Self Reliance

What Self Reliance does

Self Reliance (legal name N.V. Surinaamse Assurantie Maatschappij SELF RELIANCE) is a privately held Surinamese insurance company that has been continuously operating since November 1, 1980. Headquartered in Paramaribo with branch offices in Wanica and Nickerie, the company employs between 51 and 100 staff and serves three primary customer segments — individuals (Particulieren), businesses (Bedrijven), and government entities (Overheid) — through a multi-channel distribution model spanning its website, telephone, WhatsApp, three physical branches, and mobile/POS payment points including Mopé and at least nine local banks accepting SRD, USD, and EUR.

The company's product portfolio is a comprehensive multi-line insurance book built around eight core lines: Motorrijtuigenverzekering (MSR) covering WA, Mini-Casco, Casco, Budget Casco, and electric vehicles; Particuliere Ziektekostenverzekering (PZS) in three tiers (Basis, Comfort, X-Comfort); Brandverzekering for property; Ongevallenverzekering including the SOR mandatory workplace scheme; Reisverzekering for travel across Suriname, Europe, and Worldwide; Levensverzekering/Pensioenverzekering delivered through the 2007-vintage subsidiary Self Reliance Levensverzekeringen N.V. via the APSR (Wet Algemeen Pensioen 2014-compliant) and FSP plans; Uitvaartverzekering; and Variaverzekeringen covering AVB, professional liability, C.A.R., money/goods transport, and aviation/maritime. Add-on modules include PTS dental cover, TOR temporary death risk, and ASR 24/7 auto breakdown assistance. The underlying technology is described as a core policy management and claims processing system with no disclosed AI capabilities; the technology stack is augmented by a digital quote-and-premium calculator and WhatsApp-based claims intake launched in August 2022.

Self Reliance generates revenue primarily through recurring insurance premiums across its product lines, billed monthly for some health and pension products and annually or pay-as-you-go for motor, fire, accident, and travel lines. Pricing is quote-based and not publicly disclosed, with premiums varying by coverage, age, medical history, vehicle type, and selected currency. The company is privately held with no disclosed parent, external investors, or stock exchange listing, and ownership is described as independently operated. Its strategic positioning combines 40-plus years of local market presence, a regulated and capitalized life insurance subsidiary, multi-currency premium collection suited to Suriname's dollarized economy, and incremental digitalization of customer-facing channels while maintaining a traditional branch-and-intermediary sales motion.

Name

Self Reliance

Legal name

N.V. Surinaamse Assurantie Maatschappij SELF RELIANCE

Website

https://self-reliance.sr

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

51–100 employees

Short description

Self Reliance is a privately held Surinamese multi-line insurance company, operating since 1980 from Paramaribo with branches in Wanica and Nickerie, serving individuals, businesses, and government through motor, health, life/pension, fire, travel, accident, and specialty insurance products.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Carriers and Related Activities (524)

SIC

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

akta.pro primary industry

Standard Personal Auto Insurance (Liability, Collision & Comprehensive) (FSAJAAAA)

akta.pro secondary industries

Personal Accident Insurance (Injury, Disability & Income Benefit) (FSAJAJAD), Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

Keywords

• General insurance products
• Health insurance
• Motor vehicle insurance
• Life and pension insurance
• Property and casualty insurance

Headquarters

HQ city

Paramaribo

HQ country

Suriname

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premium Revenue: Self Reliance generates revenue through collection of insurance premiums across multiple product lines including life insurance, health insurance (PZS), motor vehicle insurance (MSR), travel insurance, accident insurance, funeral insurance, fire insurance, and various specialty insurance products (Varia). Premiums are collected in multiple currencies (SRD, USD, EUR) through various payment methods including bank transfers, POS terminals, and mobile payments via Mopé.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Self Reliance sells a comprehensive portfolio of insurance products in Suriname covering personal lines (health, motor vehicle, travel, accident, life, funeral, dental) and commercial lines (business liability, professional liability, construction all-risks, money/goods transport, aviation/maritime). It also offers pension plans compliant with the Wet Algemeen Pensioen 2014 and a 24/7 auto breakdown assistance service bundled with motor policies. Revenue is generated through recurring insurance premiums paid in SRD, USD, or EUR across individuals, businesses, and government entities.

