1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Central America Insurance Report Q3 2015

Central America Insurance Report Q3 2015

  • June 2015
  • -
  • Business Monitor International
  • -
  • 161 pages

Includes 3 FREE quarterly updates

BMI View:

Central America's insurance markets are diverse in terms of size, ranging from Nicaragua's total premiums of just USD170mn to Panama's at almost ten times that size. Most are growing quickly, and a broad trend towards health insurance products will continue to spark growth. Many markets remain fragmented, and opportunities abound for acquisitions both from within and without. Product innovation, particularly in low-cost alternatives, has been limited but has the potential to deliver long-term growth in many sectors.

BMI expects Central American insurance markets to continue to grow rapidly in the coming years. Annual growth rates outside Nicaragua, the region's underperformer, will consistently hit high single-digit rates, with some sectors consistently posting growth rates in excess of 10%. We would highlight Panama and El Salvador as markets which will outperform in absolute terms. Consumers in these insurance markets have the greatest ability to afford insurance and the insurance companies that operate are established and able to deliver.

Table Of Contents

Central America Insurance Report Q3 2015
BMI Industry View ... 9
SWOT .. 12
Panama Industry Forecast ... 14
Panama Life Premiums Forecast 14
Life Premiums ... 14
Table: Gross Life Premiums Written (Panama 2012-2019) . 16
Life Claims ... 16
Table: Life Insurance Claims (Panama 2007-2014) . 16
Life Insurance Drivers 17
Table: Life Expectancy by Gender (Panama 2012-2019) 17
Table: Demographic Breakdown (Panama 2012-2019) 18
Panama Non-Life Premiums Forecast . 19
Non-Life Premiums 19
Table: Gross Non-Life Premiums Written (Panama 2012-2019) 20
Non-Life Claims . 21
Table: Non-Life Insurance Claims (Panama 2007-2014) 21
Table: Non-Life Insurance Claims by Line (Panama 2007-2014) 22
Panama Non-Life Sub-Sector Forecast 23
Table: Non-Life % Breakdown (Panama 2012-2019) . 24
Motor and Transport Insurance 24
Table: Motor Vehicle Insurance (Panama 2012-2019) 25
Table: Transport Insurance (Panama 2012-2019) 25
Property Insurance . 26
Table: Property Insurance (Panama 2012-2019) 26
Health and Personal Accident Insurance 26
Table: Health Insurance (Panama 2012-2019) . 27
Table: Insurance Key Drivers, Private Health Expenditure (Panama 2012-2019) . 28
Table: Personal Accident Insurance (Panama 2012-2019) . 28
General Liability and Credit Insurance .. 28
Table: General Liability Insurance (Panama 2012-2019) 29
Table: Credit/Financial Guarantee Insurance (Panama 2012-2019) . 30
Costa Rica Industry Forecast ... 31
Costa Rica Life Premiums Forecast 31
Life Premiums ... 31
Table: Gross Life Premiums Written (Costa Rica 2012-2019) . 33
Life Claims ... 34
Table: Life Insurance Claims (Costa Rica 2007-2014) . 34
Life Insurance Drivers 34
Table: Life Expectancy by Gender (Costa Rica 2012-2019) . 35
Table: Demographic Breakdown (Costa Rica 2012-2019) 35
Costa Rica Non-Life Premiums Forecast .. 36
Non-Life Premiums 36
Table: Gross Non-Life Premiums Written (Costa Rica 2012-2019) . 37
Non-Life Claims . 38
Table: Non-Life Insurance Claims (Costa Rica 2007-2014) . 38
Table: Non-Life Insurance Claims by Line (Costa Rica 2007-2014) . 39
Costa Rica Non-Life Sub-Sector Forecast . 40
Table: Non-Life % Breakdown (Costa Rica 2012-2019) 42
Motor and Transport Insurance 42
Table: Motor Vehicle Insurance (Costa Rica 2012-2019) 43
Table: Transport Insurance (Costa Rica 2012-2019) . 44
Property Insurance . 44
Table: Property Insurance (Costa Rica 2012-2019) . 45
Health and Personal Accident .. 45
Table: Health and Personal Accident Insurance (Costa Rica 2012-2019) 46
Table: Insurance Key Drivers, Private Health Expenditure (Costa Rica 2012-2019) . 47
General Liability and Credit Insurance .. 47
Table: General Liability Insurance (Costa Rica 2012-2019) . 47
Table: Credit/Financial Guarantee Insurance (Costa Rica 2012-2019) 48
Guatemala Industry Forecast ... 49
Guatemala Life Premiums Forecast 49
Life Premiums ... 49
Table: Gross Life Premiums Written (Guatemala 2012-2019) . 51
Net Life Premiums .. 51
Table: Net Life Premiums Written (Guatemala 2012-2019) . 52
Life Claims ... 52
Table: Life Insurance Claims (Guatemala 2007-2014) 52
Life Insurance Drivers 53
Table: Life Expectancy by Gender (Guatemala 2012-2019) . 53
Table: Demographic Breakdown (Guatemala 2012-2019) 54
Guatemala Non-Life Premiums Forecast .. 55
Non-Life Premiums 55
Table: Gross Non-Life Premiums Written (Guatemala 2012-2019) . 56
Net Non-Life Premiums ... 56
Table: Net Non-Life Premiums Written (Guatemala 2012-2019) 57
Non-Life Claims . 57
Table: Non-Life Insurance Claims (Guatemala 2007-2014) . 58
Table: Non-Life Insurance Claims by Line (Guatemala 2007-2014) . 58
Guatemala Non-Life Sub-Sector Forecast . 60
Table: Non-Life % Breakdown (Guatemala 2012-2019) 61
Motor and Transport Insurance 62
Table: Motor Vehicle Insurance (Guatemala 2012-2019) 63
Table: Transport Insurance (Guatemala 2012-2019) . 63
Property Insurance . 64
Table: Property Insurance (Guatemala 2012-2019) . 64
Health and Personal Accident Insurance 64
Table: Health Insurance (Guatemala 2012-2019) 65
Table: Personal Accident Insurance (Guatemala 2012-2019) . 65
General Liability and Credit Insurance .. 65
