Lewes, DE -- (SBWIRE) -- 02/13/2014 -- 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.
The report provides in-depth industry analysis, information and insights into the insurance industry in Uruguay, including:
- The Uruguayan insurance industry’s growth prospects by insurance segments and categories
- The competitive landscape in the Uruguayan insurance industry
- The current trends and drivers of the Uruguayan insurance industry
- Challenges facing the Uruguayan insurance industry
- The regulatory framework of the Uruguayan insurance industry
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This report provides a comprehensive analysis of the insurance industry in Uruguay:
- 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.
Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast industry data related to the Uruguayan insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Uruguayan insurance industry.
- Assess the competitive dynamics in the Uruguayan insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
- Gain insights into key regulations governing the Uruguayan insurance industry and its impact on companies and the industry's future.
- 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
- 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)
Spanning over 372 pages, 317 tables and 306 figure, “The Insurance Industry in Uruguay, Key Trends and Opportunities to 2017” report covering the Bulgarian Insurance Industry Attractiveness, Life Insurance Outlook, Analysis by Distribution Channel, Regulatory Policies, Porter’s Five Forces Analysis – Bulgarian Life Insurance, Reinsurance Growth Dynamics and Challenges, Competitive Landscape and Strategic Insights, Business Environment and Country Risk, Appendix. The report covered 9 companies - Banco de Seguros del Estado, Uruguay RSA, Porto Seguro, Mapfre Uruguay SA, Metlife Seguros de Vida, Sancor Seguros Uruguay SA, AIG Uruguay, Compañia Cooperativa de Seguros Surco, HDI Seguros SA.
Find other reports on Uruguay Market at: http://www.marketresearchreports.com/countries/uruguay
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