Product overview

Self Reliance is a Surinamese insurance company operating since November 1, 1980, offering a comprehensive portfolio of insurance products for individuals, businesses, and government entities. The core product offerings include Motorrijtuigenverzekering (MSR) for motor vehicles with various cascho options, Particuliere Ziektekostenverzekering (PZS) health insurance in three tiers (Basis, Comfort, X-Comfort), Brandverzekering for property/fire coverage, Ongevallenverzekering for accidents and SOR workplace insurance, Reisverzekering for travel coverage, Levensverzekering/Pensioenverzekering for life and pension including APSR and FSP plans, Uitvaartverzekering for funeral coverage, and Variaverzekeringen for miscellaneous products including C.A.R., AVB, and professional liability. Supplementary offerings include Particuliere Tandheelkundige Dekking (PTS) dental insurance, Tijdelijke Overlijdensrisicoverzekering (TOR) death risk coverage, and Autopech Hulpdienst Self Reliance (ASR) breakdown assistance. The company also operates Self Reliance Tower Auditorium as a venue rental service.

Differentiator

Problem solved

Functional benefit

Brands

• PZS (Particuliere Ziektekostenverzekering Self Reliance): Health insurance product with three packages: PZS Basis, PZS Comfort, and PZS X-Comfort (collective).
• MSR (Motorrijtuigenverzekering Self Reliance)
• Self Reliance Levensverzekeringen N.V.
• APSR (Algemeen Pensioen Self Reliance)
• FSP (Flexibel Spaarpensioen Plan)
• TOR (Tijdelijke Overlijdensrisicoverzekering)
• PTS (Particuliere Tandheelkundige Dekking Self Reliance)
• ASR (Autopech Hulpdienst Self Reliance)
• Self Reliance Tower Auditorium

Products and services

• Motorrijtuigenverzekering (MSR) Comprehensive motor vehicle insurance covering third-party liability (WA), Budget Casco, Mini Casco, Full Casco, legal aid (Rechtsbijstandverzekering), occupant accident insurance, and coverage for Light Electric Vehicles (electric bikes, fatbikes, e-scooters) for individuals and fleet owners.
• Particuliere Ziektekostenverzekering (PZS) Private health insurance offered in three tiers — PZS Basis (minimum legal coverage extended), PZS Comfort (extensive individual/family coverage), and PZS X-Comfort (custom collective packages for businesses with CAO agreements) — covering hospitalization, specialist care, medicines, optical care, dental care, ambulance transport, and home care.
• Brandverzekering Property/fire insurance covering damage to homes or business premises from fire, lightning, explosion, burglary, and gusts of wind, structured across three rubrics (Basic A, Theft B, Other hazards C) for residential and commercial policyholders.
• Ongevallenverzekering Accident insurance covering personal accidents (Persoonlijke Ongevallenverzekering - PO), the mandatory Surinaamse Ongevallen Regeling (SOR) for workplace accidents, and Aansprakelijkheidsverzekering voor Particulieren (AVP) personal liability, with benefits for death, temporary/permanent disability, and medical costs.
• Reisverzekering Travel insurance with three geographic coverage areas (Suriname, Worldwide, Europe) and four coverage rubrics: baggage damage/theft, extraordinary expenses (illness, accident, death, forced stay), accidental death or permanent disability, and medical costs during travel.
• Uitvaartverzekering (Begrafenis) Burial/funeral insurance covering costs of burial or cremation, available from an insured amount of SRD 10,000 in USD or EUR currencies, with only ten years of premium payments providing lifelong coverage for policyholders.
• Levensverzekering / Pensioenverzekering (APSR & FSP) Life and pension insurance comprising Algemeen Pensioen Self Reliance (APSR) compliant with the Wet Algemeen Pensioen 2014 covering old age, disability, and survivor's pension, plus Flexibel Spaarpensioen Plan (FSP) as a flexible supplementary pension with optional partner and orphan coverage, offered in SRD, USD, and EUR.
• Variaverzekeringen Miscellaneous insurance products including Aansprakelijkheidsverzekering voor Bedrijven en Beroepen (AVB - business liability), Beroepsaansprakelijkheidsverzekering (professional liability for doctors and lawyers), Construction All Risks (C.A.R.) insurance, Geld- en goederentransportverzekering (money and goods transport), and Vlieg- en vaartuigverzekering (AVV - aircraft and vessel insurance) targeted at commercial clients.
• Particuliere Tandheelkundige Dekking (PTS) Supplementary dental insurance covering dental treatments including two annual check-ups, two preventive/hygiene sessions, two extractions, two restorations, and various filling types (amalgam or composite) for individual policyholders.
• Tijdelijke Overlijdensrisicoverzekering (TOR) Temporary death risk insurance that pays a lump sum to beneficiaries upon death during the insured period, available for terms from one year up to age 70 (maximum entry age 64), with longer terms offering premium benefits.
• Autopech Hulpdienst Self Reliance (ASR) Auto breakdown assistance service available 24/7, 7 days a week, including on-site repair, vehicle transport when repair is not possible, battery charging, tire assistance, key lockout assistance, and accident assistance (AA) including help with accident forms and damage photos, free for MSR motor policyholders.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Partnerships

