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Life Insurance in Ecuador, Key Trends and Opportunities to 2021

Life Insurance in Ecuador, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'Life Insurance in Ecuador, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Ecuadorian life insurance segment, and a comparison of the Ecuadorian insurance industry with its regional counterparts.

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 (2012–2016) and forecast period (2016–2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Ecuadorian 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 'Life Insurance in Ecuador, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Ecuadorian life insurance segment, including:

  • An overview of the Ecuadorian life insurance segment
  • The Ecuadorian life insurance segment’s growth prospects by category
  • A comprehensive overview of the Ecuadorian economy and demographics
  • A comparison of the Ecuadorian life insurance segment with its regional counterparts
  • The various distribution channels in the Ecuadorian life insurance segment
  • Details of the competitive landscape in the life insurance segment in Ecuador
  • Details of regulatory policy applicable to the Ecuadorian insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Ecuador:
  • It provides historical values for the Ecuadorian life insurance segment for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.
  • It offers a detailed analysis of the key categories in the Ecuadorian life insurance segment, and market forecasts to 2021.
  • It provides a comparison of the Ecuadorian life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in Ecuador.
  • It profiles the top life insurance companies in Ecuador 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 Ecuadorian life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Ecuadorian life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Ecuadorian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Ecuadorian life segment is concentrated, with the 10 leading companies accounting for 88.6% of the segment’s direct written premium in 2016.
  • Microinsurance was one of the fastest growing industries in Ecuador, and had the second highest coverage ratio in Latin America during the review period.
  • The segment’s penetration rate stood at 0.35% in 2016.
  • MFIs have been the most important channel for the distribution of microinsurance in the country.


  • Key Facts and Highlights
    • Table Ecuadorian Life Insurance - Key Facts, 2016
    • Table Ecuadorian Life Insurance - Segment Shares of the Top Insurers, 2016
  • Executive Summary
  • Economy and Demographics
    • Table Ecuadorian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Ecuadorian Life Insurance - Gross Written Premium (US$ Million), 2012-2016
        • Table Ecuadorian Life Insurance - Penetration (%), 2012-2016
        • Table Ecuadorian Life Insurance - Gross Written Premium (US$ Million), 2016-2021
        • Table Ecuadorian Life Insurance - Penetration (%), 2016-2021
        • Table Ecuadorian Life Insurance - Premium per Capita (US$), 2012-2016
        • Table Ecuadorian Life Insurance - Premium per Capita (US$), 2016-2021
      • Claims
        • Table Ecuadorian Life Insurance - Paid Claims (US$ Million), 2012-2016
        • Table Ecuadorian Life Insurance - Paid Claims (US$ Million), 2016-2021
      • Assets and investments
        • Table Ecuadorian Life Insurance - Total Assets (US$ Million), 2012-2016
        • Table Ecuadorian Life Insurance - Total Assets (US$ Million), 2016-2021
        • Table Ecuadorian Life Insurance - Total Investment Income (US$ Million), 2012-2016
        • Table Ecuadorian Life Insurance - Total Investment Income (US$ Million), 2016-2021
        • Table Ecuadorian Life Insurance - Investment Portfolio (US$ Million), 2012-2016
        • Table Ecuadorian Life Insurance - Investment Portfolio (US$ Million), 2016-2021
  • Outlook by Sub-Segment
    • Table Ecuadorian Life Insurance - Direct Written Premium by Sub-Segment (US$ Million), 2012-2016
    • Table Ecuadorian Life Insurance - Direct Written Premium by Sub-Segment (US$ Million), 2016-2021
    • Individual Life Insurance
      • Penetration
    • Group Life Insurance
      • Penetration
  • Distribution Channel Outlook
  • Competitive Landscape
    • Table Ecuadorian Life Segment - Market Shares of Leading Insurers (%), 2016
    • Company Profiles
      • Seguros del Pichincha SA - company overview
        • Table Seguros del Pichincha SA - Key Facts
        • Table Seguros del Pichincha SA - Key Financials (US$ Million), 2012-2016
      • Equivida SA - company overview
        • Table Equivida SA - Key Facts
        • Table Equivida SA - Key Financials (US$ Million), 2012-2016
      • Seguros Sucre SA - company overview
        • Table Seguros Sucre SA - Key Facts
        • Table Seguros Sucre SA - Key Financials (US$ Million), 2012-2016
      • Chubb Seguros Ecuador SA - company overview
        • Table Chubb Seguros Ecuador SA - Key Facts
        • Table Chubb Seguros Ecuador SA - Key Financials (US$ Million), 2012-2016
      • AIG Metropolitana Cia. De Seguros y Reaseguros SA - company overview
        • Table AIG Metropolitana Cia. De Seguros y Reaseguros SA - Key Facts
        • Table AIG Metropolitana Cia. De Seguros y Reaseguros SA - Key Financials (US$ Million), 2012-2016
  • Governance, Risk and Compliance
    • Table Ecuador - 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 Ecuador - Life Insurance Regulatory Framework
      • Property insurance
        • Table Ecuador - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Ecuador - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Ecuador - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Traffic accident insurance
        • Table Ecuador - Compensation Provided by the Insurer in the Event of Accident
        • Table Ecuador - List of Companies Authorized to Offer SOAT
      • General insurance under the Social Security Act
      • Aviation insurance
        • Table Ecuador - Aviation Insurance Cover
      • Fire insurance for condominiums
      • Social security system
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Association of Insurance Supervisors Latin America
      • Superintendency of Securities and Insurance Companies
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
        • Table Ecuador - Ratings Required for Registration of Reinsurance Business
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table Ecuador - Taxes and Charges Levied on Insurance Premiums
        • Table Ecuador - Issuing Fees Charged to the Insured by Insurer Based on Value of Premiums
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Ecuador - Corporate Tax Rates in Ecuador for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Ecuadorian Life Insurance - Policies and Premium, 2012-2016
      • Table Ecuadorian Life Insurance - Policies and Premium, 2016-2021
    • Claims and Expenses
      • Table Ecuadorian Life Insurance - Claims and Expenses, 2012-2016
      • Table Ecuadorian Life Insurance - Claims and Expenses, 2016-2021
    • Assets and Investments
      • Table Ecuadorian Life Insurance - Assets and Investments, 2012-2016
      • Table Ecuadorian Life Insurance - Assets and Investments, 2016-2021
    • Individual Life Insurance
      • Table Ecuadorian Life Insurance - Individual Life Insurance, 2012-2016
      • Table Ecuadorian Life Insurance - Individual Life Insurance, 2016-2021
    • Group Life Insurance
      • Table Ecuadorian Life Insurance - Group Life Insurance, 2012-2016
      • Table Ecuadorian Life Insurance - Group Life Insurance, 2016-2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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