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Venezuela Insurance Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 53 pages

Includes 3 FREE quarterly updates

BMI View: Venezuela's insurance market continues to face severe challenges stemming from hyperinflation and faltering economic growth. These headwinds are eroding the spending power of householdsand are likely to drag on demand for all but the most essential insurance products over the comingquarters, including motor and health insurance. Growth in other lines will be impeded by furthercontraction in oil based revenues and GDP, with the life sector in particular remaining at a very low levelof development through our forecast period to 2020.The exit of US composite insurer Liberty Mutual form the market highlights the challenges facingmultinationals, as the company's local subsidiary recorded losses of USD744mn in Q4 2015. Nevertheless,we believe the market offers significant long-term potential should the economic climate recover. A lack ofstate healthcare provision means Venezuelans invest heavily in health insurance, while a rise in incomelevels would offer scope for growth in life insurance sales.

Table Of Contents

Venezuela Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Venezuela 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Venezuela 2013-2020) 12
Table: Life Insurance Claims (Venezuela 2008-2013) 13
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Venezuela 2013-2020) 16
Table: Non-Life Insurance Claims (Venezuela 2009-2015) 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums By Product Line (Venezuela 2013-2020) 29
Industry Risk Reward Index 30
Latin America Insurance Risk/Reward Index 30
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q216 31
Market Overview 32
Life Market Overview 32
Product Offering 32
Competitive Landscape 32
Table: Life Insurance Market, 2008-2013 (USDmn) 34
Non-Life Market Overview 35
Product Offering 35
Competitive Landscape 36
Table: Company Performance, Non-Life Insurance Market, 2008-2013 (USDmn) 37
Company Profile 39
Caracas de Liberty Mutual 39
Horizonte 41
Seguros Mercantil 43
MAPFRE La Seguridad 45
Methodology 47
Industry Forecast Methodology 47
Risk/Reward Index Methodology 50
Table: Indicators 52
Table: Weighting of Indicators 53

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