One partnership is on record.

• Rotary Clubs of SurinameminorOthers · 7 April 2023Self Reliance participated in the Rotary Corporate Challenge, winning the first edition. The event brought together 10 companies for team-building activities. Proceeds from the event went to renovation of the gymnasium of Bloementuinschool, an MLK special education school.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Sagicor Life Caribbean: Large Caribbean insurance and financial services group operating across multiple Caribbean markets. Relevant for life and pension product benchmarking and reinsurance/capital strategy comparability.
• Guardian Life of the Caribbean: Trinidad-based insurance group offering life, health, and pension products across the Caribbean. Comparable in product structure (life/pension focus) and regional distribution model.
• Guardian Group (Trinidad): Broader Caribbean insurance conglomerate offering life, health, property and casualty, and pensions across the region. Useful as a regional benchmark for product breadth and multi-jurisdictional distribution.

Regional players

• Demerara Mutual Life Insurance Society: Long-standing life insurer in Guyana (neighboring Caribbean country). Comparable as a regional multi-line life and health insurer serving a similar small population with limited international diversification.
• ICWI (Insurance Company of The West Indies): Caribbean P&C insurer operating across multiple Caribbean jurisdictions offering motor, property, and liability coverage. Comparable in product mix and geographic scope across small island/markets.
• ENNA (Ennia Holding N.V.): Curaçao-based insurer with life and health exposure across the Dutch Caribbean (including Suriname). Comparable in target market and product set, though currently in restructuring.

Direct peers

• Fatum Holding N.V. Curaçao-based insurance group with operations across the Dutch Caribbean including Suriname. Offers comparable life, health, motor, and property insurance products with similar multi-channel distribution model.
• Nationale Algemene Verzekerings Maatschappij (NAV): Surinamese insurance carrier offering personal and commercial insurance products. Local competitor competing for similar individual and government segments.
• Assuria Verzekering N.V. One of the largest direct competitors in Suriname, offering a comparable multi-line insurance portfolio (life, health, motor, fire) to individuals, businesses, and government. Most directly comparable domestic peer.

Emerging players

• Self Reliance's other domestic insurers (e.g., Parsasco, SuriVoor): Smaller Surinamese insurance providers offering narrower product ranges but competing for the same individual and SMB customers. Useful as emerging/regional comparables.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC3pyiY76K384dgLAlACDMZA
• Facebookfacebook.com/selfreliancenv
• LinkedInlinkedin.com/company/self-reliance
• Instagraminstagram.com/selfreliancenv
• TikToktiktok.com/@selfreliancenv?is_from_webapp=1&sender_device=pc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

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 Self Reliance