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Non-Life Insurance in Ecuador, Key Trends and Opportunities to 2021

Non-Life Insurance in Ecuador, Key Trends and Opportunities to 2021

Synopsis

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

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the Ecuadorian insurance industry, 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 'Non-Life Insurance in Ecuador, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Ecuadorian non-life insurance segment, including:

  • The Ecuadorian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Ecuadorian economy and demographics
  • A comparison of the Ecuadorian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Ecuadorian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Ecuadorian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Ecuador
  • Details of regulatory policy applicable to the Ecuadorian insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Ecuador:
  • It provides historical values for the Ecuadorian non-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 non-life insurance segment, and market forecasts to 2021.
  • It provides a comparison of the Ecuadorian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Ecuador.
  • It analyzes various natural hazards and their impact on the Ecuadorian insurance industry
  • It profiles the top non-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 non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Ecuadorian non-life insurance segment.
  • Assess the competitive dynamics in the non-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
  • Ecuadorian non-life segment is concentrated, with the 10 leading insurers accounting for 73.8% of the segment’s direct written premium in 2016.
  • Property insurance was the leading non-life insurance category during the review period.
  • The increase in car theft prompted an increase in the demand for motor insurance during the review period.
  • The liability category has significant untapped potential in Ecuador, but requires government support and business opportunities to increase its market share.


