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Synopsis
Timetric’s 'Personal Accident and Health Insurance in Ecuador, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Ecuadorian personal accident and health insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio,

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 Ecuadorian 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 regulatory structure.

Summary
Timetric’s 'Personal Accident and Health Insurance in Ecuador, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Ecuadorian personal accident and health insurance segment, including:

- The Ecuadorian personal accident and health insurance segment’s growth prospects by insurance category

- Key trends, drivers and challenges for the personal accident and health insurance segment

- A comprehensive overview of the Ecuadorian economy and demographics

- Details of the competitive landscape in the personal accident and health insurance segment in Ecuador

- Details of regulatory policy applicable to the Ecuadorian insurance industry

Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Ecuador:

- It provides historical values for the Ecuadorian personal accident and health insurance segment 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 categories in the Ecuadorian personal accident and health insurance segment, along with market forecasts until 2019.

- It profiles the top personal accident and health insurance companies in Ecuador, 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 Ecuadorian personal accident and health insurance segment and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Ecuadorian personal accident and health insurance segment.

- Assess the competitive dynamics in the personal accident and health insurance segment.

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

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

Key Highlights
- The Ecuadorian personal and health segment posted a review-period CAGR of 10.9%.

- This expansion can be contributed to rising healthcare expenditure, large-scale government awareness programs for health insurance, and an increasing number of accidents.

- The personal accident category dominated the segment, with a 62.1% share of its gross written premium in 2014.

- Health insurance was one of the segment’s fastest-growing categories, with a review-period CAGR of 25.2%.

- Stable economic development to drive growth in the personal accident and health segment.

- The Ecuadorian personal accident and health segment is highly concentrated, with the 10 leading companies accounting for 92.6% of the total gross written premium generated in 2014.

