Home (re) Insurance Latin America 2018 Ranking of insurance groups in Latin America

2018 Ranking of insurance groups in Latin America

3 min read

The 2018 Ranking of insurance groups in Latin America classifies the largest groups operating in the insurance market of Latin America by premium volume.

At the same time, this report also aims to give a dynamic view of its trends, from the perspective of its growth and its concentration. In order to distinguish between structural trends and occasional situations related to the annual performance of these groups, the analysis has been split, considering both the dynamics observed during the last decade (2008-2018) and the specific performance presented in the last year (2017-2018).

As in previous editions, the report also includes an analysis of the concentration of the Latin American insurance industry.

The information presented in this report shows that, in 2018, the insurance industry in the region reached 150.3 billion US dollars in premiums, representing a drop of -5.2% on the previous year. This fall was brought about in no small measure by the devaluation of some of the main Latin American currencies during that year. In this context, the Non-Life insurance line decreased by -3.7%, losing 3 billion US dollars along the way, while the Life insurance line decreased by -7% (5 billion US dollars less than 2017).

A positive reading, however, is that the concentration levels of the Latin American insurance industry have fallen from the previous year, motivated by the decrease in concentration rates in the Life insurance segment.

It should be noted that, regardless of the performance of the Latin American insurance market in 2018, its concentration levels remain minimal (with a Herfindahl Index of 231 in 2018 versus 267 in 2017), with an almost non-existent concentration in the Non-Life insurance segment (198) and a concentration almost three times higher in the Life insurance business (569). However, according to the accepted theoretical parameters, in both market segments the concentration of the industry is considered low and therefore these markets maintain high levels of competition, benefiting the efficiency of the sector and creating improved insurance conditions for users of these financial services in the region.

Download the 2018 Ranking of insurance groups in Latin America

Source: Mapfre

About iNLIP

Load More Related Articles
Load More By iNLIP
Load More In (re) Insurance Latin America

Check Also

Howden acquires parametric catastrophe risk specialist MiCRO

The acquisition of MiCRO reflects Howden’s commitment to invest in positive social change …