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Research and Markets: The Latin American Insurance Industry
Experienced A Period Of Steady Growth Over The Past Six Months
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:10102008
Dublin - Research and Markets
(http://www.researchandmarkets.com/research/99a3b2/latin_america_insu)
has announced the addition of the "Latin America Insurance Sectors : A
Company and Industry Analysis (April 2008)" report to their offering.
This updates the previous report on the Latin America insurance
sectors, focusing on the markets in Argentina, Brazil, Chile, Mexico
and Peru
Current Environment
- Key Points
- Although the recent turmoil in the US subprime market spread to the
global economy and financial markets, the Latin American insurance
industry experienced a period of steady growth over the past six months
- In Brazil, the insurance industry enjoyed premium revenue growth of
17.7% to R$27 billion (US$16.05 million) in the first nine months of
2007, compared with R$22.2 billion (US$13.19 billion) in the same
period of 2006, reflecting the buoyant business demand in both life and
liability segments
- In Mexico, there was a 16% increase in net written premiums from
year-earlier levels to MEX$192 billion (US$17.9 billion) in the first
nine months of 2007, largely due to life product sales through the
bancassurance channel and higher property and casualty (P&C) premium
prices
- The devastating floods and earthquakes in mid 2007 boosted growth in
Peru and Chile's insurance businesses, making more people aware of the
need for P&C and life insurance coverage
Industry Profile
- Key Points
- The Latin American insurance industry is mostly dominated by
Brazilian and Mexican companies A Mergent analysis shows that the top
five companies, as defined by total written premiums during a
nine-month period of 2007, generated US$6.44 billion
- The Brazilian insurance industry comprised 131 companies, with six
leading companies, accounting for 68.9% of total market share, as of
June 2007
- The Mexican insurance market remained the second largest insurance
market in the region, generating more than 25% of the total premiums in
the region While the third largest insurance market, Argentina still
had the highest numbers of insurers in the region, with about 180
insurers in 2007
Market Trends and Outlook
- Key Points
- Bancassurance remains an important distribution channel throughout
the region, thanks to advanced financial market integration, structural
changes in the financial markets and insurance industry, and the
influence of foreign insurers experienced in bancassurance entering the
region
- In an effort to reach large groups of consumers, Latin American
commercial insurers and brokers are making a play for corporate
customers- employees through affinity strategies
- With nearly 205 million people living in poverty in Latin America,
microinsurance that provides basic insurance services to low-income
households is set to grow significantly
- Ongoing economic expansion and infrastructure development projects in
Latin America could also provide a bright spot for financial guarantee
insurers, as they could assure that investors are paid both their
principal and interest
- The outlook for the Latin American insurance industry remains
positive in 2008 Rating firm FitchRatings expects that the total
revenue of the Latin American insurance industry will grow by 13.5% in
2008.
Key Topics Covered:
Current Environment
- Sector Overview
- Sector Performance
- Leading Companies
- Mergers and Acquisitions Industry Profile
- Industry Size and Value
- Sector Development
- Sector Highlights Market Trends and Outlook
- Bancassurance Maintains its Strong Growth
- New Era of Microinsurance
- Economic Stability Spurs Insurance Businesses
- Development Boom Could Benefit Bond Insurers
- Market Outlook Country Profiles
- Argentina
- Brazil
- Chile
- Mexico
- Peru Currency Conversion Table
The Scope of this Report
Key References
Comparative Data
Reports Coverage
For more information visit
http://www.researchandmarkets.com/research/99a3b2/latin_america_insu
CONTACT: Laura Wood, Senior Manager, Research and Markets
Fax: +1 646 607 1907 (US)
Fax: +353 1 481 1716 (Rest of World)
e-mail: press@researchandmarkets.com
((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at
http://www.presswire.net on the world wide web. Inquiries to
info@m2.com)).
Copyright ? 2008 M2 Communications Ltd.
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