Table Of Contents

Personal Accident and Health Insurance in Ecuador, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Economy and Demographics
5 Personal Accident and Health Insurance Segment Outlook
5.1 Key Drivers
5.2 Key Trends
5.3 Challenges
5.4 Personal Accident and Health Insurance Growth Prospects by Category
5.4.1 Personal accident insurance
5.4.2 Non-Life Health insurance
6 Analysis by Distribution Channel
7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Leading Companies in the Ecuadorian Personal Accident and Health Insurance Segment
7.2.1 ACE Seguros SA - company overview
7.2.2 Pan American Life Insurance - Company Overview
7.2.3 QBE Seguros Colonial SA - Company Overview
7.2.4 Equivida SA - Company Overview
7.2.5 AIG Metropolitana Cia. de Seguros y Reaseguros SA - Company Overview
7.2.6 Bupa Ecuador SA - Company Overview
7.2.7 Seguros del Pichincha SA - Company Overview
7.2.8 Seguros Sucre SA - Company Overview
7.2.9 Mapfre Atlas Compañía de Seguros SA - Company Overview
7.2.10 BMI Financial Group Inc. - Company Overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulations
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 Traffic accident insurance (SOAT)
8.4.2 General insurance under the Social Security Act
8.4.3 Aviation 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 Superintendency of Banks and Insurance
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 Types 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 margins
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 taxation
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 (ADR)
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables
Table 1: Ecuadorian Personal Accident and Health Insurance - Key Facts, 2014
Table 2: Insurance Industry Definitions
Table 3: Ecuadorian Government Credit Ratings
Table 4: Ecuadorian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 5: Ecuadorian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 6: Ecuadorian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
Table 7: Ecuadorian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
Table 8: Ecuadorian Personal Accident and Health Insurance - Net Earned Premium (US$ Million), 2010-2014
Table 9: Ecuadorian Personal Accident and Health Insurance - Net Earned Premium (US$ Million), 2014-2019
Table 10: Ecuadorian Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2010-2014
Table 11: Ecuadorian Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2014-2019
Table 12: Ecuadorian Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2010-2014
Table 13: Ecuadorian Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2014-2019
Table 14: Ecuadorian Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2010-2014
Table 15: Ecuadorian Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2014-2019
Table 16: Ecuadorian Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Table 17: Ecuadorian Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Table 18: Ecuadorian Personal Accident and Health Insurance - Commission and Expenses (US$ Million), 2010-2014
Table 19: Ecuadorian Personal Accident and Health Insurance - Commission and Expenses (US$ Million), 2014-2019
Table 20: Ecuadorian Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
Table 21: Ecuadorian Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
Table 22: Ecuadorian Personal Accident and Health Insurance - Total Assets (US$ Million), 2010-2014
Table 23: Ecuadorian Personal Accident and Health Insurance - Total Assets (US$ Million), 2014-2019
Table 24: Ecuadorian Personal Accident and Health Insurance - Total Investment Income (US$ Million), 2010-2014
Table 25: Ecuadorian Personal Accident and Health Insurance - Total Investment Income (US$ Million), 2014-2019
Table 26: Ecuadorian Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2010-2014
Table 27: Ecuadorian Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2014-2019
Table 28: Ecuadorian Personal Accident Insurance - Direct Written Premium (US$ Million), 2010-2014
Table 29: Ecuadorian Personal Accident Insurance - Direct Written Premium (US$ Million), 2014-2019
Table 30: Ecuadorian Personal Accident Insurance - Loss Ratio (%), 2010-2014
Table 31: Ecuadorian Personal Accident Insurance - Loss Ratio (%), 2014-2019
Table 32: Ecuadorian Non-Life Health Insurance - Gross Written Premium (US$ Million), 2010-2014
Table 33: Ecuadorian Non-Life Health Insurance - Gross Written Premium (US$ Million), 2014-2019
Table 34: Ecuadorian Non-Life Health Insurance - Direct Written Premium (US$ Million), 2010-2014
Table 35: Ecuadorian Non-Life Health Insurance - Direct Written Premium (US$ Million), 2014-2019
Table 36: Ecuadorian Non-Life Health Insurance - Paid Claims (US$ Million), 2010-2014
Table 37: Ecuadorian Non-Life Health Insurance - Paid Claims (US$ Million), 2014-2019
Table 38: Ecuadorian Non-Life Health Insurance - Loss Ratio (%), 2010-2014
Table 39: Ecuadorian Non-Life Health Insurance - Loss Ratio (%), 2014-2019
Table 40: Ecuadorian Non-Life Health Insurance - Net Written Premium (US$ Million), 2010-2014
Table 41: Ecuadorian Non-Life Health Insurance - Net Written Premium (US$ Million), 2014-2019
Table 42: Ecuadorian Personal Accident and Health Insurance - Number of Banking Entities, 2010-2014
Table 43: Ecuadorian Personal Accident and Health Insurance - Number of Banking Entities, 2014-2019
Table 44: Ecuadorian Personal Accident and Health Insurance - Number of Insurance Agents, 2010-2014
Table 45: Ecuadorian Personal Accident and Health Insurance - Number of Insurance Agents, 2014-2019
Table 46 Ecuadorian Personal Accident and Health Insurance - Shares of Key Insurers (%), 2014
Table 47: ACE Seguros SA - Key Facts
Table 48: ACE Seguros SA - Key Financials (US$ Million), 2010-2014
Table 49: Pan American Life Insurance - Key Facts
Table 50: Pan American Life Insurance - Key Financials (US$ Million), 2010-2014
Table 51: QBE Seguros Colonial SA - Key Facts
Table 52: QBE Seguros Colonial SA - Key Financials (US$ Million), 2010-2014
Table 53: Equivida SA - Key Facts
Table 54: Equivida SA - Key Financials (US$ Million), 2010-2014
Table 55: AIG Metropolitana Cia. de Seguros y Reaseguros SA - Key Facts
Table 56: AIG Metropolitana Cia. de Seguros y Reaseguros SA - Key Financials (US$ Million), 2010-2014
Table 57: Bupa Ecuador SA - Key Facts
Table 58: Seguros del Pichincha SA - Key Facts
Table 59: Seguros del Pichincha SA - Key Financials (US$ Million), 2010-2014
Table 60: Seguros Sucre SA - Key Facts
Table 61: Seguros Sucre SA - Key Financials (US$ Million), 2010-2014
Table 62: Mapfre Atlas Compania De Seguros SA - Key Facts
Table 63: Mapfre Atlas Compania De Seguros SA - Key Financials (US$ Million), 2010-2014
Table 64: BMI Financial Group Inc. - Key Facts
Table 65: BMI Financial Group Inc. - Key Financials (US$ Million), 2010-2014
Table 66: Ecuador - Insurance Regulatory Framework Key Features
Table 67: Ecuador - Life Insurance Regulatory Framework
Table 68: Ecuador - Property Insurance Regulatory Framework
Table 69: Ecuador - Motor Insurance Regulatory Framework
Table 70: Ecuador - Liability Insurance Regulatory Framework
Table 71: Ecuador - Compensation Provided by the Insurer in the Event of Accident
Table 72: Ecuador - List of Companies Authorized to Offer SOAT
Table 73: Ecuador - Aviation Insurance Cover
Table 74: Ecuador - Ratings Required for Registration of Reinsurance Business
Table 75: Ecuador - Taxes and Charges Levied on Insurance Premiums
Table 76: Ecuador - Issuing Fees Charged to the Insured by Insurer Based on Value of Premiums
Table 77: Ecuador - Corporate Tax Rates in Ecuador for the Financial Year 2015