  • Key Facts and Highlights
    • Table Ecuadorian Non-Life Insurance - Key Facts, 2016
    • Table Ecuadorian Non-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 Non-Life Insurance - Gross Written Premium (US$ Billion), 2012-2016
        • Table Ecuadorian Non-Life Insurance - Penetration (%), 2012-2016
        • Table Ecuadorian Non-Life Insurance - Gross Written Premium (US$ Billion), 2016-2021
        • Table Ecuadorian Non-Life Insurance - Penetration (%), 2016-2021
        • Table Ecuadorian Non-Life Insurance - Premium per Capita (US$), 2012-2016
        • Table Ecuadorian Non-Life Insurance - Premium per Capita (US$), 2016-2021
      • Claims
        • Table Ecuadorian Non-Life Insurance - Paid Claims (US$ Million), 2012-2016
        • Table Ecuadorian Non-Life Insurance - Paid Claims (US$ Million), 2016-2021
      • Profitability
        • Table Ecuadorian Non-Life Insurance - Profitability Ratio (%), 2012-2016
        • Table Ecuadorian Non-Life Insurance - Profitability Ratio (%), 2016-2021
      • Assets and investments
        • Table Ecuadorian Non-Life Insurance - Total Assets (US$ Billion), 2012-2016
        • Table Ecuadorian Non-Life Insurance - Total Assets (US$ Billion), 2016-2021
        • Table Ecuadorian Non-Life Insurance - Total Investment Income (US$ Million), 2012-2016
        • Table Ecuadorian Non-Life Insurance - Total Investment Income (US$ Million), 2016-2021
        • Table Ecuadorian Non-Life Insurance - Investment Portfolio (US$ Million), 2012-2016
        • Table Ecuadorian Non-Life Insurance - Investment Portfolio (US$ Million), 2016-2021
  • Outlook by Category
    • Table Ecuadorian Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2012-2016
    • Table Ecuadorian Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2016-2021
    • Property Insurance
      • Product overview
      • Premium
        • Table Ecuadorian Property Insurance - Direct Written Premium by Sub-Category (US$ Million), 2012-2016
        • Table Ecuadorian Property Insurance - Direct Written Premium by Sub-Category (US$ Million), 2016-2021
      • Claims
        • Table Ecuadorian Property Insurance - Paid Claims (US$ Million), 2012-2016
        • Table Ecuadorian Property Insurance - Paid Claims (US$ Million), 2016-2021
      • Profitability
        • Table Ecuadorian Property Insurance - Loss Ratio (%), 2012-2016
        • Table Ecuadorian Property Insurance - Loss Ratio (%), 2016-2021
    • Motor Insurance
      • Product overview
      • Premium
        • Table Ecuadorian Motor Insurance - Direct Written Premium by Sub-Category (US$ Million), 2012-2016
        • Table Ecuadorian Motor Insurance - Direct Written Premium by Sub-Category (US$ Million), 2016-2021
      • Claims
        • Table Ecuadorian Motor Insurance - Paid Claims (US$ Million), 2012-2016
        • Table Ecuadorian Motor Insurance - Paid Claims (US$ Million), 2016-2021
      • Profitability
        • Table Ecuadorian Motor Insurance - Loss Ratio (%), 2012-2016
        • Table Ecuadorian Motor Insurance - Loss Ratio (%), 2016-2021
    • Liability Insurance
      • Product overview
      • Premium
        • Table Ecuadorian Liability Insurance - Direct Written Premium (US$ Million), 2012-2016
        • Table Ecuadorian Liability Insurance - Direct Written Premium (US$ Million), 2016-2021
      • Claims
        • Table Ecuadorian Liability Insurance - Paid Claims (US$ Million), 2012-2016
        • Table Ecuadorian Liability Insurance - Paid Claims (US$ Million), 2016-2021
      • Profitability
        • Table Ecuadorian Liability Insurance - Loss Ratio (%), 2012-2016
        • Table Ecuadorian Liability Insurance - Loss Ratio (%), 2016-2021
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Ecuadorian Transport Network - Global Rankings
      • Premium
        • Table Ecuadorian Marine, Aviation and Transit Insurance - Direct Written Premium (US$ Million), 2012-2016
        • Table Ecuadorian Marine, Aviation and Transit Insurance - Direct Written Premium (US$ Million), 2016-2021
      • Claims
        • Table Ecuadorian Marine, Aviation and Transit Insurance - Paid Claims (US$ Million), 2012-2016
        • Table Ecuadorian Marine, Aviation and Transit Insurance - Paid Claims (US$ Million), 2016-2021
      • Profitability
        • Table Ecuadorian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2012-2016
        • Table Ecuadorian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2016-2021
  • Distribution Channel Outlook
    • Brokers
    • Agencies
    • Direct marketing
    • Bancassurance
    • E-commerce
  • Natural and Man-Made Hazards
    • Flooding and Landslides
    • Droughts
    • Earthquakes
    • Volcanic Eruptions
    • Exposure
  • Competitive Landscape
    • Table Ecuadorian Non-Life Segment - Market Shares of Leading Insurers (%), 2016
    • Company Profiles
      • Seguros Sucre SA - company overview
        • Table Seguros Sucre SA - Key Facts
        • Table Seguros Sucre SA - Key Financials (US$ Million), 2012-2016
      • Seguros Equinoccial - company overview
        • Table Seguros Equinoccial - Key Facts
        • Table Seguros Equinoccial - Key Financials (US$ Million), 2012-2016
      • QBE Seguros Colonial SA - company overview
        • Table QBE Seguros Colonial SA - Key Facts
        • Table QBE Seguros Colonial 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
      • Aseguradora Del Sur CA - company overview
        • Table Aseguradora Del Sur CA - Key Facts
        • Table Aseguradora Del Sur CA - 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 Insurance Industry - Policies and Premium, 2012-2016
      • Table Ecuadorian Insurance Industry - Policies and Premium, 2016-2021
    • Claims and Expenses
      • Table Ecuadorian Non-Life Insurance - Claims and Expenses, 2012-2016
      • Table Ecuadorian Non-Life Insurance - Claims and Expenses, 2016-2021
    • Assets and Investments
      • Table Ecuadorian Non-Life Insurance - Assets and Investments, 2012-2016
      • Table Ecuadorian Non-Life Insurance - Assets and Investments, 2016-2021
    • Property Insurance
      • Table Ecuadorian Non-Life Insurance - Property Insurance, 2012-2016
      • Table Ecuadorian Non-Life Insurance - Property Insurance, 2016-2021
    • Property Insurance by Product
      • Table Ecuadorian Non-Life Insurance - Property Insurance by Product, 2012-2016
      • Table Ecuadorian Non-Life Insurance - Property Insurance by Product, 2016-2021
    • Motor Insurance
      • Table Ecuadorian Non-Life Insurance - Motor Insurance, 2012-2016
      • Table Ecuadorian Non-Life Insurance - Motor Insurance, 2016-2021
    • Liability Insurance
      • Table Ecuadorian Non-Life Insurance - Liability Insurance, 2012-2016
      • Table Ecuadorian Non-Life Insurance - Liability Insurance, 2016-2021
    • Marine, Aviation and Transit Insurance
      • Table Ecuadorian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
      • Table Ecuadorian Non-Life Insurance - Marine, Aviation and Transit 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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