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The Insurance Industry in Guatemala, Key Trends and Opportunities to 2019

The Insurance Industry in Guatemala, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'The Insurance Industry in Guatemala, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Guatemalan insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Guatemalan economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country.

It also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'The Insurance Industry in Guatemala, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Guatemalan insurance industry, including:

  • The Guatemalan insurance industry's growth prospects by segment and category
  • A comprehensive overview of Guatemalan economy and demographics
  • The detailed competitive landscape in the Guatemalan insurance industry
  • The various distribution channels in the Guatemalan insurance industry
  • Details of regulatory policy applicable to the Guatemalan insurance industry
  • Analysis of natural hazards in the Guatemalan insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Guatemala:
  • It provides historical values for the Guatemalan insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key segments in the Guatemalan insurance industry, and market forecasts to 2019.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It analyzes the various distribution channels in Guatemala.
  • It profiles the top insurance companies in Guatemala 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 Guatemalan insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Guatemalan insurance industry.
  • Assess the competitive dynamics in the Guatemalan insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Guatemalan insurance industry and their impact on companies and the industry's future.
Key Highlights
  • The Guatemalan insurance gross written premium grew at a review-period CAGR of 10.3%.
  • The Guatemalan insurance industry is governed by the Superintendencia de Bancos de Guatemala.
  • As of 2014, there were 28 insurers operating in Guatemala. The top five companies accounted for 65.6% of the total industry’s written premium in 2014.
  • The non-life segment accounted for 55.5% of the industry's gross written premium in 2014 after recording a review-period CAGR of 9.6%.
  • Life insurance accounted for 20.8% of the industry's gross written premium in 2014 after recording a review-period CAGR of 12.1%.
  • The personal accident and health segment accounted for 23.7% of the industry's gross written premium in 2014 and grew at a review-period CAGR of 10.4%.


  • Key Facts and Highlights
    • Table Guatemalan Insurance Industry - Key Facts
  • Executive Summary
  • Economy and Demographics
  • Guatemalan Insurance Industry Overview
  • Industry Segmentation
    • Life Insurance
      • Table Guatemalan Life Insurance - Gross Written Premium by Sub-Segment (GTQ Million), 2010-2014
      • Table Guatemalan Life Insurance - Gross Written Premium by Sub-Segment (US$ Million), 2010-2014
      • Table Guatemalan Life Insurance - Gross Written Premium by Sub-Segment (GTQ Million), 2014-2019
      • Table Guatemalan Life Insurance - Gross Written Premium by Sub-Segment (US$ Million), 2014-2019
      • Table Guatemalan Life Insurance Segmentation by Gross Written Premium (Percentage Share), 2010-2019
      • Table Guatemalan Life Insurance - Direct Written Premium by Sub-Segment (GTQ Million), 2010-2014
      • Table Guatemalan Life Insurance - Direct Written Premium by Sub-Segment (US$ Million), 2010-2014
      • Table Guatemalan Life Insurance - Direct Written Premium by Sub-Segment (GTQ Million), 2014-2019
      • Table Guatemalan Life Insurance - Direct Written Premium by Sub-Segment (US$ Million), 2014-2019
      • Table Guatemalan Life Insurance Segmentation by Direct Written Premium (Percentage Share), 2010-2019
      • Individual life insurance
        • Table Guatemalan Individual Life Insurance - Gross Written Premium by Category (GTQ Million), 2010-2014
        • Table Guatemalan Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
        • Table Guatemalan Individual Life Insurance - Gross Written Premium by Category (GTQ Million), 2014-2019
        • Table Guatemalan Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
        • Table Guatemalan Individual Life Insurance - Direct Written Premium by Category (GTQ Million), 2010-2014
        • Table Guatemalan Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
        • Table Guatemalan Individual Life Insurance - Direct Written Premium by Category (GTQ Million), 2014-2019
        • Table Guatemalan Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Group Life Insurance
        • Table Guatemalan Group Life Insurance - Gross Written Premium by Category (GTQ Million), 2010-2014
        • Table Guatemalan Group Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
        • Table Guatemalan Group Life Insurance - Gross Written Premium by Category (GTQ Billion), 2014-2019
