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The Insurance Industry in Puerto Rico, Key Trends and Opportunities to 2019

  • May 2016
  • -
  • Timetric
  • -
  • 119 pages

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Synopsis
Timetric’s 'The Insurance Industry in Puerto Rico, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Puerto Rican insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Puerto Rican economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'The Insurance Industry in Puerto Rico, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Puerto Rican insurance industry, including:

- The Puerto Rican insurance industry's growth prospects by segment and category

- A comprehensive overview of the Puerto Rican economy and demographics

- The detailed competitive landscape in the Puerto Rican insurance industry

- An overview of distribution channels in the Puerto Rican insurance industry

- Details of regulatory policy applicable to the Puerto Rican insurance industry

- Analysis of natural hazards in Puerto Rico

Scope
This report provides a comprehensive analysis of the insurance industry in Puerto Rico:

- It provides historical values for the Puerto Rican insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key segments in the Puerto Rican insurance industry, with market forecasts to 2019.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

- It analyzes the various distribution channels in Puerto Rico.

- It profiles the top insurance companies in Puerto Rico and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Puerto Rican insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Puerto Rican insurance industry.

- Assess the competitive dynamics in the Puerto Rican insurance industry.

- Identify growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Puerto Rican insurance industry and their impact on companies and the industry's future.

Key Highlights
- The unfavorable economic environment and lack of job opportunities have increased emigration from Puerto Rico.

- The life segment recorded a review-period CAGR of 11.5%, whereas the non-life segment recorded a CAGR of 0.2%.

- Rises in the aging population and life expectancy supported the segment’s growth during the review period. However, the shrinking population and increasing emigration limited life insurance’s review-period growth.

- Property insurance, in terms of direct written premium, led the segment during the review period. The category’s direct written premium is expected to grow over the forecast period, primarily as a result of rising construction activities and government expenditure on infrastructure projects.

- The Puerto Rican construction sector grew during the review period, driven by government and private investment in infrastructure projects.

- Health insurance was the largest category, accounting for 99.7% of the segment’s gross written premium in 2014.

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