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Synopsis

The report provides in-depth industry analysis, information and insights of the insurance industry in Ecuador, including:
• The Ecuadorian insurance industry’s growth prospects by insurance segments and categories
• The competitive landscape in the Ecuadorian insurance industry
• The current trends and drivers of the Ecuadorian insurance industry
• Challenges facing the Ecuadorian insurance industry
• The detailed regulatory framework of the Ecuadorian insurance industry


Summary

The Ecuadorian insurance industry is one of the fastest-growing insurance industries in Latin America in terms of gross written premium. It held a market share of 0.9% of the Latin American total premium in 2012, growing from US$883.8 million in 2008 to US$1.5 billion in 2012, at a compound annual growth rate (CAGR) of 14.4% during the review period (2008–2012). Growth in the industry was due to the government’s large-scale infrastructure development, economic recovery following the global financial crisis, regulatory changes and increased merger and acquisition activity. These factors are expected to remain buoyant and continue to support the industry over the forecast period (2012–2017) when it is projected to grow at a CAGR of 12.9%.

Scope

This report provides a comprehensive analysis of the insurance industry in Ecuador:
• It provides historical values for the Ecuadorian insurance industry for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period.
• It offers a detailed analysis of the key segments and categories in the Ecuadorian insurance industry, along with forecasts until 2017.
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions .
• It profiles the top insurance companies in Ecuador, and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast industry data related in the Ecuadorian insurance industry and each segment within it.
• Understand the demand-side dynamics, key trends and growth opportunities within the Ecuadorian insurance industry.
• Assess the competitive dynamics in the Ecuadorian insurance industry.
• Identify the growth opportunities and market dynamics within key segments.
• Gain insights into key regulations governing the Ecuadorian insurance industry and its impact on companies and the industry's future.

Key Highlights

• The Ecuadorian insurance industry’s written premium value grew from US$883.8 million in 2008 to US$1.5 billion in 2012, at a review-period CAGR of 14.4%
• Large public spending on infrastructure and social sector are fueling growth in the insurance industry.
• The Ecuadorian insurance industry faces consolidation.
• The Ecuadorian insurance industry’s low penetration rate, measured at 1.8% in 2012, encourages global insurers to look for potential ventures in the country.
• The insurance industry in Ecuador is supervised and regulated by the Superintendency of Banks and Insurance (Superintendencia de Bancos y Seguros – SBS).
• The Ecuadorian insurance industry is fragmented and highly competitive. The 10 leading insurers accounted for 64.7% of the total net written premium in 2012.

Table Of Contents

The Insurance Industry in Ecuador, Key Trends and Opportunities to 2017
Table of Contents

