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The Insurance Industry in El Salvador, Key Trends and Opportunities to 2017

Timetric
Published Date » 2013-03-22
No. Of Pages » 92
Synopsis

The report provides in depth market analysis, information and insights into the insurance industry in El Salvador, including:
  • The Salvadoran insurance industrys growth prospects by insurance segments and categories 
  • The competitive landscape in the Salvadoran insurance industry
  • The current trends and drivers of the El Salvador insurance industry
  • The challenges facing the El Salvador insurance industry
  • The regulatory framework of the El Salvador insurance industry
Summary

The Salvadoran insurance industry is the fourth-largest in Central America after Panama, Costa Rica and Guatemala. Led by economic recovery, the countrys insurance industrys 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.

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 reports 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 Buy

  • 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
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 countrys 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
Table of Content

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 The Salvadoran Insurance Industry Overview
3.1 The Salvadoran Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
3.4 Regulation

4 Industry Segmentation
4.1 Life Insurance
4.2 Non-Life Insurance
4.2.1 Property insurance
4.2.2 Motor insurance
4.2.3 Marine, aviation and transit insurance
4.3 Personal Accident and Health Insurance

5 Competitive Landscape
5.1 Overview
5.2 Leading Companies
5.2.1 Aseguradora Agrcola Comercial, SA - Company overview
5.2.2 Sisa Vida SA - Company overview
5.2.3 La Centro Americana, SA - Company overview
5.2.4 Asesuisa Vida, SA Seguros de Personas - Company overview
5.2.5 Scotia Seguros, SA - Company overview

6 Macroeconomic Indicators
6.1 GDP at Constant Prices (US Dollars)
6.2 GDP per Capita at Constant Prices (US Dollars)
6.3 GDP at Current Prices (US Dollars)
6.4 Inflation
6.5 Exports as a Percentage of GDP
6.6 Construction Output (US Dollar)
6.7 Unemployment as percentage of total labor force
6.8 Life expectancy
6.9 Healthcare Expenditure per Capita
6.1 Healthcare Expenditure percentage of GDP
6.11 Annual Household Consumption Expenditure
6.12 Total Population

7 Appendix
7.1 Methodology
7.2 Contact Us
7.3 About Timetric
7.4 Disclaimer

List of Tables


Table 1: Insurance Industry Definitions
Table 2: Salvadoran Insurance Industry - Overall Written Premium by Segment (US$ Million), 2008-2012
Table 3: Salvadoran Insurance Industry - Overall Written Premium by Segment (US$ Million), 2012-2017
Table 4: Salvadoran Insurance Industry - Segmentation (% Share), 2008-2017
Table 5: Salvadoran Life Insurance - Written Premium (US$ Million), 2008-2012
Table 6: Salvadoran Life Insurance - Written Premium (US$ Million), 2012-2017
Table 7: Salvadoran Life Insurance - Paid Claims (US$ Million), 2008-2012
Table 8: Salvadoran Life Insurance - Paid Claims (US$ Million), 2012-2017
Table 9: Salvadoran Life Insurance - Incurred Loss (US$ Million), 2008-2012
Table 10: Salvadoran Life Insurance - Incurred Loss (US$ Million), 2012-2017
Table 11: Salvadoran Life Insurance - Loss Ratio (%), 2008-2012
Table 12: Salvadoran Life Insurance - Loss Ratio (%), 2012-2017
Table 13: Salvadoran Life Insurance - Combined Ratio (%), 2008-2012
Table 14: Salvadoran Life Insurance - Combined Ratio (%), 2012-2017
Table 15: Salvadoran Life Insurance - Retentions (US$ Million), 2008-2012
Table 16: Salvadoran Life Insurance - Retentions (US$ Million), 2012-2017
Table 17: Salvadoran Non-Life Insurance - Written Premium by Category (US$ Million),
Table 18: Salvadoran Non-Life Insurance - Written Premium by Category (US$ Million),
Table 19: Salvadoran Non-Life Insurance - Paid Claims (US$ Million), 2008-2012
Table 20: Salvadoran Non-Life Insurance - Paid Claims (US$ Million), 2012-2017
Table 21: Salvadoran Non-Life Insurance - Incurred Loss (US$ Million), 2008-2012
Table 22: Salvadoran Non-Life Insurance - Incurred Loss (US$ Million), 2012-2017
Table 23: Salvadoran Non-Life Insurance - Loss Ratio (%), 2008-2012
Table 24: Salvadoran Non-Life Insurance - Loss Ratio (%), 2012-2017
Table 25: Salvadoran Non-Life Insurance - Combined Ratio (%), 2008-2012
Table 26: Salvadoran Non-Life Insurance - Combined Ratio (%), 2012-2017
Table 27: Salvadoran Non-Life Insurance - Retentions (US$ Million), 2008-2012
Table 28: Salvadoran Non-Life Insurance - Retentions (US$ Million), 2012-2017
Table 29: Salvadoran Property Insurance- Written Premium (US$ Million),
Table 30: Salvadoran Property Insurance - Written Premium (US$ Million),
Table 31: Salvadoran Motor Insurance - Written Premium (US$ Million), 2008-2012
Table 32: Salvadoran Motor Insurance - Written Premium (US$ Million), 2012-2017
Table 33: Salvadoran Marine, Aviation and Transit Insurance - Written Premium
Table 34: Salvadoran Marine, Aviation and Transit Insurance - Written Premium
Table 35: Salvadoran Personal Accident and Health Insurance - Written Premium
Table 36: Salvadoran Personal Accident and Health Insurance - Written Premium (US$ Million), 2012-2017
Table 37: Salvadoran Personal Accident and Health Insurance - Paid Claims
Table 38: Salvadoran Personal Accident and Health Insurance - Paid Claims (US$ Million), 2012-2017
Table 39: Salvadoran Personal Accident and Health Insurance - Incurred Loss (US$ Million), 2008-2012
Table 40: Salvadoran Personal Accident and Health Insurance - Incurred Loss (US$ Million), 2012-2017
Table 41: Salvadoran Personal Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 42: Salvadoran Personal Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 43: Salvadoran Personal Accident and Health Insurance - Combined Ratio (%),
Table 44: Salvadoran Personal Accident and Health Insurance - Combined Ratio (%),
Table 45: Salvadoran Personal Accident and Health Insurance - Retentions (US$ Million), 2008-2012
Table 46: Salvadoran Personal Accident and Health Insurance - Retentions (US$ Million), 2012-2017
Table 47: Salvadoran Insurance Industry - Market Shares by Company, 2011 and 2012
Table 48: Aseguradora Agrcola Comercial, SA, Main Products
Table 49: Aseguradora Agrcola Comercial, SA, Key Employees
Table 50: Sisa Vida SA, Main Products
Table 51: Sisa Vida SA, Key Employees
Table 52: La Centro Americana SA, Main Products
Table 53: La Centro Americana SA, Key Employees
Table 54: Asesuisa Vida, SA Seguros de Personas, Main Products
Table 55: Asesuisa Vida, SA Seguros de Personas, Key Employees
Table 56: Scotia Seguros, SA, Main Products
Table 57: Scotia Seguros, SA, Key Employees

