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The Insurance Industry in Puerto Rico, Key Trends and Opportunities to 2019

The Insurance Industry in Puerto Rico, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'The Insurance Industry in Puerto Rico, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Puerto Rican 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 Puerto Rican 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. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

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

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

This report provides a comprehensive analysis of the insurance industry in Puerto Rico:
  • It provides historical values for the Puerto Rican 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 Puerto Rican insurance industry, with 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 Puerto Rico.
  • It profiles the top insurance companies in Puerto Rico 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 Puerto Rican insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Puerto Rican insurance industry.
  • Assess the competitive dynamics in the Puerto Rican insurance industry.
  • Identify growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Puerto Rican insurance industry and their impact on companies and the industry's future.
Key Highlights
  • The unfavorable economic environment and lack of job opportunities have increased emigration from Puerto Rico.
  • The life segment recorded a review-period CAGR of 11.5%, whereas the non-life segment recorded a CAGR of 0.2%.
  • Rises in the aging population and life expectancy supported the segment’s growth during the review period. However, the shrinking population and increasing emigration limited life insurance’s review-period growth.
  • Property insurance, in terms of direct written premium, led the segment during the review period. The category’s direct written premium is expected to grow over the forecast period, primarily as a result of rising construction activities and government expenditure on infrastructure projects.
  • The Puerto Rican construction sector grew during the review period, driven by government and private investment in infrastructure projects.
  • Health insurance was the largest category, accounting for 99.7% of the segment’s gross written premium in 2014.