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Ecuadorian Insurance Industry Overview
3.1 Ecuadorian Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
4 Industry Segmentation
4.1 Life Insurance
4.1.1 Individual life insurance
4.1.2 Individual single-premium
4.1.3 Individual non-single-premium
4.1.4 Group single-premium
4.1.5 Group non-single premium
4.2 Non-Life Insurance
4.2.1 Property insurance
4.2.2 Motor insurance
4.2.3 Liability insurance
4.2.4 Marine, aviation and transit insurance
4.3 Personal Accident and Health Insurance
4.3.1 Personal accident insurance
4.3.2 Health insurance
4.4 Reinsurance
5 Governance, Risk and Compliance
5.1 Legislation Overview and Historical Evolution
5.2 Regulations by Type of Insurance
5.2.1 Life insurance regulations
5.2.2 Property insurance regulations
5.2.3 Motor insurance regulations
5.2.4 Marine, aviation and transit insurance regulations
5.2.5 Personal accident and health insurance regulations
5.3 Compulsory Insurance
5.3.1 Traffic accident insurance (SOAT)
5.3.2 General insurance under the Social Security Act
5.3.3 Aviation insurance
5.4 Supervision and Control
5.4.1 International Association of Insurance Supervisors
5.4.2 Association of Insurance Supervisors Latin America
5.4.3 Superintendency of Banks and Insurance
5.5 Non-Admitted Insurance Regulations
5.5.1 Overview
5.5.2 Intermediaries
5.5.3 Market practices
5.5.4 Fines and penalties
5.6 Company Registration and Operations
5.6.1 Types of insurance organization
5.6.2 Establishing a local company
5.6.3 Foreign ownership
5.6.4 Types of license
5.6.5 Capital requirements
5.6.6 Solvency margins
5.6.7 Reserve requirements
5.6.8 Investment regulations
5.6.9 Statutory return requirements
5.6.10 Fee structure
5.7 Taxation
5.7.1 Insurance premium or policy taxation
5.7.2 Withholding taxes on premium paid overseas
5.7.3 Corporate tax
5.7.4 VAT
5.7.5 Captives
5.8 Legal System
5.8.1 Introduction
5.8.2 Access to court
5.8.3 Alternative dispute resolution (ADR)
6 Competitive Landscape
6.1 Overview
6.2 Leading Companies
6.2.1 QBE - Seguros Colonial - company overview
6.2.2 ACE Seguros S.A. - company overview
6.2.3 Seguros de Pichincha - company overview
6.2.4 Equivida S.A. - company overview
6.2.5 Seguros Equinoccial - company overview
6.2.6 AIG Metropolitana Compania de Seguros y Reaseguros S.A. - company overview
6.2.7 Seguros Sucre S.A. - company overview
6.2.8 Panamericana del Ecuador - company overview
6.2.9 Latina Seguros - company overview
6.2.10 Hispana de Seguros S.A. - company overview
7 Economic Indicators
7.1 Market capitalization trend - Bolsa de valores Quito, Ecuador
7.2 GDP at constant prices (US$)
7.3 GDP per capita at constant prices (US$)
7.4 GDP at current prices (US$)
7.5 GDP per capita at current prices (US$)
7.6 Inflation rate
7.7 Exports as a percentage of GDP
7.8 Imports as a percentage of GDP
7.9 Total internet subscribers
7.1 Labor force
7.11 Unemployment rate
7.12 Total population
7.13 Urban and rural population
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer


