Insurance Management (Bahamas)

What Insurance Management (Bahamas) does

Insurance Management (Bahamas) Limited is a privately held, Bahamian-owned insurance broker and agent licensed since July 1, 1977 and registered with the Registrar of Insurance Companies under RIC 1183. The company operates as an intermediary between Bahamian insurance consumers and a curated panel of A-rated regional and international carriers — Summit Insurance Company Limited, Island Heritage, Security & General Insurance Company (a CGI subsidiary), and Guardian Group — earning commissions on policies placed across six core product lines: Home Insurance, Motor Insurance, Commercial Insurance, Professional Indemnity (including Medical Malpractice and D&O), Marine & Aviation, and Life & Health. Coverage spans catastrophe perils (hurricanes), fire, theft, liability, professional errors, and maritime/aviation risks, reflecting the Bahamas-specific risk profile.

The company distributes these products through a five-branch physical network spanning New Providence (Nassau headquarters), Grand Bahama (Freeport), Abaco (Marsh Harbour), Eleuthera (Governor's Harbour and Lower Bogue), and Exuma (George Town), supplemented by an online quote-request portal, an online claims-filing portal, and a digital premium-payment system accepting both BSD and USD. Supporting infrastructure is modest: IMB does not build proprietary underwriting or AI technology and instead relies on its carrier partners for risk-bearing and product construction, while it focuses on local distribution, customer service, and claims coordination. The company employs 100+ staff and is governed by a four-member Board led by C. Andrew Saunders (President) and Anton Sealey (Vice-President), with Brian Crick serving as Corporate Financial Controller. PriceWaterhouseCoopers acts as auditor, Graham Thompson & Co. as registered legal counsel.

IMB's revenue model is commission-based, with premiums varying by coverage type, risk profile, and policy terms on a quote-by-quote basis, billed annually. Its competitive positioning rests on multi-island physical accessibility, 47 years of continuous Bahamian ownership, and partnerships with reinsured, A.M. Best A-rated carriers. There is no evidence of recent M&A, external investment, leadership turnover, or significant product launches beyond incremental digital servicing features, consistent with a mature, stable intermediary in a small island market.

Name

Insurance Management (Bahamas)

Legal name

Insurance Management (Bahamas) Limited

Website

https://insurancemanagementbahamas.com

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

51–100 employees

Short description

Insurance Management (Bahamas) Limited is a Bahamian-owned insurance broker and agent operating since 1977, intermediating personal, commercial, professional, marine/aviation, and life/health insurance between Bahamian customers and A-rated regional carriers through five branches and digital portals.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industries

Marine & Aviation Insurance (FSAJAMAI), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH), Yacht & Pleasure Craft Insurance (FSAJAHAI)

Keywords

• Insurance brokerage
• Property and casualty
• Motor insurance
• Marine aviation insurance
• Life health insurance

Headquarters

HQ city

Nassau

HQ country

Bahamas

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: IMB acts as an insurance broker and agent, earning commissions from insurance carriers for placing policies with customers. The company offers a wide range of insurance coverage policies including Personal, Home, Motor, Marine, Aviation, Life, Fire & Peril, Commercial, Professional, Contractors All Risk, and more through partnerships with first-class insurers.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

Insurance Management (Bahamas) Limited is a Bahamian-owned insurance broker and agent that places personal and commercial insurance coverage with partner carriers on behalf of customers across The Bahamas. Its product portfolio covers home, motor, commercial, professional liability, marine & aviation, and life & health insurance, distributed through five physical branch locations and supported by online quote, claims, and payment portals. Revenue is generated through commissions paid by the insurance carriers underwriting the policies.

Product overview

Insurance Management (Bahamas) Limited is a Bahamian-owned insurance broker and agent licensed since 1977, offering a portfolio of insurance products and online service portals. The core product portfolio comprises six main insurance categories: Home Insurance (with catastrophe perils, fire-only, and condominium options), Motor Insurance (Third Party Only, Third Party Fire & Theft, and Comprehensive for cars, motorcycles, and golf carts), Commercial Insurance (Fire, Theft, Liability, Cyber, Contractors All Risk), Professional Insurance (Medical Malpractice, Professional Indemnity, D&O), Marine & Aviation Insurance (Yacht, Aircraft, Hull), and Life & Health Insurance (Medical, Life, Disability, Personal Accident). Supporting these products are three digital service sub-products: an Insurance Forms Portal (for proposal submissions), a Claims Forms Portal (for loss reporting), and a Payment Portal (accepting multiple payment methods in USD and BSD). The company operates from multiple branch locations across The Bahamas including Nassau, Freeport, Abaco, Eleuthera, and Exuma.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Insurance

Quantifiable outcome

• Over 100 staff members serving customers across multiple islands
• +1 more outcomes

