Latin America Insurance Market Outlook to 2030 - Promising Region Backed by the Emerging Brazil
Region:Central and South America
Product Code:AM43
February 2011
63
About the Report
The Report titled "Latin America Insurance Market Outlook to 2015 - Promising Region Backed by the Emerging Brazil" provides an in-depth analysis of the Latin American insurance industry. The report covers specific insights on the market size, insurance density, insurance penetration and segmentation, drivers and restraints, recent trends and developments and future outlook of the insurance industry in the Latin America and in the three major countries including the Brazil, Mexico and Venezuela. The report also entails the market size on the basis of gross insurance premium written in case of life and non-life insurance and market share of various companies at the country level. Overall, the report offers a comprehensive analysis of the entire Latin American insurance industry.
Insurance Industry in Latin America
Latin America is an emerging market where insurance industry has tremendous growth potential. Led by the six main national markets of Brazil, Mexico, Venezuela, Argentina, Chile and Colombia, the Latin American insurance premium volume has reached USD ~ million in 2009. It is expected that insurance industry in the region will continue to show the sustained, if not restrained due to catastrophe losses and recession, and will reach USD ~ million in 2010. Latin America insurance market accounted for ~% of the global market share in 2009. The market is not only growing in terms of competition but also in terms of the distribution channels. In such a situation, the insurer who can adapt to a successful sales approach will lead the market.
Latin America insurance market is led by Brazil with the market share of ~% and size of USD ~ million in 2009. It is followed by Mexico with ~% market share and gross Insurance premium of USD ~ million. Venezuela is giving Mexico a tough competition with ~% market share and gross insurance premium of USD ~ million. Other countries include Argentina, Chile, Columbia, Peru, Trinidad and Tobago, Ecuador, Panama and other which contributed the rest of the market share of ~% with gross insurance premium of USD ~ million in 2009.
Brazil
Brazil life insurance market is moderately competitive market with top 10 players accounting for ~% market share in 2009. The life insurance market is dominated by Bradesco Vida E Previdencia S.A with the market share of ~% and gross insurance premium written of USD ~ million in 2009. The second largest life insurer i.e. Itau Vida E Previdencia accounted for the just more than half of the market share (~) of that of Bradesco and gross insurance premium of USD ~ million. There is stiff competition between the third and fourth largest life insurer i.e. Brasilprev Seguros E Previdencia and Santander Seguros respectively with the market share of ~% and ~% respectively. The gross insurance premium of Brasilprev Seguros E Previdencia was valued at USD ~ million in 2009 while the gross insurance premium of Santander Seguros was USD ~ million. It is followed by Caixa Vida E Previdencia at the fifth position with market share of ~% and gross insurance premium of USD ~ million in 2015.
Mexico
Mexico life insurance market is extremely low penetrated with the penetration level of ~% in 2009. This indicates the gross life insurance premium of USD ~ million just contributed ~% to the GDP of USD ~ billion in 2009. It is expected that life insurance market will witness decrease in the penetration level to nearly ~% by 2015.
Venezuela
Venezuela life insurance market has evolved over time. From the market size of just USD ~ million in 2001, the gross life insurance premium written has increased to USD ~ million in 2009, registering 8 year CAGR of ~%. Even in the phase of downturn, life insurance market in Venezuela has remained strong and registered growth of ~% in 2009. It is expected the life insurance market will reach to USD ~ million in 2013 and USD ~ million in 2015, growing at an expected 6 year CAGR of ~%.
Scope of Research
The report entails thorough analysis, drivers, restraints and market opportunities for insurance industry in Latin America. The scope of the report includes:
The market size of life and non-life insurance industry in terms of gross insurance premium written for Latin America and 3 countries (Brazil, Mexico and Venezuela) 2001 to 2015
Life and Non-life insurance density in USD for Latin America and for all 3 countries, 2001 to 2015
Life and Non-life insurance penetration, premium as a percentage of GDP for Latin America and for all 3 countries, 2001 to 2015
Market segmentation on the basis of Geography and on the basis of Product for Latin America and major 3 countries, 2009 and 2015
Competitive Landscape of the major life and non-life insurers (Caracas de Liberty Mutual, Mercantil Seguro, MetLife Mexico, BBVA Bancomer, Bradesco Life & Pensions, Itau Life & Pensions) in various countries on the basis of gross premium written
In-depth analysis of trends and developments, drivers, restraints and future outlook of the insurance industry in Latin America and the major 3 countries
Market opportunities and Future Outlook of the insurance industry in Latin America and major 3 countries.
Scope of the Report
Products
Companies
Table of Contents
Research Methodology
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