List of Tables

Table 1: Insurance Industry Definitions
Table 2: Ecuadorian Insurance - Overall Written Premium by Segment (US$ Million), 2008-2012
Table 3: Ecuadorian Insurance - Overall Written Premium by Segment (US$ Million), 2012-2017
Table 4: Ecuadorian Insurance - Segmentation (% Share), 2008-2017
Table 5: Ecuadorian Life Insurance - Written Premium (US$ Million), 2008-2012
Table 6: Ecuadorian Life Insurance - Written Premium (US$ Million), 2012-2017
Table 7: Ecuadorian Life Insurance - Paid Claims (US$ Million), 2008-2012
Table 8: Ecuadorian Life Insurance - Paid Claims (US$ Million), 2012-2017
Table 9: Ecuadorian Life Insurance - Incurred Loss (US$ Million), 2008-2012
Table 10: Ecuadorian Life Insurance - Incurred Loss (US$ Million), 2012-2017
Table 11: Ecuadorian Life Insurance - Loss Ratio (%), 2008-2012
Table 12: Ecuadorian Life Insurance - Loss Ratio (%), 2012-2017
Table 13: Ecuadorian Life Insurance - Combined Ratio (%), 2008-2012
Table 14: Ecuadorian Life Insurance - Combined Ratio (%), 2012-2017
Table 15: Ecuadorian Life Insurance - Total Assets (US$ Million), 2008-2012
Table 16: Ecuadorian Life Insurance - Total Assets (US$ Million), 2012-2017
Table 17: Ecuadorian Life Insurance - Total Investment Income (US$ Million), 2008-2012
Table 18: Ecuadorian Life Insurance - Total Investment Income (US$ Million), 2012-2017
Table 19: Ecuadorian Life Insurance - Retentions (US$ Million), 2008-2012
Table 20: Ecuadorian Life Insurance - Retentions (US$ Million), 2012-2017
Table 21: Ecuadorian Individual Life Insurance - Written Premium (US$ Million), 2008-2012
Table 22: Ecuadorian Individual Life Insurance - Written Premium (US$ Million), 2012-2017
Table 23: Ecuadorian Individual Single-Premium - Written Premium (US$ Million), 2008-2012
Table 24: Ecuadorian Individual Single-Premium - Written Premium (US$ Million), 2012-2017
Table 25: Ecuadorian Individual Non-Single-Premium - Written Premium (US$ Million), 2008-2012
Table 26: Ecuadorian Individual Non-Single-Premium - Written Premium (US$ Million), 2012-2017
Table 27: Ecuadorian Group Single-Premium - Written Premium (US$ Million), 2008-2012
Table 28: Ecuadorian Group Single-Premium - Written Premium (US$ Million), 2012-2017
Table 29: Ecuadorian Group Non-Single-Premium - Written Premium (US$ Million), 2008-2012
Table 30: Ecuadorian Group Non-Single-Premium - Written Premium (US$ Million), 2012-2017
Table 31: Ecuadorian Non-Life Insurance - Written Premium by Category (US$ Million), 2008-2012
Table 32: Ecuadorian Non-Life Insurance - Written Premium by Category (US$ Million), 2012-2017
Table 33: Ecuadorian Non-Life Insurance - Paid Claims (US$ Million), 2008-2012
Table 34: Ecuadorian Non-Life Insurance - Paid Claims (US$ Million), 2012-2017
Table 35: Ecuadorian Non-Life Insurance - Incurred Loss (US$ Million), 2008-2012
Table 36: Ecuadorian Non-Life Insurance - Incurred Loss (US$ Million), 2012-2017
Table 37: Ecuadorian Non-Life Insurance - Loss Ratio (%), 2008-2012
Table 38: Ecuadorian Non-Life Insurance - Loss Ratio (%), 2012-2017
Table 39: Ecuadorian Non-Life Insurance - Combined Ratio (%), 2008-2012
Table 40: Ecuadorian Non-Life Insurance - Combined Ratio (%), 2012-2017
Table 41: Ecuadorian Non-Life Insurance - Total Assets (US$ Million), 2008-2012
Table 42: Ecuadorian Non-Life Insurance - Total Assets (US$ Million), 2012-2017
Table 43: Ecuadorian Non-Life Insurance - Total Investment Income (US$ Million), 2008-2012
Table 44: Ecuadorian Non-Life Insurance - Total Investment Income (US$ Million), 2012-2017
Table 45: Ecuadorian Non-Life Insurance - Retentions (US$ Million), 2008-2012
Table 46: Ecuadorian Non-Life Insurance - Retentions (US$ Million), 2012-2017
Table 47: Ecuadorian Property Insurance - Written Premium (US$ Million), 2008-2012
Table 48: Ecuadorian Property Insurance - Written Premium (US$ Million), 2012-2017
Table 49: Ecuadorian Motor Insurance - Written Premium (US$ Million), 2008-2012
Table 50: Ecuadorian Motor Insurance - Written Premium (US$ Million), 2012-2017
