The Insurance Industry in Guatemala, Key Trends and Opportunities to 2016 New Report


Naperville, IL -- (SBWIRE) -- 03/07/2013 -- The report provides in depth market analysis, information and insights into the insurance industry in Guatemala, including:
- The Guatemalan insurance industry’s growth prospects by insurance segments and categories
- The competitive landscape in the Guatemala insurance industry
- The current trends and drivers of the Guatemala insurance industry
- The challenges facing the Guatemala insurance industry
- The regulatory framework of the Guatemala insurance industry

This report provides a comprehensive analysis of the insurance industry in Guatemala
- It provides historic values for the Guatemalan insurance industry for the report’s 2007–2011 review period and forecast figures for the 2011–2016 forecast period
- It offers a detailed analysis of the key segments and categories in the Guatemalan insurance industry, along with industry forecasts until 2016
- 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 Guatemala 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 Guatemalan insurance industry and each segment within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Guatemalan insurance industry
- Assess the competitive dynamics in the Guatemalan insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Guatemalan insurance industry and its impact on companies and the industry's future

Key Highlights
- Guatemala has a small insurance industry with only 17 insurers operating in the industry in 2011.
- The global financial crisis affected the Guatemalan economy and thus had a direct effect on the Guatemalan insurance industry during the review period.
- Insurance penetration, as a percentage of gross domestic product (GDP) in Guatemala, stood at 1.24% in 2011, which is very low when compared to developed countries.
- The Guatemalan insurance industry is mainly comprised of domestic insurance companies but foreign insurance companies started to enter the industry after the changes in insurance law in 2011.
- Foreign insurance companies are allowed to operate in the country through branches.
- The Guatemalan insurance industry was led by the property, motor and health insurance categories.
- The high rate of road accidents supported the growth of motor insurance while a high risk of natural disasters supported the growth of property insurance.
- The inadequate public healthcare system increased the scope for private health insurance in Guatemala.

Companies Mentioned

Banco Agromercantil de Guatemala Chartis Seguros Guatemala Pan-American Life Insurance

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