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

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

Synopsis

Timetric’s 'Non-Life Insurance in Uruguay, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Uruguayan non-life insurance segment, and a comparison of the Uruguayan 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 Uruguayan economy and demographics, explains the various types of natural hazard and their impact on the Uruguayan 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 Uruguay, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Uruguayan non-life insurance segment, including:

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

This report provides a comprehensive analysis of the non-life insurance segment in Uruguay:
  • It provides historical values for the Uruguayan 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 Uruguayan non-life insurance segment, and market forecasts to 2021.
  • It provides a comparison of the Uruguayan non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Uruguay.
  • It analyzes various natural hazards and their impact on the Uruguayan insurance industry
  • It profiles the top non-life insurance companies in Uruguay, 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 Uruguayan non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Uruguayan 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 Uruguayan insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The non-life segment is highly concentrated, with the five leading insurers accounting for 92.7% of the segment’s gross written premium in 2016.
  • In October 2016, Fairfax Financial Holding Ltd agreed to acquire AIG Inc.’s operations in Uruguay and other Latin American countries including Argentina, Columbia, Chile and Venezuela. The deal will strengthen Fairfax’s network in Latin America.
  • Property insurance was the second-largest category, accounting for 31.2% of the non-life direct written premium in 2016.


  • Key Facts and Highlights
    • Table Uruguayan Non-Life Insurance - Key Facts, 2016
    • Table Uruguayan Non-Life Insurance - Segment Shares of the Top Insurers, 2016
  • Executive Summary
  • Economy and Demographics
    • Table Uruguayan Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Uruguayan Non-Life Insurance - Gross Written Premium (UYU Billion and US$ Million), 2012-2016
        • Table Uruguayan Non-Life Insurance - Penetration (%), 2012-2016
        • Table Uruguayan Non-Life Insurance - Gross Written Premium (UYU Billion and US$ Million), 2016-2021
        • Table Uruguayan Non-Life Insurance - Penetration (%), 2016-2021
        • Table Uruguayan Non-Life Insurance - Premium per Capita (UYU and US$), 2012-2016
        • Table Uruguayan Non-Life Insurance - Premium per Capita (UYU and US$), 2016-2021
      • Claims
        • Table Uruguayan Non-Life Insurance - Paid Claims (UYU Billion and US$ Million), 2012-2016
        • Table Uruguayan Non-Life Insurance - Paid Claims (UYU Billion and US$ Million), 2016-2021
      • Profitability
        • Table Uruguayan Non-Life Insurance - Profitability Ratio (%), 2012-2016
        • Table Uruguayan Non-Life Insurance - Profitability Ratio (%), 2016-2021
      • Assets and investments
        • Table Uruguayan Non-Life Insurance - Total Assets (UYU Billion and US$ Billion), 2012-2016
        • Table Uruguayan Non-Life Insurance - Total Assets (UYU Billion and US$ Billion), 2016-2021
        • Table Uruguayan Non-Life Insurance - Total Investment Income (UYU Billion and US$ Million), 2012-2016
        • Table Uruguayan Non-Life Insurance - Total Investment Income (UYU Billion and US$ Million), 2016-2021
        • Table Uruguayan Non-Life Insurance - Investment Portfolio (UYU Billion), 2012-2016
        • Table Uruguayan Non-Life Insurance - Investment Portfolio (UYU Billion), 2016-2021
  • Outlook by Category
    • Table Uruguayan Non-Life Insurance - Direct Written Premium by Category (UYU Billion), 2012-2016
    • Table Uruguayan Non-Life Insurance - Direct Written Premium by Category (UYU Billion), 2016-2021
    • Property Insurance
      • Product overview
      • Premium
        • Table Uruguayan Property Insurance - Direct Written Premium by Sub-Category (UYU Billion), 2012-2016
        • Table Uruguayan Property Insurance - Direct Written Premium by Sub-Category (UYU Billion), 2016-2021
      • Claims
        • Table Uruguayan Property Insurance - Paid Claims (UYU Billion and US$ Million), 2012-2016
        • Table Uruguayan Property Insurance - Paid Claims (UYU Billion and US$ Million), 2016-2021
      • Profitability
        • Table Uruguayan Property Insurance - Loss Ratio (%), 2012-2016
        • Table Uruguayan Property Insurance - Loss Ratio (%), 2016-2021
    • Motor Insurance
      • Product overview
      • Premium
        • Table Uruguayan Motor Insurance - Direct Written Premium (UYU Billion), 2012-2016
        • Table Uruguayan Motor Insurance - Direct Written Premium (UYU Billion), 2016-2021
      • Claims
        • Table Uruguayan Motor Insurance - Paid Claims (UYU Billion and US$ Million), 2012-2016
        • Table Uruguayan Motor Insurance - Paid Claims (UYU Billion and US$ Million), 2016-2021
      • Profitability
        • Table Uruguayan Motor Insurance - Loss Ratio (%), 2012-2016
        • Table Uruguayan Motor Insurance - Loss Ratio (%), 2016-2021
