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The Insurance Industry in Honduras, Key Trends and Opportunities to 2022

The Insurance Industry in Honduras, Key Trends and Opportunities to 2022

Summary

The Insurance Industry in Honduras, Key Trends and Opportunities to 2022, report provides detailed analysis of the market trends, drivers and challenges in the Honduran insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Honduran economy and demographics, provides detailed information on the competitive landscape and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.

This report provides in-depth market analysis, information and insights into the Honduran insurance industry, including -

  • The Honduran insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Honduran economy and demographics
  • Details of the competitive landscape in the Honduran insurance industry
  • The various distribution channels in the Honduran insurance industry
  • Details of regulatory policy applicable to the Honduran insurance industry
  • Analysis of natural hazards in the Honduran insurance industry.
    • Key Findings
      • The General Regulations of the Honduras Land Transport Act 2016, enacted in March 2016, introduced mandatory motor third party liability (MTPL) insurance in Honduras.
      • In November 2016, the Comisión Nacional de Bancos y Seguros (CNBS) issued a circular which required debtors to take up credit life policies against bank loans.
      • The increased frequency of natural hazards and high risk of damage by riots and violent protests drove the property insurance category.
      • Microinsurance term life and whole life products were introduced in Honduras through mobile distribution channels, targeting the low income urban population.
        • Scope
          • This report provides a comprehensive analysis of the insurance industry in Honduras.
          • It provides historical values for the Honduran insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
          • It offers a detailed analysis of the key segments in the Honduran insurance industry, with market forecasts to 2022.
          • It covers an exhaustive list of parameters, including written premium and claims.
          • It analyzes the various distribution channels in Honduras.
          • It profiles the top insurance companies in Honduras, and outlines the key regulations affecting them.
          Reasons to buy
          • Make strategic business decisions using in-depth historic and forecast market data related to the Honduran insurance industry and each segment and category within it.
          • Understand the demand-side dynamics, key market trends and growth opportunities in the Honduran insurance industry.
          • Assess the competitive dynamics in the Honduran insurance industry.
          • Identify the growth opportunities and market dynamics in key segments.
          • Gain insights into key regulations governing the Honduran insurance industry and their impact on companies and the industry's future.


  • Key Facts and Highlights
    • Table Honduran Insurance Industry - Key Facts, 2017
    • Table Honduran Insurance Industry - Industry Shares of the Top Insurers, 2017
  • Executive Summary
  • Economy and Demographics
    • Table Figure 1: Honduran Real GDP (HNL Billion), 2013-2022
    • Table Honduran Government Credit Ratings
    • Table Figure 2: Honduran Exchange Rate (HNL per US$), 2013-2022
    • Table Figure 3: Honduran Consumer Price Inflation (%), 2013-2022
    • Table Figure 4: Honduran Current Account Balance as Percentage of GDP (%), 2013- 2022
    • Table Figure 5: Honduran Unemployment Rate, 2013-2022
    • Table Figure 6: Honduran Population by Age Group, 2013-2022
  • Industry Outlook
    • Industry Indicators
      • Gross written premium
        • Table Honduran Insurance Industry - Gross Written Premium (HNL Billion and US$ Million), 2013-2017
        • Table Honduran Insurance Industry - Gross Written Premium (HNL Billion and US$ Million), 2017-2022
        • Table Figure 7: Honduran Insurance Industry - Gross Written Premium (HNL Billion), 2013-2022
      • Insurance density
        • Table Honduran Insurance Industry - Density (HNL), 2013-2017
        • Table Honduran Insurance Industry - Density (HNL), 2017-2022
        • Table Figure 8: Honduran Insurance Industry - Density (HNL), 2013-2022
      • Active policies
        • Table Honduran Insurance Industry - Number of Active Policies (Million), 2013-2017
        • Table Honduran Insurance Industry - Number of Active Policies (Million), 2017-2022
        • Table Figure 9: Honduran Insurance Industry - Number of Active Policies (Million), 2013-2022
      • Paid claims
        • Table Honduran Insurance Industry - Paid Claims (HNL Billion and US$ Million), 2013- 2017