Table: General Liability Insurance (Guatemala 2012-2019) . 66
Table: Credit/Financial Guarantee Insurance (Guatemala 2012-2019) 66
El Salvador Industry Forecast .. 67
El Salvador Life Premiums Forecast ... 67
Life Premiums ... 67
Table: Gross Life Premiums Written (El Salvador 2012-2019) 68
Net Life Premiums .. 69
Table: Net Life Premiums Written (El Salvador 2012-2019) . 69
Life Claims ... 70
Table: Life Insurance Claims (El Salvador 2007-2014) 70
Life Insurance Drivers 71
Table: Life Expectancy by Gender (El Salvador 2012-2019) . 71
Table: Demographic Breakdown (El Salvador 2012-2019) . 72
El Salvador Non-Life Premiums Forecast . 73
Non-Life Premiums 73
Table: Gross Non-Life Premiums Written (El Salvador 2012-2019) . 74
Net Non-Life Premiums ... 75
Table: Net Non-Life Premiums Written (El Salvador 2012-2019) 75
Non-Life Claims . 75
Table: Non-Life Insurance Claims (El Salvador 2007-2014) . 76
Table: Non-Life Insurance Claims by Line (El Salvador 2007-2014) . 76
El Salvador Non-Life Sub-Sector Forecast 77
Table: Non-Life % Breakdown (El Salvador 2012-2019) 79
Motor Insurance 79
Table: Motor Vehicle Insurance (El Salvador 2012-2019) 80
Property Insurance . 80
Table: Property Insurance (El Salvador 2012-2019) . 81
Health and Personal Accident Insurance 81
Table: Health and Personal Accident Insurance (El Salvador 2012-2019) . 81
Honduras Industry Forecast . 82
Honduras Life Premiums Forecast .. 82
Life Premiums ... 82
Table: Gross Life Premiums Written (Honduras 2012-2019) . 84
Life Claims ... 84
Table: Life Insurance Claims (Honduras 2007-2014) . 85
Life Insurance Drivers 85
Table: Life Expectancy by Gender (Honduras 2012-2019) . 85
Table: Demographic Breakdown (Honduras 2012-2019) 86
Honduras Non-Life Premiums Forecast ... 87
Non-Life Premiums 87
Table: Gross Non-Life Premiums Written (Honduras 2012-2019) 88
Non-Life Claims . 88
Table: Non-Life Insurance Claims (Honduras 2007-2014) . 89
Table: Non-Life Insurance Claims by Line (Honduras 2007-2014) . 90
Honduras Non-Life Sub-Sector Forecast .. 91
Table: Non-Life % Breakdown (Honduras 2012-2019) 92
Motor and Transport Insurance 93
Table: Motor Vehicle Insurance (Honduras 2012-2019) 93
Table: Transport Insurance (Honduras 2012-2019) . 94
Property Insurance . 94
Table: Property Insurance (Honduras 2012-2019) 95
Health and Personal Accident Insurance 95
Table: Health Insurance (Honduras 2012-2019) 96
Table: Insurance Key Drivers, Private Health Expenditure (Honduras 2012-2019) . 96
Table: Personal Accident Insurance (Honduras 2012-2019) . 97
General Liability and Credit Insurance .. 97
Table: General Liability Insurance (Honduras 2012-2019) . 97
Table: Credit/Financial Guarantee Insurance (Honduras 2012-2019) 98
Nicaragua Industry Forecast 99
Nicaragua Life Premiums Forecast . 99
Life Premiums ... 99
Table: Gross Life Premiums Written (Nicaragua 2012-2019) 100
Life Claims . 101
Table: Life Insurance Claims (Nicaragua 2007-2014) 101
Life Insurance Drivers .. 101
Table: Life Expectancy by Gender (Nicaragua 2012-2019) . 101
Table: Demographic Breakdown (Nicaragua 2012-2019) . 102
Nicaragua Non-Life Premiums Forecast 103
Non-Life Premiums .. 103
Table: Gross Non-Life Premiums Written (Nicaragua 2012-2019) . 104
Non-Life Claims ... 104
Table: Non-Life Insurance Claims (Nicaragua 2007-2014) . 105
Table: Non-Life Insurance Claims by Line (Nicaragua 2007-2014) . 106
Nicaragua Non-Life Sub-Sector Forecast ... 107
Table: Non-Life % Breakdown (Nicaragua 2012-2019) 108
Motor and Transport Insurance .. 110
Table: Motor Vehicle Insurance (Nicaragua 2012-2019) 110
Table: Transport Insurance (Nicaragua 2012-2019) . 111
Property Insurance ... 111
Table: Property Insurance (Nicaragua 2012-2019) . 112
Health and Personal Accident Insurance .. 112
Table: Health Insurance (Nicaragua 2012-2019) 112
Table: Insurance Key Drivers, Private Health Expenditure (Nicaragua 2012-2019) . 113
Table: Personal Accident Insurance (Nicaragua 2012-2019) . 113
General Liability and Credit Insurance 114
Table: General Liability Insurance (Nicaragua 2012-2019) . 114
Table: Credit/Financial Guarantee Insurance (Nicaragua 2012-2019) 114
Industry Risk Reward Ratings 115
Latin America Insurance Risk/Reward Index ... 115
Table: Latin America Insurance Risk/Reward Index . 116
Market Overview . 117
Panama Market Overview ... 117
Table: Life Insurance Market Share (%), 2010-2013 . 119
Table: Non-Life Insurance Market Share (USDmn) 2010-2013 121
Costa Rica Market Overview ... 122
Table: Life Insurance Market Share USDmn 2011-2014 124
Table: Non-Life Insurance Market Share (USDmn) 2011-2013 126
Guatemala Market Overview ... 126
Table: Life Market Share USDmn 2012-2014 . 128
Table: Non-Life Market Share (USDmn) 2012-2014 . 130
El Salvador Market Overview .. 131
Table: Life Market Share (%) 2011-2013 132
Table: Non-Life Market Share (%) 2011-2013 134
Honduras Market Overview . 134
Table: Life Market Share USDmn, 2007-2014 136
Table: Non-Life Market Share USDmn, 2007-2014 . 138
Nicaragua Market Overview 138
Table: Life Market Share USDmn 2007-2014 . 140
Table: Non-Life Market Share USDmn 2007-2014 . 141
Company Profile .. 143
MAPFRE . 143
Pan-American Life Insurance Group (PALIG) . 145
ASSA ... 147
INS - Costa Rica 149
Iniser - Nicaragua . 151
Ficohsa Seguros - Honduras 153
Methodology 155
Industry Forecast Methodology .. 155
Risk/Reward Index Methodology . 158
Table: Indicators 160
Table: Weighting of Indicators 161

