The Insurance Industry in Uruguay, Key Trends and Opportunities to 2017

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The Insurance Industry in

Uruguay, Key Trends and

Opportunities to 2017

Category : Banking & Finance

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Introduction to Report

Launch Date: February 5, 2014

Number of Pages: 372

Geography Coverage: Uruguay

Available Format: PDF

Price For Single User License: USD 1,950

Price For Site License: USD 3,900

Price For Global User License: USD 5,850

Delivery Time: Within 24 Hours (During Working Days)



About the Report

Unlike most Latin American countries, Uruguay was able to avoid recession during 2008–2009, with GDP rising by 2.9% in 2009. The gross written premium of the insurance industry registered a CAGR of 18.9% to value UYU21.6 billion (US$1.1 billion) in 2012. The penetration rate of the industry also rose, from 1.7% in 2008 to 2.2% in 2012.

The industry is very competitive, and since its liberalization in 1993 the number of private insurance companies has increased; there were 16 insurers operating in the insurance industry in 2012. Nonetheless, state-owned insurer Banco de Seguros del Estado (BSE) continued to lead the industry with a 69.3% share of gross written premium in 2012.



Research Findings

The non-life segment accounted for 70.3% of the industry’s gross written premium in 2012. Motor insurance accounted for 42% of the segment’s gross written premium in 2012, followed by general liability insurance with 38.5%

The life segment registered the fastest CAGR of 26.7% during the review period, as a result of an increase in demand for pension products which recorded a CAGR of 37% with a gross written premium of UYU2.8 billion (US$0.13 billion) in 2012



Research Findings Continues..

There were 16 insurers operating in the insurance industry in 2012. Nonetheless, state-owned insurer Banco de Seguros del Estado (BSE) continued to lead the industry with a 69.3% share of gross written premium in 2012

Unlike most Latin American countries, Uruguay was able to avoid recession during 2008–2009, with GDP rising by 2.9% in 2009

Stable economic growth, expanding tourism and rising disposable income will act as major drivers over the forecast period (2012-2017)



Scope

It provides historical values for the Uruguayan insurance industry for the report’s 2008–2012 review period and expected figures for the 2012–2017 forecast period.

It offers a detailed analysis of the key segments and categories in the Uruguayan insurance industry, along with forecasts until 2017.

It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.

It profiles the top insurance companies in Uruguay, and outlines the key regulations affecting them.



Report Coverage

1. Executive Summary2. Introduction3. Bulgarian Insurance Industry Attractiveness4. Life Insurance Outlook5. Analysis by Distribution Channel6. Regulatory Policies7. Porter’s Five Forces Analysis – Bulgarian Life Insurance8. Reinsurance Growth Dynamics and Challenges9. Competitive Landscape and Strategic Insights10.Business Environment and Country Risk11.Appendix

For more details regarding Report coverage see the last slide




Company Coverage (Partial List)

For more details regarding company coverage and TOC see the last slide




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