Table 51: Ecuadorian Liability Insurance - Written Premium (US$ Million), 2008-2012
Table 52: Ecuadorian Liability Insurance - Written Premium (US$ Million), 2012-2017
Table 53: Ecuadorian Marine, Aviation and Transit Insurance - Written Premium (US$ Million), 2008-2012
Table 54: Ecuadorian Marine, Aviation and Transit Insurance - Written Premium (US$ Million), 2012-2017
Table 55: Ecuadorian Personal Accident and Health Insurance - Written Premium by Category (US$ Million), 2008-2012
Table 56: Ecuadorian Personal Accident and Health Insurance - Written Premium by Category (US$ Million), 2012-2017
Table 57: Ecuadorian Personal Accident and Health Insurance - Paid Claims (US$ Million), 2008-2012
Table 58: Ecuadorian Personal Accident and Health Insurance - Paid Claims (US$ Million), 2012-2017
Table 59: Ecuadorian Personal Accident and Health Insurance - Incurred Loss (US$ Million), 2008-2012
Table 60: Ecuadorian Personal Accident and Health Insurance - Incurred Loss (US$ Million), 2012-2017
Table 61: Ecuadorian Personal Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 62: Ecuadorian Personal Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 63: Ecuadorian Personal Accident and Health Insurance - Combined Ratio (%), 2008-2012
Table 64: Ecuadorian Personal Accident and Health Insurance - Combined Ratio (%), 2012-2017
Table 65: Ecuadorian Personal Accident and Health Insurance - Total Assets (US$ Million), 2008-2012
Table 66: Ecuadorian Personal Accident and Health Insurance - Total Assets (US$ Million), 2012-2017
Table 67: Ecuadorian Personal Accident and Health Insurance - Total Investment Income (US$ Million), 2008-2012
Table 68: Ecuadorian Personal Accident and Health Insurance - Total Investment Income (US$ Million), 2012-2017
Table 69: Ecuadorian Personal Accident and Health Insurance - Retentions (US$ Million), 2008-2012
Table 70: Ecuadorian Personal Accident and Health Insurance - Retentions (US$ Million), 2012-2017
Table 71: Ecuadorian Personal Accident Insurance - Written Premium (US$ Million), 2008-2012
Table 72: Ecuadorian Personal Accident Insurance - Written Premium (US$ Million), 2012-2017
Table 73: Ecuadorian Health Insurance - Written Premium (US$ Million), 2008-2012
Table 74: Ecuadorian Health Insurance - Written Premium (US$ Million), 2012-2017
Table 75: Ecuadorian Reinsurance by Category (US$ Million), 2008-2012
Table 76: Ecuadorian Reinsurance by Category (US$ Million), 2012-2017
Table 77: Ecuadorian Reinsurance Ceded by Insurance Segment (US$ Million), 2008-2012
Table 78: Ecuadorian Reinsurance Ceded by Insurance Segment (US$ Million), 2012-2017
Table 79: Ecuadorian Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 80: Ecuadorian Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 81: Ecuadorian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 82: Ecuadorian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 83: Ecuadorian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 84: Ecuadorian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 85: Ecuador - Life Insurance Regulatory Framework
Table 86: Ecuador - Property Insurance Regulatory Framework
Table 87: Ecuador - Motor Insurance Regulatory Framework
Table 88: Ecuador - Compensation Provided by the Insurer in the Event of Accident
Table 89: Ecuador - List of Companies Authorized to Offer SOAT
Table 90: Ecuador - Aviation Insurance Coverage
Table 91: Ecuador - Ratings Required for Registration of Reinsurance Business
Table 92: Ecuador - Minimum Capital Requirements (UVC and US$)
Table 93: Ecuador - Minimum Capital Requirements (US$)
Table 94: Ecuador - Taxes and Charges Levied on Insurance Premium
Table 95: Ecuador - Issuing Fees Charged to the Insured by Insurer Based on Value of Premiums
Table 96: Ecuador - Corporate Tax Rates in Ecuador for the Financial Year 2012-2013
Table 97: Ecuadorian Insurance Industry - Market Shares by Net Premium, 2012
Table 98: QBE - Seguros Colonial, Main Products
Table 99: QBE - Seguros Colonial, Key Employees
Table 100: ACE Seguros S.A., Main Products