        • Table Honduran Insurance Industry - Paid Claims (HNL Billion and US$ Million), 2017- 2022
        • Table Figure 10: Honduran Insurance Industry - Paid Claims (HNL Billion), 2013-2022
  • Life Insurance Outlook
    • Segment Indicators
      • Gross written premium
        • Table Honduran Life Insurance - Gross Written Premium (HNL Billion and US$ Million), 2013-2017
        • Table Honduran Life Insurance - Gross Written Premium (HNL Billion and US$ Million), 2017-2022
        • Table Figure 11: Honduran Life Insurance - Gross Written Premium (HNL Billion), 2013-2022
      • Active policies
        • Table Honduran Life Insurance - Number of Active Policies (Thousand), 2013-2017
        • Table Honduran Life Insurance - Number of Active Policies (Thousand), 2017-2022
        • Table Figure 12: Honduran Life Insurance - Number of Active Policies (Thousand), 2013-2022
      • Paid claims
        • Table Honduran Life Insurance - Paid Claims (HNL Million and US$ Million), 2013-2017
        • Table Honduran Life Insurance - Paid Claims (HNL Million and US$ Million), 2017-2022
        • Table Figure 13: Honduran Life Insurance - Paid Claims (HNL Million), 2013-2022
      • Penetration
        • Table Figure 14: Honduran Life Insurance - Penetration (%), 2013-2017
        • Table Figure 15: Honduran Life Insurance - Penetration (%), 2017-2022
      • Sum assured
        • Table Honduran Life Insurance - Sum Assured (HNL Billion and US$ Billion), 2013-2017
        • Table Honduran Life Insurance - Sum Assured (HNL Billion and US$ Billion), 2017-2022
        • Table Figure 16: Honduran Life Insurance - Sum Assured (HNL Billion), 2013-2022
    • Individual Life Insurance
      • Gross written premium
        • Table Honduran Individual Life Insurance - Gross Written Premium (HNL Million and US$ Million), 2013-2017
        • Table Honduran Individual Life Insurance - Gross Written Premium (HNL Million and US$ Million), 2017-2022
        • Table Figure 17: Honduran Individual Life Insurance - Gross Written Premium (HNL Million), 2013- 2022
      • Active policies
        • Table Honduran Individual Life Insurance - Number of Active Policies (Thousand), 2013- 2017
        • Table Honduran Individual Life Insurance - Number of Active Policies (Thousand), 2017- 2022
        • Table Figure 18: Honduran Individual Life Insurance - Number of Active Policies (Thousand), 2013- 2022
      • Penetration
        • Table Figure 19: Honduran Individual Life Insurance - Penetration (%), 2013-2017
        • Table Figure 20: Honduran Individual Life Insurance - Penetration (%), 2017-2022
    • Group Life Insurance
      • Gross written premium
        • Table Honduran Group Life Insurance - Gross Written Premium (HNL Billion and US$ Million), 2013-2017
        • Table Honduran Group Life Insurance - Gross Written Premium (HNL Billion and US$ Million), 2017-2022
        • Table Figure 21: Honduran Group Life Insurance - Gross Written Premium (HNL Billion), 2013-2022
      • Active policies
        • Table Honduran Group Life Insurance - Number of Active Policies (Thousand), 2013-2017
        • Table Honduran Group Life Insurance - Number of Active Policies (Thousand), 2017-2022
        • Table Figure 22: Honduran Group Life Insurance - Number of Active Policies (Thousand), 2013- 2022
      • Penetration
        • Table Figure 23: Honduran Group Life Insurance - Penetration (%), 2013-2017
        • Table Figure 24: Honduran Group Life Insurance - Penetration (%), 2017-2022
    • Pension Insurance
      • Gross written premium
        • Table Honduran Pension - Gross Written Premium (HNL Million and US$ Million), 2013- 2017
        • Table Honduran Pension - Gross Written Premium (HNL Million and US$ Million), 2017- 2022
        • Table Figure 25: Honduran Pension - Gross Written Premium (HNL Million), 2013-2022
      • Penetration
        • Table Figure 26: Honduran Pension - Penetration (%), 2013-2017
        • Table Figure 27: Honduran Pension - Penetration (%), 2017-2022
  • General Insurance Outlook
    • Segment Indicators
      • Gross written premium
        • Table Honduran General Insurance - Gross Written Premium (HNL Billion and US$ Million), 2013-2017
        • Table Honduran General Insurance - Gross Written Premium (HNL Billion and US$ Million), 2017-2022
        • Table Figure 28: Honduran General Insurance - Gross Written Premium (HNL Billion), 2013-2022
      • Active policies
        • Table Honduran General Insurance - Number of Active Policies (Thousand), 2013-2017
        • Table Honduran General Insurance - Number of Active Policies (Thousand), 2017-2022
        • Table Figure 29: Honduran General Insurance - Number of Active Policies (Thousand), 2013-2022
