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Non-Life Insurance in Venezuela, Key Trends and Opportunities to 2020

Non-Life Insurance in Venezuela, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Non-Life Insurance in Venezuela, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Venezuelan non-life insurance segment, and a comparison of the Venezuelan 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 (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Venezuelan economy and demographics, explains the various types of natural hazard and their impact on the Venezuelan 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 Venezuela, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Venezuelan non-life insurance segment, including:

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

This report provides a comprehensive analysis of the non-life insurance segment in Venezuela:
  • It provides historical values for the Venezuelan non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Venezuelan non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Venezuelan non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Venezuela.
  • It analyzes various natural hazards and their impact on the Venezuelan insurance industry
  • It profiles the top non-life insurance companies in Venezuela, 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 Venezuelan non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Venezuelan 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 Venezuelan insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • On December 30, 2015, the government amended the minimum capital requirements for insurance companies (Article 19 of the Insurance Activities Act 2010).
  • In 2014, according to Regulation 008, issued by the Venezuelan Ministry of Popular Power for Tourism (MPPT), Aviation third-party liability insurance is mandatory in Venezuela.
  • The insurance penetration of the non-life insurance segment was 1.9% in 2015.


  • Key Facts and Highlights
    • Table Venezuelan Non-Life Insurance - Key Facts, 2015
    • Table Venezuelan Non-Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Venezuelan Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Venezuelan Non-Life Insurance - Gross Written Premium (VEF Billion and US$ Billion), 2011-2015
        • Table Venezuelan Non-Life Insurance - Penetration (%), 2011-2015
        • Table Venezuelan Non-Life Insurance - Gross Written Premium (VEF Trillion and US$ Billion), 2015-2020
        • Table Venezuelan Non-Life Insurance - Penetration (%), 2015-2020
        • Table Venezuelan Non-Life Insurance - Premium per Capita (VEF and US$), 2011-2015
        • Table Venezuelan Non-Life Insurance - Premium per Capita (VEF and US$), 2015-2020
      • Profitability
        • Table Venezuelan Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Venezuelan Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Venezuelan Non-Life Insurance - Total Assets (VEF Billion and US$ Billion), 2011-2015
        • Table Venezuelan Non-Life Insurance - Total Assets (VEF Billion and US$ Billion), 2015-2020
        • Table Venezuelan Non-Life Insurance - Total Investment Income (VEF Billion and US$ Million), 2011-2015
        • Table Venezuelan Non-Life Insurance - Total Investment Income (VEF Billion and US$ Million), 2015-2020
        • Table Venezuelan Non-Life Insurance - Investment Portfolio (VEF Billion), 2011-2015
        • Table Venezuelan Non-Life Insurance - Investment Portfolio (VEF Billion), 2015-2020
  • Outlook by Category
    • Table Venezuelan Non-Life Insurance - Direct Written Premium by Category (VEF Billion), 2011-2015
    • Table Venezuelan Non-Life Insurance - Direct Written Premium by Category (VEF Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Venezuelan Property Insurance - Direct Written Premium by Sub-Category (VEF Billion), 2011-2015
        • Table Venezuelan Property Insurance - Direct Written Premium by Sub-Category (VEF Billion), 2015-2020
    • Motor Insurance
      • Product overview
      • Premium
        • Table Venezuelan Motor Insurance - Direct Written Premium by Sub-Category (VEF Billion), 2011-2015
        • Table Venezuelan Motor Insurance - Direct Written Premium by Sub-Category (VEF Billion), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Venezuelan Liability Insurance - Direct Written Premium by Sub-Category (VEF Billion), 2011-2015
        • Table Venezuelan Liability Insurance - Direct Written Premium by Sub-Category (VEF Billion), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Venezuelan Transport Network - Global Rankings
      • Premium
        • Table Venezuelan Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (VEF Billion), 2011-2015
        • Table Venezuelan Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (VEF Billion), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Brokers
      • Agencies
      • Direct Marketing
      • Bancassurance
      • E-commerce
  • Natural and Man-Made Hazards
    • Flooding
    • Droughts
    • Earthquakes
    • Storms
    • Exposure
  • Competitive Landscape
    • Table Venezuelan Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • Seguros Caracas de Liberty Mutual - company overview
        • Table Seguros Caracas de Liberty Mutual - Key Facts
        • Table Seguros Caracas de Liberty Mutual - Key Financials (VEF Billion), 2011-2015
      • Mercantil Seguros CA - Company overview
        • Table Mercantil Seguros CA - Key Facts
        • Table Mercantil Seguros CA - Key Financials (VEF Billion), 2011-2015
      • Mapfre La Seguridad, CA de Seguros - company overview
        • Table Mapfre La Seguridad, CA de Seguros - Key Facts
        • Table Mapfre La Seguridad, CA de Seguros ntal - Key Financials (VEF Billion), 2011-2015
      • CA de Seguros La Occidental - company overview
        • Table CA de Seguros La Occidental - Key Facts
        • Table CA de Seguros La Occidental - Key Financials (VEF Billion), 2011-2015
      • Pirámide CA, Seguros - company overview
        • Table Pirámide CA, Seguros - Key Facts
        • Table Pirámide CA, Seguros - Key Financials (VEF Million), 2011-2015
  • Governance, Risk and Compliance
    • Table Venezuela - 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 Venezuela - Life Insurance Regulatory Framework
      • Property insurance
        • Table Venezuela - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Venezuela- Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Venezuela - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Travel insurance
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Superintendencia de la Actividad Aseguradora
    • 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 taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Venezuela - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Venezuelan Insurance Industry - Policies and Premium, 2011-2015
      • Table Venezuelan Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Venezuelan Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Venezuelan Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Venezuelan Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Venezuelan Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Venezuelan Non-Life Insurance - Property Insurance, 2011-2015
      • Table Venezuelan Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Venezuelan Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Venezuelan Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Venezuelan Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Venezuelan Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Venezuelan Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Venezuelan Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table Venezuelan Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Venezuelan Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Venezuelan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Venezuelan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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