New Financial Services market report from Timetric: "The Insurance Industry in El Salvador, Key Trends and Opportunities to 2017"

Boston, MA -- (SBWire) -- 05/20/2013 --The Salvadoran insurance industry is the fourth-largest in Central America after Panama, Costa Rica and Guatemala. Led by economic recovery, the country's insurance industry's gross written premium registered a moderate CAGR of 3.2% during the review period. Over the forecast period, growing investment in infrastructure in collaboration with the US, an improving business environment, new product developments and rising healthcare expenditure will support the growth of the insurance industry.

Key Highlights

- Government-planned investment in infrastructure is considered key to restoring economic growth and creating job opportunities in El Salvador
- The penetration (measured by gross written premiums as a percentage of GDP) of the Salvadoran insurance industry is lower than other countries in Central America
- The Salvadoran insurance industry is highly competitive with 21 active insurance companies at the end of 2012
- The introduction of compulsory third-party motor insurance, which was originally scheduled to come into force on May 20, 2009, has been delayed
- The country's proximity to Latin America and the US enables Salvadoran insurers to underwrite policies directly from these areas
- The frequency of natural disasters is likely to further improve awareness of the need for insurance products in the coming years

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the insurance industry in El Salvador:

- It provides historical values for the Salvadoran insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key segments and categories in the Salvadoran insurance industry, along with industry 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 El Salvador and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast industry data related to the Salvadoran insurance industry and each segment within it
- Assess the competitive dynamics in the Salvadoran insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Salvadoran insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Salvadoran insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: Aseguradora Agricola Comercial, SA, Sisa Vida SA, La Centro Americana, SA, Asesuisa Vida, SA Seguros de Personas, Scotia Seguros, SA

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