Honduras Insurance Q1 2021
Honduras is home to a small insurance industry which is focused primarily on basic covers in the non-life sector.Development of the market has been hindered by low average income levels and lack of financial inclusion which has madeinsurance inaccessible for many households. Insurers are working to reach more first-time users by developing affordablemicroinsurance products and expanding direct digital and mobile sales, which will support steady premium growth over the comingyears. While the outlook is relatively positive, we continue to highlight the downside risk arising from the ongoing Covid-19pandemic which has the potential to cause further economic disruption in 2021.
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