a g...

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ICB: Insurance premium deferment created challenges

As the end of the deferment period for insurance policyholders draws closer, Insurance Commission of The Bahamas (ICB) Superintendent of Insurance Michele Fields said the deferment presented challenges for brokers and agents. Shortly after declaring a national state of emergency due to the COVID-19 pandemic, Prime Minister Dr. Hubert Minnis suspended the obligation of policyholders ...

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Premiums could rise 20 on islands impacted by Dorian

Warren Rolle.Early indications on the rise of insurance premiums in the wake of Hurricane Dorian are that they could increase by 15 to 20 percent on the affected islands and also by a smaller percentage on islands not directly hit by Hurricane Dorian, Chairman of the [...]
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