      • Paid claims
        • Table Honduran General Insurance - Paid Claims (HNL Billion and US$ Million), 2013- 2017
        • Table Honduran General Insurance - Paid Claims (HNL Billion and US$ Million), 2017- 2022
        • Table Figure 30: Honduran General Insurance - Paid Claims (HNL Billion), 2013-2022
      • Penetration
        • Table Figure 31: Honduran General Insurance - Penetration (%), 2013-2017
        • Table Figure 32: Honduran General Insurance - Penetration (%), 2017-2022
    • Property Insurance
      • Gross written premium
        • Table Honduran Property Insurance - Gross Written Premium (HNL Billion and US$ Million), 2013-2017
        • Table Honduran Property Insurance - Gross Written Premium (HNL Billion and US$ Million), 2017-2022
        • Table Figure 33: Honduran Property Insurance - Gross Written Premium (HNL Billion), 2013-2022
      • Active policies
        • Table Honduran Property Insurance - Number of Active Policies (Thousand), 2013-2017
        • Table Honduran Property Insurance - Number of Active Policies (Thousand), 2017-2022
        • Table Figure 34: Honduran Property Insurance - Number of Active Policies (Thousand), 2013-2022
      • Penetration
        • Table Figure 35: Honduran Property Insurance - Penetration (%), 2013-2017
        • Table Figure 36: Honduran Property Insurance - Penetration (%), 2017-2022
      • Claims
        • Table Honduran Property Insurance - Paid Claims (HNL Million and US$ Million), 2013- 2017
        • Table Honduran Property Insurance - Paid Claims (HNL Million and US$ Million), 2017- 2022
        • Table Figure 37: Honduran Property Insurance - Paid Claims (HNL Million), 2013-2022
    • Motor Insurance
      • Gross written premium
        • Table Honduran Motor Insurance - Gross Written Premium (HNL Billion and US$ Million), 2013-2017
        • Table Honduran Motor Insurance - Gross Written Premium (HNL Billion and US$ Million), 2017-2022
        • Table Figure 38: Honduran Motor Insurance - Gross Written Premium (HNL Billion), 2013-2022
      • Active policies
        • Table Honduran Motor Insurance - Number of Active Policies (Thousand), 2013-2017
        • Table Honduran Motor Insurance - Number of Active Policies (Thousand), 2017-2022
        • Table Figure 39: Honduran Motor Insurance - Number of Active Policies (Thousand), 2013-2022
      • Penetration
        • Table Figure 40: Honduran Motor Insurance - Penetration (%), 2013-2017
        • Table Figure 41: Honduran Motor Insurance - Penetration (%), 2017-2022
      • Claims
        • Table Honduran Motor Insurance - Paid Claims (HNL Million and US$ Million), 2013-2017
        • Table Honduran Motor Insurance - Paid Claims (HNL Million and US$ Million), 2017-2022
        • Table Figure 42: Honduran Motor Insurance - Paid Claims (HNL Million), 2013-2022
    • Liability Insurance
      • Gross written premium
        • Table Honduran Liability Insurance - Gross Written Premium (HNL Million and US$ Million), 2013-2017
        • Table Honduran Liability Insurance - Gross Written Premium (HNL Million and US$ Million), 2017-2022
        • Table Figure 43: Honduran Liability Insurance - Gross Written Premium (HNL Million), 2013-2022
      • Penetration
        • Table Figure 44: Honduran Liability Insurance - Penetration (%), 2013-2017
        • Table Figure 45: Honduran Liability Insurance - Penetration (%), 2017-2022
      • Claims
        • Table Honduran Liability Insurance - Paid Claims (HNL Million and US$ Thousand), 2013- 2017
        • Table Honduran Liability Insurance - Paid Claims (HNL Million and US$ Thousand), 2017- 2022
        • Table Figure 46: Honduran Liability Insurance - Paid Claims (HNL Million), 2013-2022
    • Financial Lines Insurance
      • Gross written premium
        • Table Honduran Financial Lines Insurance - Gross Written Premium (HNL Million and US$ Million), 2013-2017
        • Table Honduran Financial Lines Insurance - Gross Written Premium (HNL Million and US$ Million), 2017-2022
        • Table Figure 47: Honduran Financial Lines Insurance - Gross Written Premium (HNL Million), 2013- 2022
      • Active policies
        • Table Honduran Financial Lines Insurance - Number of Active Policies (Thousand), 2013- 2017
        • Table Honduran Financial Lines Insurance - Number of Active Policies (Thousand), 2017- 2022
        • Table Figure 48: Honduran Financial Lines Insurance - Number of Active Policies (Thousand), 2013- 2022
      • Penetration
        • Table Figure 49: Honduran Financial Lines Insurance - Penetration (%), 2013-2017
        • Table Figure 50: Honduran Financial Lines Insurance - Penetration (%), 2017-2022
      • Claims
        • Table Honduran Financial Lines Insurance - Paid Claims (HNL Million and US$ Thousand), 2013-2017