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
UK Travel Insurance: Market Dynamics and Opportunities 2016

UK Travel Insurance: Market Dynamics and Opportunities 2016

  • $ 3450
  • Industry report
  • August 2016
  • by Verdict Financial

Summary The UK travel insurance market declined by 12.3% to £625.4m in gross written premium (GWP) in 2015. This is a result of fewer policies being written, in addition to rates that have been prevented ...

The Insurance Industry in Belarus, Key Trends and Opportunities to 2020

The Insurance Industry in Belarus, Key Trends and Opportunities to 2020

  • $ 1450
  • Industry report
  • October 2016
  • by Timetric

Synopsis Timetric’s 'The Insurance Industry in Belarus, Key Trends and Opportunities to 2020' report provides a detailed analysis of Belarusian insurance industry. It provides key performance indicators ...

The Insurance Industry in Montenegro, Key Trends and Opportunities to 2020

The Insurance Industry in Montenegro, Key Trends and Opportunities to 2020

  • $ 1450
  • Industry report
  • September 2016
  • by Timetric

Synopsis Timetric’s 'The Insurance Industry in Montenegro, Key Trends and Opportunities to 2020' report provides a detailed analysis of Montenegrin insurance industry. It provides key performance indicators ...


ref:plp2015

Reportlinker.com © Copyright 2016. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.