List of Figures
Figure 1: Ecuadorian Real GDP (US$ Billion), 2010-2019
Figure 2: Ecuadorian Consumer Price Inflation, 2010-2019
Figure 3: Ecuadorian Current Account Balance as Percentage of GDP (%), 2010-2019
Figure 4: Ecuadorian Unemployment Rate, 2010-2019
Figure 5: Ecuadorian Population by Age Group, 1990-2025
Figure 6: Ecuadorian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2019
Figure 7: Ecuadorian Personal Accident and Health Insurance - Gross Written Premium by Category (% Share), 2014 and 2019
Figure 8: Ecuadorian Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 9: Ecuadorian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2019
Figure 10: Ecuadorian Personal Accident and Health Insurance - Direct Written Premium by Category (% Share), 2014 and 2019
Figure 11: Ecuadorian Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 12: Ecuadorian Personal Accident and Health Insurance - Net Earned Premium (US$ Million), 2010-2014
Figure 13: Ecuadorian Personal Accident and Health Insurance - Net Earned Premium (US$ Million), 2014-2019
Figure 14: Ecuadorian Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2010-2019
Figure 15: Ecuadorian Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2010-2019
Figure 16: Ecuadorian Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2010-2019
Figure 17: Ecuadorian Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Figure 18: Ecuadorian Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Figure 19: Ecuadorian Personal Accident and Health Insurance - Commission and Expenses (US$ Million), 2010-2014
Figure 20: Ecuadorian Personal Accident and Health Insurance - Commission and Expenses (US$ Million), 2014-2019
Figure 21: Ecuadorian Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
Figure 22: Ecuadorian Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
Figure 23: Ecuadorian Personal Accident and Health Insurance - Total Assets (US$ Million), 2010-2014
Figure 24: Ecuadorian Personal Accident and Health Insurance - Total Assets (US$ Million), 2014-2019
Figure 25: Ecuadorian Personal Accident and Health Insurance - Total Investment Income (US$ Million), 2010-2014
Figure 26: Ecuadorian Personal Accident and Health Insurance - Total Investment Income (US$ Million), 2014-2019
Figure 27: Ecuadorian Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2010-2014
Figure 28: Ecuadorian Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2014-2019
Figure 29: Ecuadorian Personal Accident and Health Insurance - Investment Portfolio (US$ Million), 2010-2014
Figure 30: Ecuadorian Personal Accident and Health Insurance - Investment Portfolio (% Share), 2010 and 2014
Figure 31: Ecuadorian Personal Accident and Health Insurance Penetration (Ratio of Direct Premiums to GDP), 2010-2014
Figure 32: Ecuadorian Personal Accident and Health Insurance - Density (Direct Premium per Capita), 2010-2014
Figure 33: Ecuadorian Personal Accident Insurance - Direct Written Premium (US$ Million), 2010-2014
Figure 34: Ecuadorian Personal Accident Insurance - Direct Written Premium (US$ Million), 2014-2019
Figure 35: Ecuadorian Personal Accident Insurance - Loss Ratio (%), 2010-2014
Figure 36: Ecuadorian Personal Accident Insurance - Loss Ratio (%), 2014-2019
Figure 37: Ecuadorian Non-Life Health Insurance - Direct Written Premium (US$ Million), 2010-2014
Figure 38: Ecuadorian Non-Life Health Insurance - Direct Written Premium (US$ Million), 2014-2019
Figure 39: Ecuadorian Non-Life Health Insurance - Paid Claims (US$ Million), 2010-2014
Figure 40: Ecuadorian Non-Life Health Insurance - Paid Claims (US$ Million), 2014-2019
Figure 41: Ecuadorian Non-Life Health Insurance - Loss Ratio (%), 2010-2014
Figure 42: Ecuadorian Non-Life Health Insurance - Loss Ratio (%), 2014-2019
Figure 43: Ecuadorian Non-Life Health Insurance - Net Written Premium (US$ Million), 2010-2014
Figure 44: Ecuadorian Non-Life Health Insurance - Net Written Premium (US$ Million), 2014-2019
Figure 45: Ecuadorian Personal Accident and Health Insurance - Number of Banking Entities, 2010-2014
Figure 46: Ecuadorian Personal Accident and Health Insurance - Number of Banking Entities, 2014-2019
Figure 47: Ecuadorian Personal Accident and Health Insurance - Number of Insurance Agents, 2010-2014
Figure 48: Ecuadorian Personal Accident and Health Insurance - Number of Insurance Agents, 2014-2019
Figure 49: Ecuadorian Personal Accident and Health Insurance - Shares of Key Insurers (%), 2014
Figure 50: Ecuador - Insurance Supervision and Control at Various Levels
Figure 51: Ecuador - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 52: Ecuador - Judiciary System

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