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Summit Insurance Company LimitedcoreOthersIMB's partner insurer with an impeccable history of success and claims payment, having paid over hundreds of millions in hurricane claims alone. They have produced consistent bottom-line profits even in years of multiple hurricanes, thanks to conservative management and reinsurance policies. Boasts an A- (Excellent) rating from A.M. Best Company. Reinsurers include Munich Re, Swiss Re, and various underwriters at Lloyds.
• Island HeritagecoreOthersLeading provider of property, casualty, and motor insurance throughout the Caribbean. Holds a financial strength rating of A- (Excellent) from A.M. Best Company. This rating reflects Island Heritage's sound capitalization, excellent balance sheet liquidity, comprehensive reinsurance program and solid presence in the Caribbean.
• Security & General Insurance Company LtdcoreOthersBahamian subsidiary of CGI (Colonial Group International), a Bermuda-based company with operations in Bermuda, the Cayman Islands, The Bahamas, the British Virgin Islands, Turks & Caicos, Barbados, and select international locations. CGI manages over $370 million in premium income with equity in excess of $285 million and circa $800 million of pension assets.
• Guardian GroupcoreOthersThe single largest brand in the insurance and financial services sector in the English and Dutch Caribbean with a rich legacy of over 170 years. The largest indigenous property and casualty insurance company in the region with operations spanning 21 Caribbean territories.
• PriceWaterhouseCoopersminorOthersCompany Auditors as stated in company overview. P.O. Box N3910, Nassau, New Providence.
• Graham Thompson & Co.minorOthersRegistered Address / Company Lawyers as stated in company overview. Located at P.O. Box N-272, Shirley Street and Victoria Street, Nassau, New Providence.

Scale indicators4 records

Recent moves7 records

Expansion highlights4 records

Emerging players

• Sagicor Life Caribbean: Sagicor is a major Caribbean life and health insurance provider with regional scale across multiple territories. It overlaps with IMB in Life & Health and Group Medical lines and represents a partial competitor and potential partner for IMB's life and health distribution.

Regional players

• Cayman National Insurance Brokers: Cayman National operates insurance brokerage and bancassurance distribution in the Cayman Islands and broader Caribbean. As a regional broker with comparable multi-line product scope, it represents a benchmark for IMB's regional expansion opportunity.

Direct peers

• Colina Insurance (Bahamas): Colina Holdings Bahamas Limited is one of the largest Bahamian-owned insurance and financial services groups, offering life, health, property & casualty, and motor coverage through a multi-branch distribution model. Colina is IMB's closest direct domestic competitor in the Bahamas across overlapping product lines.
• BF&M Limited: BF&M is a Bermuda-headquartered insurance group with operations across Bermuda and the Caribbean, providing property & casualty, motor, marine, and group health coverage. It is comparable to IMB as a multi-line regional broker/carrier hybrid targeting similar customer profiles in the broader Caribbean region.
• Bahamas First Holdings: Bahamas First Holdings is a Bahamian insurance group offering general insurance (motor, property, marine) and group life & health benefits, with multiple branches. It directly competes with IMB in commercial and personal lines inside the Bahamas.
• Summit Insurance Company Limited: Summit Insurance is a Bahamian carrier partner of IMB (A- A.M. Best, reinsured by Munich Re, Swiss Re, Lloyd's) that also places its own products with end customers in the Bahamas. It is simultaneously a critical supply-side partner and a distribution competitor to IMB.
• Security & General Insurance / Colonial Group International: Security & General is the Bahamian subsidiary of Colonial Group International (CGI), a Bermuda-based insurance group managing over $370M in premium income. CGI is both a carrier partner of IMB and a vertically integrated competitor with its own distribution across the Bahamas and other Caribbean territories.
• Guardian Group: Guardian Group is the largest indigenous property & casualty and life insurance company in the English and Dutch Caribbean, operating across 21 territories. As both a carrier and a multi-line insurance distributor, it is IMB's most direct regional competitor in the Bahamas/Caribbean market and is also one of IMB's carrier partners, highlighting the dual competitor/partner dynamic.
• Island Heritage: Island Heritage is a leading provider of property, casualty, and motor insurance throughout the Caribbean, rated A- by A.M. Best. While it is also one of IMB's carrier partners, it operates its own distribution in several Caribbean islands and competes with IMB in the Bahamian market for the same product lines.

Broad incumbents

• RBC Insurance Caribbean: RBC's Caribbean insurance operations distribute life, health, and general insurance products across multiple Caribbean islands, leveraging the bank's branch network. It competes with IMB for high-net-worth and commercial customers through a broad-incumbent banking-distribution model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/imb242
• Facebookfacebook.com/insurancemanagement
• LinkedInlinkedin.com/company/insurance-management-bahamas

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 Insurance Management (Bahamas)