NAGICO Insurances

What NAGICO Insurances does

NAGICO Insurances, legally National General Insurance Co. (NAGICO) N.V., is a privately-held general insurance company headquartered in Philipsburg, St. Maarten, and the self-described largest privately-owned general insurance company in the Caribbean. It is licensed and operating across 21+ territories spanning the Dutch, English, and French Caribbean — including Anguilla, Antigua, Aruba, Bahamas, Bonaire, BVI, Curaçao, Dominica, Grenada, Montserrat, Nevis, Saba, St. Barthélemy, St. Eustatius, St. Kitts, St. Lucia, St. Maarten, St. Vincent, Trinidad & Tobago, and Turks & Caicos — supported by multilingual service in English, Dutch, and French.

The company's product portfolio is a full multi-line suite covering personal and commercial lines: motor (Motor Comprehensive, Third Party, Commercial Vehicle), property (Homeowners Super Plus, Renter's, Hurricane Xtra, Fire & Extended Perils), marine (yacht, cargo, hull, liability), life (Level Term, Special 60+ Level Term, Whole Life, Education Savings, Endowment, Serenity), medical (NAGICARE tiered individual and group plans, Small Group Plan), group/pension (Group Life, EPIC, Freedom 62), and specialty lines including Airport Ground Handler's Liability, Aircraft Hull & Liability, Professional Indemnity, Directors & Officers, Contractors All Risk, and more. The underlying technology stack is conventional for a regional carrier — a WordPress-based corporate website at nagico.com supporting online quote requests, policy renewals, claims notification, and claim document submission, with no disclosed proprietary AI/ML, API, or platform technology.

NAGICO's revenue model is built on recurring insurance premiums across personal and commercial lines, with quote-based pricing, annual billing, and explicit bundle discounts for multi-policy households. Distribution is dual-channel: a 200+ strong intermediary network of agents and brokers across the Caribbean, complemented by direct channels (website and NAGICO offices). Strategic emphasis is placed on fast and fair claims settlement, multi-line bundling, and pan-Caribbean accessibility, including a Chubb-embedded travel insurance partnership that extends the product surface without bearing full underwriting risk.

Name

NAGICO Insurances

Legal name

National General Insurance Co. (NAGICO) N.V.

Website

https://nagico.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

251–500 employees

Short description

NAGICO Insurances is a privately-owned Caribbean general insurance carrier operating across 21+ Dutch, English, and French territories, offering personal, commercial, life, health, marine, and specialty insurance products through 200+ agents and direct digital channels.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Fire, Marine & Casualty Insurance (6331), Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Travel & Accident (Non-Life) Insurance (FSAJAMAN)

akta.pro secondary industries

Baggage & Personal Effects Insurance (FSAJAJAE), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

Keywords

• General insurance
• Caribbean insurance
• Property and casualty
• Commercial insurance
• Life and health insurance

Headquarters

HQ city

Old Road Town

HQ country

St. Kitts & Nevis

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance Premiums: NAGICO generates revenue through insurance premium payments from policyholders across their business and personal insurance product lines. Policies include Motor Comprehensive, Third Party Motor, Property & Home, Marine, Life, Medical, and various commercial insurance products.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

NAGICO Insurances is a general insurance company that underwrites and distributes a broad portfolio of personal and commercial insurance products across more than 21 Caribbean territories. Core offerings include motor, property, marine, life, medical, and specialty lines (such as aviation and airport liability) sold through a network of 200+ agents and brokers and direct digital channels. Policies are priced via quote and supported by multilingual service (English, Dutch, French) and a digital self-service portal for quotes, renewals, and claims.