List of Figures
Figure 1: Ecuadorian Insurance - Overall Written Premium by Segment (US$ Million), 2008-2017
Figure 2: Ecuadorian Insurance - Dynamics by Segment (%), 2008-2017
Figure 3: Ecuadorian Life Insurance - Written Premium (US$ Million), 2008-2012
Figure 4: Ecuadorian Life Insurance - Written Premium (US$ Million), 2012-2017
Figure 5: Ecuadorian Life Insurance - Paid Claims (US$ Million), 2008-2012
Figure 6: Ecuadorian Life Insurance - Paid Claims (US$ Million), 2012-2017
Figure 7: Ecuadorian Life Insurance - Incurred Loss (US$ Million), 2008-2012
Figure 8: Ecuadorian Life Insurance - Incurred Loss (US$ Million), 2012-2017
Figure 9: Ecuadorian Life Insurance - Loss Ratio (%), 2008-2012
Figure 10: Ecuadorian Life Insurance - Loss Ratio (%), 2012-2017
Figure 11: Ecuadorian Life Insurance - Combined Ratio (%), 2008-2012
Figure 12: Ecuadorian Life Insurance - Combined Ratio (%), 2012-2017
Figure 13: Ecuadorian Life Insurance - Total Assets (US$ Million), 2008-2012
Figure 14: Ecuadorian Life Insurance - Total Assets (US$ Million), 2012-2017
Figure 15: Ecuadorian Life Insurance - Total Investment Income (US$ Million), 2008-2012
Figure 16: Ecuadorian Life Insurance - Total Investment Income (US$ Million), 2012-2017
Figure 17: Ecuadorian Life Insurance - Retentions (US$ Million), 2008-2012
Figure 18: Ecuadorian Life Insurance - Retentions (US$ Million), 2012-2017
Figure 19: Ecuadorian Life Insurance - Penetration (%), 2008-2012
Figure 20: Ecuadorian Life Insurance - Premium per Capita (US$), 2008-2012
Figure 21: Ecuadorian Individual Life Insurance - Written Premium (US$ Million), 2008-2012
Figure 22: Ecuadorian Individual Life Insurance - Written Premium (US$ Million), 2012-2017
Figure 23: Ecuadorian Individual Single-Premium - Written Premium (US$ Million), 2008-2012
Figure 24: Ecuadorian Individual Single-Premium - Written Premium (US$ Million), 2012-2017
Figure 25: Ecuadorian Individual Non-Single-Premium - Written Premium (US$ Million), 2008-2012
Figure 26: Ecuadorian Individual Non-Single-Premium - Written Premium (US$ Million), 2012-2017
Figure 27: Ecuadorian Group Single-Premium - Written Premium (US$ Million), 2008-2012
Figure 28: Ecuadorian Group Single-Premium - Written Premium (US$ Million), 2012-2017
Figure 29: Ecuadorian Group Non-Single-Premium - Written Premium (US$ Million), 2008-2012
Figure 30: Ecuadorian Group Non-Single-Premium - Written Premium (US$ Million), 2012-2017
Figure 31: Ecuadorian Non-Life Insurance - Written Premium by Category (US$ Million), 2008-2017
Figure 32: Ecuadorian Non-Life Insurance - Written Premium by Category (%), 2012 and 2017
Figure 33: Ecuadorian Non-Life Insurance - Dynamics by Category (%), 2008-2017
Figure 34: Ecuadorian Non-Life Insurance - Paid Claims (US$ Million), 2008-2012
Figure 35: Ecuadorian Non-Life Insurance - Paid Claims (US$ Million), 2012-2017
Figure 36: Ecuadorian Non-Life Insurance - Incurred Loss (US$ Million), 2008-2012
Figure 37: Ecuadorian Non-Life Insurance - Incurred Loss (US$ Million), 2012-2017
Figure 38: Ecuadorian Non-Life Insurance - Loss Ratio (%), 2008-2012
Figure 39: Ecuadorian Non-Life Insurance - Loss Ratio (%), 2012-2017
Figure 40: Ecuadorian Non-Life Insurance - Combined Ratio (%), 2008-2012
Figure 41: Ecuadorian Non-Life Insurance - Combined Ratio (%), 2012-2017
Figure 42: Ecuadorian Non-Life Insurance - Total Assets (US$ Million), 2008-2012
Figure 43: Ecuadorian Non-Life Insurance - Total Assets (US$ Million), 2012-2017
Figure 44: Ecuadorian Non-Life Insurance - Total Investment Income (US$ Million), 2008-2012
Figure 45: Ecuadorian Non-Life Insurance - Total Investment Income (US$ Million), 2012-2017
Figure 46: Ecuadorian Non-Life Insurance - Retentions (US$ Million), 2008-2012
Figure 47: Ecuadorian Non-Life Insurance - Retentions (US$ Billion), 2012-2017
Figure 48: Ecuadorian Non-Life Insurance - Penetration (%), 2008-2012
Figure 49: Ecuadorian Non-Life Insurance - Premium per Capita (US$), 2008-2012
Figure 50: Ecuadorian Property Insurance - Written Premium (US$ Million), 2008-2012
Figure 51: Ecuadorian Property Insurance - Written Premium (US$ Million), 2012-2017
Figure 52: Ecuadorian Motor Insurance - Written Premium (US$ Million), 2008-2012
