Life insurance companies record increase in net premium income

The latest Economic and Social Survey Jamaica shows local life insurance companies have recorded an increase in net premium income.

It increased by 4.7 per cent to $48 billion in 2016 when compared to the previous year.

In that year $122,609 new policies were also issued .

This increased the number of  policies in force to just over $960-thousand.                                                 

Meanwhile, general insurance companies reported a 3.9 per cent increase in Net Premium Income - it amounted to $16.9 billion.

There was a 9.4 per cent increase in net profit to $3.3 billion.            

Total assets increased to $70.7 billion up 9.1 per cent.