Product overview

NAGICO Insurances is a privately-owned general insurance company operating across the Caribbean. The product portfolio consists of a comprehensive suite of insurance offerings organized into several categories: Vehicle insurance (Motor Comprehensive, Third Party Motor Insurance); Marine insurance (Private Yacht & Boat, Marine Cargo, Marine Liability, Marine Hull); Life insurance (Level Term, Special 60+ Level Term, Whole Life, Education Savings, Endowment Policy, Serenity); Property insurance (Homeowners Super Plus, Renter's Insurance, Hurricane Xtra); Business/commercial insurance (Burglary Business, Business Interruption, Commercial All Risk, Commercial Vehicle, Comprehensive Machinery & Plant, Contractors All Risk, Directors Liability, Employer's Liability, Fidelity Guarantee, Fire & Extended Perils, Money All Risks, Professional Indemnity, Public Liability); Medical insurance (NAGICARE Individual Plan with Turquoise/Emerald/Gold/Platinum tiers, Medical Group Insurance, Small Group Plan); Group insurance (Group Life Policies, Entity Pension Insurance Contract EPIC, Individual Deferred Annuity Contract Freedom 62); and specialty insurance (Airport Ground Handler's Liability, Aircraft Hull & Liability, Critical Illness, Personal Accident Plan). The company operates through intermediaries and direct offices, offering policy bundling discounts across its portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Comprehensive Insurance Comprehensive vehicle insurance covering damage to the insured vehicle regardless of fault, theft, passenger medical coverage, third-party bodily injury and property damage, and roadside assistance. Targeted at individual vehicle owners.
• Third Party Motor Insurance Basic motor insurance covering bodily injury, property damage, defense costs, additional drivers, and roadside assistance. Targeted at individual vehicle owners seeking minimum legal coverage.
• Private Yacht & Boat Insurance Marine insurance covering vessels from small dinghies to long sailboats against perils of the seas, natural or manmade disasters, theft, malicious acts, collision, and acts of piracy. Targeted at private boat and yacht owners.
• Level Term Life Insurance Affordable term life insurance often required by lending institutions as collateral assignment for loans or mortgages, with fixed coverage and level premiums for the policy term. Targeted at individual borrowers and families.
• Special 60+ Level Term Life Insurance Life insurance for clients aged 60 and over, terminating at age 80, with maximum coverage of ANG 100,000 and level premiums. Targeted at senior individuals seeking affordable life cover.
• Whole Life Insurance Permanent life insurance with both insurance and cash value components, assignable to banks as collateral and providing guaranteed cash surrender value. Targeted at individuals seeking long-term life cover with savings.
• Education Savings Life Insurance Life insurance policy designed to cover future education costs for children, with maturity at ages 18, 19, or 20. Targeted at parents saving for their children's education.
• Endowment Policy Life insurance policy that allows saving for goals like travel or retirement, offering a lump sum at maturity, with 20-year terms or endowment to age 60 or 65 and assignable as bank collateral. Targeted at individual savers.
• Serenity Funeral Cover Life insurance covering funeral costs of the insured, with premiums payable for only 15 years and the sum insured increasing by 2.5% annually from year two until death. Targeted at individuals planning end-of-life expenses.
• Homeowners Super Plus Comprehensive homeowners insurance protecting the homeowner's major investment, eligible for bundling with other NAGICO policies. Targeted at individual homeowners.
• Renter's Insurance Insurance protecting personal property such as computers, furniture, and electronics for renters whose landlord's coverage does not extend to their belongings. Targeted at tenants.
• Hurricane Xtra Specialized coverage for hurricane-related expenses and items around the home not typically covered against hurricane damage under standard homeowners policies. Targeted at Caribbean homeowners needing additional hurricane protection.
• Public Liability Insurance Business insurance covering costs of claims or legal expenses when someone is injured on business premises or their property is damaged while receiving services. Targeted at small and medium businesses.
• Professional Indemnity Insurance Insurance for professionals in financial services, design, law, accounting, and medicine covering negligent acts, errors, omissions, and associated legal costs. Targeted at professional services firms.
• Money All Risks Insurance Business insurance protecting against loss of money in transit and on premises, covering money being transported to or from the bank and money on premises during and after business hours. Targeted at businesses handling cash.
• Group Life Policies Group term life insurance, group funeral insurance, and group loss of income policies for employees and members of associations or organizations. Targeted at employers and associations.
• Entity Pension Insurance Contract (EPIC) Tax-approved deferred annuity contract allowing employers and employees to save for retirement, with a normal retirement date of 60 (or 55 to 70 as mandated by local laws). Targeted at employers offering pension benefits.
• Individual Deferred Annuity Contract (Freedom 62) Tax-approved deferred annuity contract allowing employees under age 70 to save for retirement. Targeted at individual savers.
• Fire & Extended Perils Insurance Business insurance covering fire, earthquakes, hurricanes, flood, overflow of the sea, malicious damage, explosion, and vehicular impact. Targeted at commercial property owners.
• Employer's Liability Insurance Business insurance covering lost wages, medical expenses for on-duty injuries, employer negligence, permanent injury compensation, survivor benefits, and legal defense fees. Targeted at employers.
• Fidelity Guarantee Insurance Business insurance protecting companies from employee dishonesty including fraud, theft, loss of money, and loss of property. Targeted at employers concerned with internal fraud.
• Directors and Officers Liability Insurance Directors and Officers liability insurance covering claims for damages and defense costs to protect company leadership from personal liability. Targeted at corporate directors and officers.
• Contractors All Risk Insurance Insurance covering property damage during construction, bodily injury to others, damage to material, debris clearance, machines and tools, delay in start-up, transit and off-site storage, contractors' plant and equipment, and professional fees. Targeted at construction contractors.
• Comprehensive Machinery & Plant Insurance Insurance covering damage to and destruction of equipment. Targeted at businesses dependent on machinery and plant operations.
• Commercial Vehicle Insurance
• Commercial All Risk Insurance
• Business Interruption Insurance
• NAGICARE Individual Medical Plan
• Medical Group Insurance
• Small Group Plan Medical Insurance
• Critical Illness Insurance
• Personal Accident Plan
• Airport Ground Handler's Liability Insurance
• Aircraft Hull & Liability Insurance
• Burglary Business Insurance