Figure 53: Ecuadorian Motor Insurance - Written Premium (US$ Million), 2012-2017
Figure 54: Ecuadorian Liability Insurance - Written Premium (US$ Million), 2008-2012
Figure 55: Ecuadorian Liability Insurance - Written Premium (US$ Million), 2012-2017
Figure 56: Ecuadorian Marine, Aviation and Transit Insurance - Written Premium (US$ Million), 2008-2012
Figure 57: Ecuadorian Marine, Aviation and Transit Insurance - Written Premium (US$ Million), 2012-2017
Figure 58: Ecuadorian Personal Accident and Health Insurance - Written Premium by Category (US$ Million), 2008-2017
Figure 59: Ecuadorian Personal Accident and Health Insurance - Written Premium by Category (%), 2012 and 2017
Figure 60: Ecuadorian Personal Accident and Health Insurance - Dynamics by Category (%), 2008-2017
Figure 61: Ecuadorian Personal Accident and Health Insurance - Paid Claims (US$ Million), 2008-2012
Figure 62: Ecuadorian Personal Accident and Health Insurance - Paid Claims (US$ Million), 2012-2017
Figure 63: Ecuadorian Personal Accident and Health Insurance - Incurred Loss (US$ Million), 2008-2012
Figure 64: Ecuadorian Personal Accident and Health Insurance - Incurred Loss (US$ Million), 2012-2017
Figure 65: Ecuadorian Personal Accident and Health Insurance - Loss Ratio (%), 2008-2012
Figure 66: Ecuadorian Personal Accident and Health Insurance - Loss Ratio (%), 2012-2017
Figure 67: Ecuadorian Personal Accident and Health Insurance - Combined Ratio (%), 2008-2012
Figure 68: Ecuadorian Personal Accident and Health Insurance - Combined Ratio (%), 2012-2017
Figure 69: Ecuadorian Personal Accident and Health Insurance - Total Assets (US$ Million), 2008-2012
Figure 70: Ecuadorian Personal Accident and Health Insurance - Total Assets (US$ Million), 2012-2017
Figure 71: Ecuadorian Personal Accident and Health Insurance - Total Investment Income (US$ Million), 2008-2012
Figure 72: Ecuadorian Personal Accident and Health Insurance - Total Investment Income (US$ Million), 2012-2017
Figure 73: Ecuadorian Personal Accident and Health Insurance - Retentions (US$ Million), 2008-2012
Figure 74: Ecuadorian Personal Accident and Health Insurance - Retentions (US$ Million), 2012-2017
Figure 75: Ecuadorian Personal Accident and Health Insurance - Penetration (%), 2008-2012
Figure 76: Ecuadorian Personal Accident and Health Insurance - Premium per Capita (US$), 2008-2012
Figure 77: Ecuadorian Personal Accident Insurance - Written Premium (US$ Million), 2008-2012
Figure 78: Ecuadorian Personal Accident Insurance - Written Premium (US$ Million), 2012-2017
Figure 79: Ecuadorian Health Insurance - Written Premium (US$ Million), 2008-2012
Figure 80: Ecuadorian Health Insurance - Written Premium (US$ Million), 2012-2017
Figure 81: Ecuadorian Reinsurance by Category (US$ Million), 2008-2017
Figure 82: Ecuadorian Reinsurance by Category (% Share), 2012 and 2017
Figure 83: Ecuadorian Reinsurance - Dynamics by Category (%), 2008-2017
Figure 84: Ecuadorian Reinsurance Ceded by Insurance Segment (US$ Million), 2008-2017
Figure 85: Ecuadorian Reinsurance - Dynamics by Insurance Segment (%), 2008-2017
Figure 86: Ecuadorian Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 87: Ecuadorian Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 88: Ecuadorian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 89: Ecuadorian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 90: Ecuadorian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 91: Ecuadorian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 92: Ecuador - Insurance Regulatory Framework
Figure 93: Ecuador - Insurance Supervision and Control at Various Levels
Figure 94: Ecuador - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 95: Ecuador - Judiciary System
Figure 96: Ecuadorian Insurance Industry - Market Shares by Net Premium, 2012
Figure 97: Ecuadorian Stock Exchange Market Capitalization (US$ Billion), 2008-2012
Figure 98: Ecuadorian GDP at Constant Prices (US$ Billion), 2008-2012
Figure 99: Ecuadorian GDP per Capita at Constant Prices (US$), 2008-2012
Figure 100: Ecuadorian GDP at Current Prices (US$ Billion), 2008-2012

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