        • Table Guatemalan Group Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
        • Table Guatemalan Group Life Insurance - Direct Written Premium by Category (GTQ Million), 2010-2014
        • Table Guatemalan Group Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
        • Table Guatemalan Group Life Insurance - Direct Written Premium by Category (GTQ Billion), 2014-2019
        • Table Guatemalan Group Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
        • Table Guatemalan Life Insurance - Paid Claims (GTQ Million), 2010-2014
        • Table Guatemalan Life Insurance - Paid Claims (GTQ Million), 2014-2019
        • Table Guatemalan Life Insurance - Incurred Loss (GTQ Million), 2010-2014
        • Table Guatemalan Life Insurance - Incurred Loss (GTQ Million), 2014-2019
        • Table Guatemalan Life Insurance - Net Written Premium (Percentage of GWP), 2010-2014
        • Table Guatemalan Life Insurance - Net Written Premium (Percentage of GWP), 2014-2019
        • Table Guatemalan Life Insurance - Total Assets (GTQ Billion), 2010-2014
        • Table Guatemalan Life Insurance - Total Assets (GTQ Billion), 2014-2019
        • Table Guatemalan Life Insurance - Total Investment Income (GTQ Million), 2010-2014
        • Table Guatemalan Life Insurance - Total Investment Income (GTQ Million), 2014-2019
        • Table Guatemalan Life Insurance - Net Written Premium (GTQ Million), 2010-2014
        • Table Guatemalan Life Insurance - Net Written Premium (GTQ Billion), 2014-2019
    • Life Insurance by Category
      • Individual whole life insurance
        • Table Guatemalan Individual Whole Life Insurance - Gross Written Premium (GTQ Million), 2010-2014
        • Table Guatemalan Individual Whole Life Insurance - Gross Written Premium (GTQ Million), 2014-2019
      • Individual pension insurance
        • Table Guatemalan Individual Pension Insurance - Gross Written Premium (GTQ Million), 2010-2014
        • Table Guatemalan Individual Pension Insurance - Gross Written Premium (GTQ Million), 2014-2019
      • Group whole life insurance
        • Table Guatemalan Group Whole Life Insurance - Gross Written Premium (GTQ Million), 2010-2014
        • Table Guatemalan Group Whole Life Insurance - Gross Written Premium (GTQ Billion), 2014-2019
    • Non-Life Insurance
      • Table Guatemalan Non-Life Insurance - Gross Written Premium by Category (GTQ Billion), 2010-2014
      • Table Guatemalan Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Guatemalan Non-Life Insurance - Gross Written Premium by Category (GTQ Billion), 2014-2019
      • Table Guatemalan Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Guatemalan Non-Life Insurance - Direct Written Premium by Category (GTQ Billion), 2010-2014
      • Table Guatemalan Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Guatemalan Non-Life Insurance - Direct Written Premium by Category (GTQ Billion), 2014-2019
      • Table Guatemalan Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Table Guatemalan Non-Life Insurance - Paid Claims (GTQ Million), 2010-2014
      • Table Guatemalan Non-Life Insurance - Paid Claims (GTQ Million), 2014-2019
      • Table Guatemalan Non-Life Insurance - Incurred Loss (GTQ Million), 2010-2014
      • Table Guatemalan Non-Life Insurance - Incurred Loss (GTQ Billion), 2014-2019
      • Table Guatemalan Non-Life Insurance - Loss Ratio (%), 2010-2014
      • Table Guatemalan Non-Life Insurance - Loss Ratio (%), 2014-2019
      • Table Guatemalan Non-Life Insurance - Combined Ratio (%), 2010-2014
      • Table Guatemalan Non-Life Insurance - Combined Ratio (%), 2014-2019
      • Table Guatemalan Non-Life Insurance - Total Assets (GTQ Billion), 2010-2014
      • Table Guatemalan Non-Life Insurance - Total Assets (GTQ Billion), 2014-2019
      • Table Guatemalan Non-Life Insurance - Total Investment Income (GTQ Million), 2010-2014
      • Table Guatemalan Non-Life Insurance - Total Investment Income (GTQ Million), 2014-2019
      • Table Guatemalan Non-Life Insurance - Net Written Premium (GTQ Billion), 2010-2014
      • Table Guatemalan Non-Life Insurance - Net Written Premium (GTQ Billion), 2014-2019
      • Property insurance
        • Table Guatemalan Property Insurance - Gross Written Premium (GTQ Billion), 2010-2014
        • Table Guatemalan Property Insurance - Gross Written Premium (GTQ Billion), 2014-2019
      • Motor insurance
        • Table Guatemalan Motor Insurance - Gross Written Premium (GTQ Billion), 2010-2014
        • Table Guatemalan Motor Insurance - Gross Written Premium (GTQ Billion), 2014-2019
      • Liability insurance
        • Table Guatemalan Liability Insurance - Gross Written Premium (GTQ Million), 2010-2014
        • Table Guatemalan Liability Insurance - Gross Written Premium (GTQ Million), 2014-2019
      • Marine, aviation and transit insurance
        • Table Guatemalan Marine, Aviation and Transit Insurance - Gross Written Premium (GTQ Million), 2010-2014