        • Table Honduran Financial Lines Insurance - Paid Claims (HNL Million and US$ Thousand), 2017-2022
        • Table Figure 51: Honduran Financial Lines Insurance - Paid Claims (HNL Million), 2013-2022
    • Marine, Aviation and Transit Insurance
      • Gross written premium
        • Table Honduran Marine, Aviation and Transit Insurance - Gross Written Premium (HNL Million and US$ Million), 2013-2017
        • Table Honduran Marine, Aviation and Transit Insurance - Gross Written Premium (HNL Million and US$ Million), 2017-2022
        • Table Figure 52: Honduran Marine, Aviation and Transit Insurance - Gross Written Premium (HNL Million), 2013-2022
      • Penetration
        • Table Figure 53: Honduran Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
        • Table Figure 54: Honduran Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
      • Claims
        • Table Honduran Marine, Aviation and Transit Insurance - Paid Claims (HNL Million and US$ Million), 2013-2017
        • Table Honduran Marine, Aviation and Transit Insurance - Paid Claims (HNL Million and US$ Million), 2017-2022
        • Table Figure 55: Honduran Marine, Aviation and Transit Insurance - Paid Claims (HNL Million), 2013-2022
    • Personal Accident and Health Insurance
      • Gross written premium
        • Table Honduran Personal Accident and Health Insurance - Gross Written Premium (HNL Billion and US$ Million), 2013-2017
        • Table Honduran Personal Accident and Health Insurance - Gross Written Premium (HNL Billion and US$ Million), 2017-2022
        • Table Figure 56: Honduran Personal Accident and Health Insurance - Gross Written Premium (HNL Billion), 2013-2022
      • Active policies
        • Table Honduran Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2013-2017
        • Table Honduran Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2017-2022
        • Table Figure 57: Honduran Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2013-2022
      • Penetration
        • Table Figure 58: Honduran Personal Accident and Health Insurance - Penetration (%), 2013-2017
        • Table Figure 59: Honduran Personal Accident and Health Insurance - Penetration (%), 2017-2022
      • Claims
        • Table Honduran Personal Accident and Health Insurance - Paid Claims (HNL Million and US$ Million), 2013-2017
        • Table Honduran Personal Accident and Health Insurance - Paid Claims (HNL Million and US$ Million), 2017-2022
        • Table Figure 60: Honduran Personal Accident and Health Insurance - Paid Claims (HNL Million), 2013-2022
    • Miscellaneous
      • Gross written premium
        • Table Honduran Miscellaneous - Gross Written Premium (HNL Million and US$ Million), 2013-2017
        • Table Honduran Miscellaneous - Gross Written Premium (HNL Million and US$ Million), 2017-2022
        • Table Figure 61: Honduran Miscellaneous - Gross Written Premium (HNL Million), 2013-2022
      • Penetration
        • Table Figure 62: Honduran Miscellaneous - Penetration (%), 2013-2017
        • Table Figure 63: Honduran Miscellaneous - Penetration (%), 2017-2022
      • Claims
        • Table Honduran Miscellaneous - Paid Claims (HNL Million and US$ Thousand), 2013- 2017
        • Table Honduran Miscellaneous - Paid Claims (HNL Million and US$ Million), 2017-2022
        • Table Figure 64: Honduran Miscellaneous - Paid Claims (HNL Million), 2013-2022
  • Reinsurance Outlook
    • Premium Ceded
      • Table Honduran Reinsurance - Premium Ceded by Insurance Segment (HNL Billion), 2013-2017
      • Table Honduran Reinsurance - Premium Ceded by Insurance Segment (HNL Billion), 2017-2022
      • Table Figure 65: Honduran Reinsurance - Premium Ceded by Insurance Segment (HNL Billion), 2013-2022
      • Table Figure 66: Honduran Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
      • Table Figure 67: Honduran General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Flooding
    • Droughts
    • Earthquakes
    • Epidemics
    • Man-Made Hazards
    • Exposure
  • Competitive Landscape
    • Table Honduran Insurance Industry - Shares of the Leading Insurers (%), 2017
    • Table Figure 68: Honduran Insurance Industry - Market Shares of Leading Insurers (%), 2017
    • Table Honduran Insurance Industry - Shares of the Leading Life Insurers (%), 2017
    • Table Figure 69: Honduran Insurance Industry - Market Shares of Leading Life Insurers (%), 2017
    • Table Honduran Insurance Industry - Shares of the Leading General Insurers (%), 2017
    • Table Figure 70: Honduran Insurance Industry - Market Shares of Leading General Insurers (%), 2017
    • Company Profiles
      • Interamericana de Seguros SA - company overview
        • Table Interamericana de Seguros SA - Key Facts
