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Synopsis
Timetric’s 'Life Insurance in Uruguay Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Uruguayan life insurance segment, and a comparison of the Uruguayan insurance industry with its regional counterparts.

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 (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Uruguayan 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 'Life Insurance in Uruguay Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Uruguayan life insurance segment, including:

- An overview of the Uruguayan life insurance segment

- The Uruguayan life insurance segment’s growth prospects by category

- A comprehensive overview of the Uruguayan economy and demographics

- A comparison of the Uruguayan life insurance segment with its regional counterparts

- The various distribution channels in the Uruguayan life insurance segment

- Details of the competitive landscape in the life insurance segment in Uruguay

- Details of regulatory policy applicable to the Uruguayan insurance industry

Scope
This report provides a comprehensive analysis of the life insurance segment in Uruguay:

- It provides historical values for the Uruguayan life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Uruguayan life insurance segment, and market forecasts to 2020.

- It provides a comparison of the Uruguayan life insurance segment with its regional counterparts

- It analyzes the various distribution channels for life insurance products in Uruguay.

- It profiles the top life insurance companies in Uruguay 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 Uruguayan life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Uruguayan life insurance segment.

- Assess the competitive dynamics in the life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

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

Key Highlights
- As of 2015, nine companies conducted life insurance business in the country.

- Uruguay permits 100.0% foreign direct investment (FDI) in its insurance industry.

- The Uruguayan life insurance segment is highly concentrated, with the three leading insurers accounting for 93.0% of the segment’s gross written premium in 2015.

Table Of Contents

Life Insurance in Uruguay, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Assets and investments
5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Penetration
6 Distribution Channel Outlook
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Banco de Seguros del Estado - company overview
7.1.2 MetLife Seguros SA - company overview
7.1.3 Mapfre La Uruguaya SA - company overview
7.1.4 Compañia Cooperativa de Seguros Surco - company overview
7.1.5 Zurich Santander Seguros Uruguay SA - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Workers' compensation insurance
8.4.2 Motor third-party liability insurance
8.4.3 Liability for ships with respect to oil pollution
8.4.4 Aviation liability insurance
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Association of Insurance Supervisors Latin America
8.5.3 Superintendence of Insurance and Reinsurance
8.5.4 Asociación Uruguaya de Empresas Aseguradoras
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxations
8.8.2 Withholding taxes on premium paid overseas.
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Individual Life Insurance
9.5 Individual Life Insurance by Product
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer