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Pan-American Life Insurance Group: Large U.S.-headquartered life and health insurer with significant Caribbean and Latin America operations. Comparable through life, health, and group products sold across overlapping Caribbean territories.
• BF&M Insurance Group: Established Bermuda-based general insurance group with Caribbean operations covering property, casualty, and specialty lines. Comparable as a multi-line regional carrier with a stronger balance sheet and public disclosure profile.

Direct peers

• Colonial Life Insurance Company (Caribbean): Caribbean life and health insurer with multi-territory operations, including group and individual products. Comparable to NAGICO's life, health, and group insurance offerings across English Caribbean.
• Sagicor Life Caribbean: Major Caribbean life, health, and pensions insurer operating across many of the same territories as NAGICO. Comparable product overlap (life, group, annuities) and similar multi-jurisdictional Caribbean footprint.
• Guardian Group: One of the largest insurance and financial services groups in the Caribbean, offering life, health, property and casualty, and pensions across multiple territories. Directly comparable to NAGICO as a multi-line, multi-territory Caribbean carrier.
• General Accident Insurance Company (Caribbean): Caribbean-focused general insurance carrier offering motor, property, marine, and commercial lines in multiple territories. Direct peer to NAGICO's P&C and commercial product suite.

Regional players

• Island Heritage Insurance: Cayman-based insurance provider offering property, motor, and specialty coverage in the Caribbean. Comparable as a regional multi-line carrier competing for similar household and SME customers.
• ICBL (Insurance Corporation of Barbados Ltd.): Barbados-based general insurance group operating in several Caribbean markets with motor, property, and commercial lines. Comparable regional peer in the broader Caribbean insurance market.
• Cayman National Insurance Company: Cayman-based insurer offering personal and commercial lines. Comparable as a Caribbean general insurer with regional concentration and a similar product mix.

Others

• Chubb Limited (Caribbean operations): Global P&C and specialty insurer that already partners with NAGICO on travel. Comparable as a specialty and property insurer in aviation, marine, and high-net-worth segments across the Caribbean.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCdhMltvdE1lF7oV654JPCvA?feature=results_main
• Facebookfacebook.com/NagicoInsurancesStMaarten
• LinkedInlinkedin.com/company/nagico-insurances
• Instagraminstagram.com/nagicoinsurances

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NAGICO Insurances