      • Seguros Atlántida SA - company overview
        • Table Seguros Atlántida SA - Key Facts
      • Mapfre Seguros Honduras SA - company overview
        • Table Mapfre Seguros Honduras - Key Facts
      • Seguros del Pais - company overview
        • Table Seguros del Pais - Key Facts
      • Seguros Bolívar Honduras, SA - company overview
        • Table Seguros Bolívar Honduras - Key Facts
  • Governance, Risk and Compliance
    • Table Honduras - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Honduras - Life Insurance Regulatory Framework
      • Property insurance
        • Table Honduras - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Honduras - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Honduras - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Social insurance system
      • Motor third-party liability insurance
      • Professional indemnity cover for insurance agents and brokers
      • Aviation liability insurance
    • Supervision and Control
      • Table Figure 71: Honduras - Insurance Supervision and Control at Various Levels
      • Association of Insurance Supervisors Latin America
      • Central Bank of Honduras
      • National Banking and Insurance Commission
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Table Figure 72: Honduras - Insurance Regulatory Frameworks for Company Registration and Operation
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Honduras - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Life Insurance
      • Policies and premium
        • Table Honduran Life Insurance - Policies and Premium, 2013-2017
        • Table Honduran Life Insurance - Policies and Premium, 2017-2022
      • Claims and expenses
        • Table Honduran Life Insurance - Claims and Expenses, 2013-2017
        • Table Honduran Life Insurance - Claims and Expenses, 2017-2022
      • Individual life insurance
        • Table Honduran Life Insurance - Individual Life Insurance, 2013-2017
        • Table Honduran Life Insurance - Individual Life Insurance, 2017-2022
      • Group life insurance
        • Table Honduran Life Insurance - Group Life Insurance, 2013-2017
        • Table Honduran Life Insurance - Group Life Insurance, 2017-2022
    • General Insurance
      • Policies and premium
        • Table Honduran General Insurance - Policies and Premium, 2013-2017
        • Table Honduran General Insurance - Policies and Premium, 2017-2022
      • Claims and expenses
        • Table Honduran General Insurance - Claims and Expenses, 2013-2017
        • Table Honduran General Insurance - Claims and Expenses, 2017-2022
      • Property insurance
        • Table Honduran General Insurance - Property Insurance, 2013-2017
        • Table Honduran General Insurance - Property Insurance, 2017-2022
      • Property insurance by category
        • Table Honduran General Insurance - Property Insurance by Category, 2013-2017
        • Table Honduran General Insurance - Property Insurance by Category, 2017-2022
      • Motor insurance
        • Table Honduran General Insurance - Motor Insurance, 2013-2017
        • Table Honduran General Insurance - Motor Insurance, 2017-2022
      • Liability insurance
        • Table Honduran General Insurance - Liability Insurance, 2013-2017
        • Table Honduran General Insurance - Liability Insurance, 2017-2022
      • Financial lines insurance
        • Table Honduran General Insurance - Financial Lines Insurance, 2013-2017
        • Table Honduran General Insurance - Financial Lines Insurance, 2017-2022
      • Marine, aviation and transit insurance
        • Table Honduran General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
        • Table Honduran General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
      • Marine Aviation and Transit Insurance by
        • Table Honduran General Insurance - Marine Aviation and Transit Insurance by Category, 2013-2017
        • Table Honduran General Insurance - Marine Aviation and Transit Insurance by Category, 2017-2022
      • Personal Accident and Health Insurance
        • Table Honduran General Insurance - Personal Accident and Health Insurance, 2013- 2017
        • Table Honduran General Insurance - Personal Accident and Health Insurance, 2017- 2022
      • Personal Accident and Health Insurance by category
        • Table Honduran General Insurance - Personal Accident and Health Insurance by Category, 2013-2017
        • Table Honduran General Insurance - Personal Accident and Health Insurance by Category, 2017-2022
      • Miscellaneous
        • Table Honduran General Insurance - Miscellaneous, 2013-2017
        • Table Honduran General Insurance - Miscellaneous, 2017-2022
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
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