  • Key Facts and Highlights
    • Table Puerto Rican Insurance Industry - Key Facts
    • Table Puerto Rican Insurance Industry- Shares of the Top Insurers, 2014
  • Executive Summary
  • Economy and Demographics
    • Table Puerto Rican Government Credit Ratings
  • Life Insurance
    • Table Puerto Rican Life Insurance - Gross Written Premium by Sub-Segment (US$ Million), 2010-2014
    • Table Puerto Rican Life Insurance - Gross Written Premium by Sub-Segment (US$ Million), 2014-2019
    • Table Puerto Rican Life Insurance Segmentation by Gross Written Premium (Percentage Share), 2010-2019
    • Table Puerto Rican Life Insurance - Direct Written Premium by Sub-Segment (US$ Million), 2010-2014
    • Table Puerto Rican Life Insurance - Direct Written Premium by Sub-Segment (US$ Million), 2014-2019
    • Table Puerto Rican Life Insurance Segmentation by Direct Written Premium (Percentage Share), 2010-2019
    • Table Puerto Rican Life Insurance - Total Assets (US$ Billion), 2010-2014
    • Table Puerto Rican Life Insurance - Total Assets (US$ Billion), 2014-2019
    • Table Puerto Rican Life Insurance - Total Investment Income (US$ Million), 2010-2014
    • Table Puerto Rican Life Insurance - Total Investment Income (US$ Million), 2014-2019
    • Individual Life Insurance
      • Table Puerto Rican Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Puerto Rican Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Puerto Rican Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Puerto Rican Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
    • Group Life Insurance
      • Table Puerto Rican Group Life Insurance - Gross Written Premium (US$ Million), 2010-2014
      • Table Puerto Rican Group Life Insurance - Gross Written Premium (US$ Million), 2014-2019
    • Life Insurance by Category
      • Individual whole life insurance
        • Table Puerto Rican Individual Whole Life Insurance - Gross Written Premium (US$ Million), 2010-2014
        • Table Puerto Rican Individual Whole Life Insurance - Gross Written Premium (US$ Million), 2014-2019
      • Individual general annuity insurance
        • Table Puerto Rican Individual General Annuity Insurance - Gross Written Premium (US$ Million), 2010-2014
        • Table Puerto Rican Individual General Annuity Insurance - Gross Written Premium (US$ Million), 2014-2019
      • Other individual insurance
        • Table Puerto Rican Other Individual Insurance - Gross Written Premium (US$ Million), 2010-2014
        • Table Puerto Rican Other Individual Insurance - Gross Written Premium (US$ Million), 2014-2019
  • Non-Life Insurance
    • Table Puerto Rican Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
    • Table Puerto Rican Non-Life Insurance - Paid Claims (US$ Million), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Paid Claims (US$ Million), 2014-2019
    • Table Puerto Rican Non-Life Insurance - Incurred Loss (US$ Million), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Incurred Loss (US$ Million), 2014-2019
    • Table Puerto Rican Non-Life Insurance - Loss Ratio (%), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Loss Ratio (%), 2014-2019
    • Table Puerto Rican Non-Life Insurance - Combined Ratio (%), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Combined Ratio (%), 2014-2019
    • Table Puerto Rican Non-Life Insurance - Total Assets (US$ Billion), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Total Assets (US$ Billion), 2014-2019
    • Table Puerto Rican Non-Life Insurance - Total Investment Income (US$ Million), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Total Investment Income (US$ Million), 2014-2019
    • Table Puerto Rican Non-Life Insurance - Net Written Premiums (US$ Billion), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Net Written Premiums (US$ Billion), 2014-2019
  • Personal Accident and Health Insurance
    • Table Puerto Rican Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
    • Table Puerto Rican Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
    • Table Puerto Rican Personal Accident and Health Insurance - Incurred Loss (US$ Billion), 2010-2014
    • Table Puerto Rican Personal Accident and Health Insurance - Incurred Loss (US$ Billion), 2014-2019
    • Table Puerto Rican Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
    • Table Puerto Rican Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
    • Table Puerto Rican Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
    • Table Puerto Rican Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
    • Table Puerto Rican Personal Accident and Health Insurance - Total Assets (US$ Billion), 2010-2014
    • Table Puerto Rican Personal Accident and Health Insurance - Total Assets (US$ Billion), 2014-2019
  • Reinsurance
    • Table Puerto Rican Reinsurance - Premiums Ceded (Excluding Retrocession) by Non-Life Insurance Segment (US$ Million), 2010-2014
    • Table Puerto Rican Reinsurance - Premiums Ceded (Excluding Retrocession) by Non-Life Insurance Segment (US$ Million), 2014-2019
    • Table Puerto Rican Non-Life Insurance - Percentage of Premiums Ceded, Excluding Retrocession (%), 2010-2014
    • Table Puerto Rican Non-Life Insurance - Percentage of Premiums Ceded, Excluding Retrocession (%), 2014-2019
  • Natural Hazards
    • Table Puerto Rican Average Annual Loss by Hazard (US$ Million), 1990-2014
    • Floods
    • Hurricanes
    • Droughts
    • Exposure
  • Distribution Channel Outlook
  • Competitive Landscape
    • Overview
      • Table Puerto Rican Insurance Industry - Market Shares, 2014
    • Leading Companies
      • MCS Advantage, Inc. - company overview
        • Table MCS Advantage, Inc. - Key Facts
      • MMM Healthcare, Inc. - company overview
        • Table MMM Healthcare, Inc. - Key Facts
      • Triple-S Salud, Inc. - company overview
        • Table Triple-S Salud, Inc. - Key Facts
      • First Medical Health Plan, Inc. - company overview
        • Table First Medical Health Plan, Inc. - Key Facts
  • Governance, Risk and Compliance
    • Table Puerto Rico - 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 Puerto Rico - Life Insurance Regulatory Framework
      • Property insurance
        • Table Puerto Rico - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Puerto Rico - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Puerto Rico - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Association of Insurance Supervisors Latin America
      • Office of the Commissioner of Insurance
      • National Association of Insurance Commissioners
    • 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 Puerto Rico - Minimum Capital and Surplus Requirement
      • 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 Puerto Rico - Corporate Tax Rates for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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