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Central America Insurance Report Q2 2015


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Central America Insurance Report Q2 2015

BMI View: Central America's insurance markets are diverse in terms of size, ranging from Nicaragua's total premiums of just USD160mn 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.


BMI Industry View
SWOT
Panama Industry Forecast
Panama Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Panama 2012-2019)
Life Claims
Table: Life Insurance Claims (Panama 2007-2013)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (Panama 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Panama 2012-2019)
Panama Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Panama 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Panama 2007-2013)
Table: Non-Life Insurance Claims by Line (Panama 2010-2013)
Panama Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Panama 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Panama 2012-2019)
Table: Transport Insurance (Panama 2012-2019)
Property Insurance
Table: Property Insurance (Panama 2012-2019)
Health and Personal Accident Insurance
Table: Health Insurance (Panama 2012-2019)
Table: Personal Accident Insurance (Panama 2012-2019)
General Liability and Credit Insurance
Table: General Liability Insurance (Panama 2012-2019)
Table: Credit/Financial Guarantee Insurance (Panama 2012-2019)
Costa Rica Industry Forecast
Costa Rica Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Costa Rica 2012-2019)
Life Claims
Table: Life Insurance Claims (Costa Rica 2010-2013)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (Costa Rica 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Costa Rica 2012-2019)
Costa Rica Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Costa Rica 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Costa Rica 2010-2013)
Table: Non-Life Insurance Claims by Line (Costa Rica 2010-2013)
Costa Rica Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Costa Rica 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Costa Rica 2012-2019)
Table: Transport Insurance (Costa Rica 2012-2019)
Property Insurance
Table: Property Insurance (Costa Rica 2012-2019)
Health and Personal Accident
Table: Health and Personal Accident Insurance (Costa Rica 2012-2019)
General Liability and Credit Insurance
Table: General Liability Insurance (Costa Rica 2012-2019)
Table: Credit/Financial Guarantee Insurance (Costa Rica 2012-2019)
Guatemala Industry Forecast
Guatemala Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Guatemala 2012-2019)
Net Life Premiums
Table: Net Life Premiums Written (Guatemala 2012-2019)
Life Claims
Table: Life Insurance Claims (Guatemala 2007-2013)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (Guatemala 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Guatemala 2012-2019)
Guatemala Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Guatemala 2012-2019)
Net Non-Life Premiums
Table: Net Non-Life Premiums Written (Guatemala 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Guatemala 2007-2013)
Table: Non-Life Insurance Claims by Line (Guatemala 2007-2013)
Guatemala Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Guatemala 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Guatemala 2012-2019)
Table: Transport Insurance (Guatemala 2012-2019)
Property Insurance
Table: Property Insurance (Guatemala 2012-2019)
Health and Personal Accident Insurance
Table: Health Insurance (Guatemala 2012-2019)
Table: Personal Accident Insurance (Guatemala 2012-2019)
General Liability and Credit Insurance
Table: General Liability Insurance (Guatemala 2012-2019)
Table: Credit/Financial Guarantee Insurance (Guatemala 2012-2019)
El Salvador Industry Forecast
El Salvador Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (El Salvador 2012-2019)
Net Life Premiums
Table: Net Life Premiums Written (El Salvador 2012-2019)
Life Claims
Table: Life Insurance Claims (El Salvador 2010-2013)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (El Salvador 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (El Salvador 2012-2019)
El Salvador Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (El Salvador 2012-2019)
Net Non-Life Premiums
Table: Net Non-Life Premiums Written (El Salvador 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (El Salvador 2010-2013)
Table: Non-Life Insurance Claims by Line (El Salvador 2011-2013)
El Salvador Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (El Salvador 2012-2019)
Motor Insurance
Table: Motor Vehicle Insurance (El Salvador 2012-2019)
Property Insurance
Table: Property Insurance (El Salvador 2012-2019)
Honduras Industry Forecast
Honduras Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Honduras 2012-2019)
Life Claims
Table: Life Insurance Claims (Honduras 2007-2013)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (Honduras 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Honduras 2012-2019)
Honduras Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Honduras 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Honduras 2007-2013)
Table: Non-Life Insurance Claims by Line (Honduras 2007-2013)
Honduras Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Honduras 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Honduras 2012-2019)
Table: Transport Insurance (Honduras 2012-2019)
Property Insurance
Table: Property Insurance (Honduras 2012-2019)
Health and Personal Accident Insurance
Table: Health Insurance (Honduras 2012-2019)
Table: Personal Accident Insurance (Honduras 2012-2019)
General Liability and Credit Insurance
Table: General Liability Insurance (Honduras 2012-2019)
Table: Credit/Financial Guarantee Insurance (Honduras 2012-2019)
Nicaragua Industry Forecast
Nicaragua Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Nicaragua 2012-2019)
Life Claims
Table: Life Insurance Claims (Nicaragua 2007-2013)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (Nicaragua 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Nicaragua 2012-2019)
Nicaragua Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Nicaragua 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Nicaragua 2007-2013)
Table: Non-Life Insurance Claims by Line (Nicaragua 2007-2013)
Nicaragua Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Nicaragua 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Nicaragua 2012-2019)
Table: Transport Insurance (Nicaragua 2012-2019)
Property Insurance
Table: Property Insurance (Nicaragua 2012-2019)
Health and Personal Accident Insurance
Table: Health Insurance (Nicaragua 2012-2019)
Table: Personal Accident Insurance (Nicaragua 2012-2019)
General Liability and Credit Insurance
Table: General Liability Insurance (Nicaragua 2012-2019)
Table: Credit/Financial Guarantee Insurance (Nicaragua 2012-2019)
Industry Risk Reward Ratings
Latin America Insurance Risk/Reward Ratings - Q2 2015
Table: Latin America Risk/Reward Index - Q2 2015
Market Overview
Panama Market Overview
Table: Life Insurance Market Share (%), 2010-2013
Table: Non-Life Insurance Market Share (%) 2010-2013
Costa Rica Market Overview
Table: Life Insurance Market Share (%), 2011-2013
Table: Non-Life Insurance Market Share (%), 2011-2013
Guatemala Market Overview
Table: Life Market Share (%) 2012-13
Table: Non-Life Market Share (%) 2012-2013
El Salvador Market Overview
Table: Life Market Share (%) 2011-2013
Table: Non-Life Market Share (%) 2011-2013
Honduras Market Overview
Table: Life Market Share (%) 2007-2013
Table: Non-Life Market Share (%) 2007-2013
Nicaragua Market Overview
Table: Life Market Share (%) 2007-2013
Table: Non-Life Market Share (%) 2007-2013
Company Profile
MAPFRE
Pan-American Life Insurance Group (PALIG)
ASSA
INS - Costa Rica
Iniser - Nicaragua
Ficohsa Seguros - Honduras
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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