        • Table Guatemalan Marine, Aviation and Transit Insurance - Gross Written Premium (GTQ Million), 2014-2019
    • Personal Accident and Health Insurance
      • Table Guatemalan Personal Accident and Health Insurance - Gross Written Premium by Category (GTQ Billion), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Gross Written Premium by Category (GTQ Billion), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Direct Written Premium by Category (GTQ Million), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Direct Written Premium by Category (GTQ Million), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Paid Claims (GTQ Million), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Paid Claims (GTQ Billion), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Incurred Loss (GTQ Million), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Incurred Loss (GTQ Billion), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Total Assets (GTQ Billion), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Total Assets (GTQ Billion), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Total Investment Income (GTQ Million), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Total Investment Income (GTQ Million), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Net Written Premium (GTQ Billion), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Net Written Premium (GTQ Billion), 2014-2019
      • Personal accident insurance
        • Table Guatemalan Personal Accident Insurance - Gross Written Premium (GTQ Million), 2010-2014
        • Table Guatemalan Personal Accident Insurance - Gross Written Premium (GTQ Million), 2014-2019
      • Health insurance
        • Table Guatemalan Health Insurance - Gross Written Premium (GTQ Billion), 2010-2014
        • Table Guatemalan Health Insurance - Gross Written Premium (GTQ Billion), 2014-2019
      • Travel insurance
        • Table Guatemalan Travel Insurance - Gross Written Premium (GTQ Million), 2010-2014
        • Table Guatemalan Travel Insurance - Gross Written Premium (GTQ Million), 2014-2019
    • Reinsurance
      • Table Guatemalan Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (GTQ Million), 2010-2014
      • Table Guatemalan Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2010-2014
      • Table Guatemalan Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (GTQ Million), 2014-2019
      • Table Guatemalan Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2014-2019
      • Table Guatemalan Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
      • Table Guatemalan Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
      • Table Guatemalan Non-Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
      • Table Guatemalan Non-Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
      • Table Guatemalan Personal Accident and Health Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
      • Table Guatemalan Personal Accident and Health Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
  • Natural Hazards
    • Storms
    • Floods
    • Landslides
    • Volcanoes
    • Earthquake
    • Drought
    • Exposure
      • Table Guatemala Exposure to Natural Hazards, 1990-2014
  • Competitive Landscape
    • Overview
      • Table Guatemalan Insurance Industry - Market Shares, 2014
    • Leading Companies
      • Seguros El Roble SA - company overview
        • Table Seguros El Roble SA - Key Facts
      • Seguros G&T SA - company overview
        • Table Seguros G&T SA - Key Facts
      • Aseguradora General SA - company overview
        • Table Aseguradora General SA - Key Facts
      • Mapfre Seguros Guatemala SA - company overview
        • Table Mapfre | Seguros Guatemala SA - Key Facts
      • Aseguradora Rural SA - company overview
        • Table Seguros Universales SA - Key Facts
  • Governance, Risk and Compliance
    • Table Guatemala - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Guatemala - Life Insurance Regulatory Framework
      • Property insurance
        • Table Guatemala - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Guatemala - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Guatemala - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Social security insurance
      • Insurance for transportation of petroleum products
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Association of Insurance Supervisors Latin America
      • Superintendencia de Bancos de Guatemala
      • Guatemalan Association of Insurance Institutions (Asociación Guatemalteca de Instituciones de Seguros - AGIS)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
        • Table Guatemala - Capital Requirements for Insurers
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Guatemala - Corporation Tax Rates for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Definitions and Methodology
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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