List of Tables
Table 1: Uruguayan Life Insurance - Key Facts, 2015
Table 2: Uruguayan Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Uruguay Government Credit Ratings
Table 4: Uruguayan Life Insurance - Gross Written Premium (UYU Billion and US$ Million), 2011-2015
Table 5: Uruguayan Life Insurance - Penetration (%), 2011-2015
Table 6: Uruguayan Life Insurance - Gross Written Premium (UYU Billion and US$ Million), 2015-2020
Table 7: Uruguayan Life Insurance - Penetration (%), 2015-2020
Table 8: Uruguayan Life Insurance - Premium per Capita (UYU and US$), 2011-2015
Table 9: Uruguayan Life Insurance - Premium per Capita (UYU and US$), 2015-2020
Table 10: Uruguayan Life Insurance - Paid Claims (UYU Billion and US$ Million), 2011-2015
Table 11: Uruguayan Life Insurance - Paid Claims (UYU Billion and US$ Million), 2015-2020
Table 12: Uruguayan Life Insurance - Total Assets (UYU Billion and US$ Billion), 2011-2015
Table 13: Uruguayan Life Insurance - Total Assets (UYU Billion and US$ Billion), 2015-2020
Table 14: Uruguayan Life Insurance - Investment Portfolio (UYU Billion), 2011-2015
Table 15: Uruguayan Life Insurance - Investment Portfolio (UYU Billion), 2015-2020
Table 16: Uruguayan Individual Life Insurance - Direct Written Premium by Category (UYU Billion), 2011-2015
Table 17: Uruguayan Individual Life Insurance - Direct Written Premium by Category (UYU Billion), 2015-2020
Table 18: Uruguayan Life Segment - Market Shares of Leading Insurers (%), 2014
Table 19: Banco de Seguros del Estado - Key Facts
Table 20: Banco de Seguros del Estado - Key Financials (UYU Billion), 2011-2015
Table 21: MetLife Seguros SA - Key Facts
Table 22: MetLife Seguros SA - Key Financials (UYU Million), 2011-2015
Table 23: Mapfre La Uruguaya SA - Key Facts
Table 24: Mapfre La Uruguaya SA - Key Financials (UYU Million), 2011-2015
Table 25: Compañia Cooperativa de Seguros Surco - Key Facts
Table 26: Compañia Cooperativa de Seguros Surco - Key Financials (UYU Million), 2011-2015
Table 27: Zurich Santander Seguros Uruguay SA - Key Facts
Table 28: Zurich Santander Seguros Uruguay SA - Key Financials (UYU Million), 2011-2015
Table 29: Uruguay - Insurance Regulatory Framework Key Features
Table 30: Uruguay - Life Insurance Regulatory Framework
Table 31: Uruguay - Property Insurance Regulatory Framework
Table 32: Uruguay - Motor Insurance Regulatory Framework
Table 33: Uruguay - Liability Insurance Regulatory Framework
Table 34: Uruguay - Insurance Premium Tax Rates
Table 35: Uruguay - Corporate Tax Rates for the Financial Year 2016
Table 36: Uruguayan Life Insurance - Policies and Premium, 2011-2015
Table 37: Uruguayan Life Insurance - Policies and Premium, 2015-2020
Table 38: Uruguayan Life Insurance - Claims and Expenses, 2011-2015
Table 39: Uruguayan Life Insurance - Claims and Expenses, 2015-2020
Table 40: Uruguayan Life Insurance - Assets and Investments, 2011-2015
Table 41: Uruguayan Life Insurance - Assets and Investments, 2015-2020
Table 42: Uruguayan Life Insurance - Individual Life Insurance, 2011-2015
Table 43: Uruguayan Life Insurance - Individual Life Insurance, 2015-2020
Table 44: Uruguayan Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 45: Uruguayan Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 46: Insurance Industry Definitions


List of Figures
Figure 1: Uruguayan Real GDP (UYU Billion), 2011-2020
Figure 2: Uruguayan Inflation Rate (%), 2011-2020
Figure 3: Uruguayan UYU-US$ Exchange Rate, 2011-2020
Figure 4: Uruguayan Current Account Balance (Percentage of GDP), 2011-2020
Figure 5: Uruguayan Unemployment Rate (%), 2011-2020
Figure 6: Uruguayan Population by Age Group (Million), 1990-2025
Figure 7: Uruguayan Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Uruguayan Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Uruguayan Life Insurance - Gross Written Premium (UYU Billion), 2011-2020
Figure 10: Uruguayan Life Insurance - Penetration (%), 2011-2020
Figure 11: Uruguayan Life Insurance - Premium per Capita (UYU), 2011-2020
Figure 12: Uruguayan Life Insurance - Paid Claims (UYU Billion), 2011-2020
Figure 13: Uruguayan Life Insurance - Total Assets (UYU Billion), 2011-2020
Figure 14: Uruguayan Life Insurance - Investment Portfolio (UYU Billion), 2011-2020
Figure 15: Uruguayan Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 16: Uruguayan Individual Life Insurance - Direct Written Premium by Category (UYU Billion), 2011-2020
Figure 17: Uruguayan Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 18: Uruguayan Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 19: Uruguayan Individual Life Insurance - Penetration (%), 2011-2015
Figure 20: Uruguayan Individual Life Insurance - Penetration (%), 2015-2020
Figure 21: Uruguayan Life Segment - Market Shares of Leading Insurers (%), 2014
Figure 22: Uruguay - Insurance Supervision and Control at Various Levels
Figure 23: Uruguay - Insurance Regulatory Frameworks for Company Registration and Operation

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