El Salvador Insurance Q1 2019
The insurance industry in El Salvador continues to face significant structural challenges. The low average income levelrecorded in the country means that a substantial proportion of the consumer base is still excluded from traditional insurance covers,while a lack of economic diversification also limits demand for corporate products. While the competitive landscape has attractedsome key regional players and also includes multinational providers, there is a limited product range and distribution channels arealso restricted, which reduces market access. Despite these challenges, written premiums are expected to expand as an emergingmiddle class and wider economic growth stimulate demand.
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