    • Liability Insurance
      • Product overview
      • Premium
        • Table Uruguayan Liability Insurance - Direct Written Premium (UYU Million and US$ Million), 2012-2016
        • Table Uruguayan Liability Insurance - Direct Written Premium (UYU Million and US$ Million), 2016-2021
      • Claims
        • Table Uruguayan Liability Insurance - Paid Claims (UYU Million and US$ Million), 2012-2016
        • Table Uruguayan Liability Insurance - Paid Claims (UYU Million and US$ Million), 2016-2021
      • Profitability
        • Table Uruguayan Liability Insurance - Loss Ratio (%), 2012-2016
        • Table Uruguayan Liability Insurance - Loss Ratio (%), 2016-2021
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Uruguayan Transport Network - Global Rankings, 2016
      • Premium
        • Table Uruguayan Marine, Aviation and Transit Insurance - Direct Written Premium (UYU Million and US$ Million), 2012-2016
        • Table Uruguayan Marine, Aviation and Transit Insurance - Direct Written Premium (UYU Million and US$ Million), 2016-2021
      • Claims
        • Table Uruguayan Marine, Aviation and Transit Insurance - Paid Claims (UYU Million and US$ Million), 2012-2016
        • Table Uruguayan Marine, Aviation and Transit Insurance - Paid Claims (UYU Million and US$ Million), 2016-2021
      • Profitability
        • Table Uruguayan Marine, Aviation and Transit Insurance - Loss Ratio (%), 2012-2016
        • Table Uruguayan Marine, Aviation and Transit Insurance - Loss Ratio (%), 2016-2021
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Table Uruguay - Average Annual Loss by Hazard, 1990-2014
    • Flooding
    • Droughts
    • Storms
    • Exposure
  • Competitive Landscape
    • Table Uruguayan Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2016
    • Company Profiles
      • Banco de Seguros del Estado - company overview
        • Table Banco de Seguros del Estado - Key Facts
        • Table Banco de Seguros del Estado - Key Financials (UYU Million), 2012-2016
      • Seguros Sura SA - company overview
        • Table Seguros Sura SA - Key Facts
        • Table Seguros Sura SA - Key Financials (UYU Million), 2012-2016
      • Mapfre Uruguay Compañia de Seguros SA (Grales) - company overview
        • Table Mapfre Uruguay Compañia de Seguros SA (Grales)- Key Facts
        • Table Mapfre Uruguay Compañia de Seguros SA (Grales)- Key Financials (UYU Million), 2012-2016
      • Porto Seguro - Seguros del Uruguay SA - company overview
        • Table Porto Seguro - Seguros del Uruguay SA - Key Facts
        • Table Porto Seguro - Seguros del Uruguay SA - Key Financials (UYU Million), 2012-2016
      • Sancor Seguros SA - company overview
        • Table Sancor Seguros SA - Key Facts
        • Table Sancor Seguros SA - Key Financials (UYU Million), 2012-2016
  • Governance, Risk and Compliance
    • Table Uruguay - 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 Uruguay - Life Insurance Regulatory Framework
      • Property insurance
        • Table Uruguay - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Uruguay - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Uruguay - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Workers' compensation insurance
      • Motor third-party liability insurance
      • Liability for ships with respect to oil pollution
      • Aviation liability insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Association of Insurance Supervisors Latin America
      • Superintendence of Insurance and Reinsurance
      • Asociación Uruguaya de Empresas Aseguradoras
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • 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 taxations
        • Table Uruguay - Insurance Premium Tax Rates
      • Withholding taxes on premium paid overseas.
      • Corporate tax
        • Table Uruguay - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Uruguayan Insurance Industry - Policies and Premium, 2012-2016
      • Table Uruguayan Insurance Industry - Policies and Premium, 2016-2021
    • Claims and Expenses
      • Table Uruguayan Non-Life Insurance - Claims and Expenses, 2012-2016
      • Table Uruguayan Non-Life Insurance - Claims and Expenses, 2016-2021
    • Assets and Investments
      • Table Uruguayan Non-Life Insurance - Assets and Investments, 2012-2016
      • Table Uruguayan Non-Life Insurance - Assets and Investments, 2016-2021
    • Property Insurance
      • Table Uruguayan Non-Life Insurance - Property Insurance, 2012-2016
      • Table Uruguayan Non-Life Insurance - Property Insurance, 2016-2021
    • Property Insurance by Product
      • Table Uruguayan Non-Life Insurance - Property Insurance by Product, 2012-2016
      • Table Uruguayan Non-Life Insurance - Property Insurance by Product, 2016-2021
    • Motor Insurance
      • Table Uruguayan Non-Life Insurance - Motor Insurance, 2012-2016
      • Table Uruguayan Non-Life Insurance - Motor Insurance, 2016-2021
    • Liability Insurance
      • Table Uruguayan Non-Life Insurance - Liability Insurance, 2012-2016
      • Table Uruguayan Non-Life Insurance - Liability Insurance, 2016-2021
    • Marine, Aviation and Transit Insurance
      • Table Uruguayan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
      • Table Uruguayan 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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