List of Figures


Figure 1: Salvadoran Insurance Industry - Overall Written Premium by Segment (US$ Million), 2008-2017
Figure 2: Salvadoran Insurance Industry - Dynamics by Segment, 2008-2017
Figure 3: Salvadoran Life Insurance - Written Premium (US$ Million), 2008-2012
Figure 4: Salvadoran Life Insurance - Written Premium (US$ Million), 2012-2017
Figure 5: Salvadoran Life Insurance - Paid Claims (US$ Million), 2008-2012
Figure 6: Salvadoran Life Insurance - Paid Claims (US$ Million), 2012-2017
Figure 7: Salvadoran Life Insurance - Incurred Loss (US$ Million), 2008-2012
Figure 8: Salvadoran Life Insurance - Incurred Loss (US$ Million), 2012-2017
Figure 9: Salvadoran Life Insurance - Loss Ratio (%), 2008-2012
Figure 10: Salvadoran Life Insurance - Loss Ratio (%), 2012-2017
Figure 11: Salvadoran Life Insurance - Combined Ratio (%), 2008-2012
Figure 12: Salvadoran Life Insurance - Combined Ratio (%), 2012-2017
Figure 13: Salvadoran Life Insurance - Retentions (US$ Million), 2008-2012
Figure 14: Salvadoran Life Insurance - Retentions (US$ Million), 2012-2017
Figure 15: Salvadoran Life Insurance - Penetration (% of GDP), 2008-2012
Figure 16: Salvadoran Life Insurance - Premium Per Capita (US$), 2008-2012
Figure 17: Salvadoran Non-Life Insurance - Written Premium by Category (US$ Million),
Figure 18: Salvadoran Non-Life Insurance - Written Premium by Category (% Share),
Figure 19: Salvadoran Non-Life Insurance - Dynamics by Category, 2008-2017
Figure 20: Salvadoran Non-Life Insurance - Paid Claims by Category (US$ Million), 2008-2012
Figure 21: Salvadoran Non-Life Insurance - Paid Claims (US$ Million), 2012-2017
Figure 22: Salvadoran Non-Life Insurance - Incurred Loss (US$ Million), 2008-2012
Figure 23: Salvadoran Non-Life Insurance - Incurred Loss (US$ Million), 2012-2017
Figure 24: Salvadoran Non-Life Insurance - Loss Ratio (%), 2008-2012
Figure 25: Salvadoran Non-Life Insurance - Loss Ratio (%), 2012-2017
Figure 26: Salvadoran Non-Life Insurance - Combined Ratio (%), 2008-2012
Figure 27: Salvadoran Non-Life Insurance - Combined Ratio (%), 2012-2017
Figure 28: Salvadoran Non-Life Insurance - Retentions (US$ Million), 2008-2012
Figure 29: Salvadoran Non-Life Insurance - Retentions (US$ Million), 2012-2017
Figure 30: Salvadoran Non-Life Insurance - Penetration (% of GDP), 2008-2012
Figure 31: Salvadoran Non-Life Insurance - Premium Per Capita (US$), 2008-2012
Figure 32: Salvadoran Property Insurance - Written Premium (US$ Million),
Figure 33: Salvadoran Property Insurance - Written Premium (US$ Million),
Figure 34: Salvadoran Motor Insurance - Written Premium (US$ Million), 2008-2012
Figure 35: Salvadoran Motor Insurance - Written Premium (US$ Million), 2012-2017
Figure 36: Salvadoran Marine, Aviation and Transit Insurance - Written Premium
Figure 37: Salvadoran Marine, Aviation and Transit Insurance - Written Premium
Figure 38: Salvadoran Personal Accident and Health Insurance - Written Premium (US$ Million), 2008-2012
Figure 39: Salvadoran Personal Accident and Health Insurance - Written Premium (US$ Million), 2012-2017
Figure 40: Salvadoran Personal Accident and Health Insurance - Paid Claims (US$ Million), 2008-2012
Figure 41: Salvadoran Personal Accident and Health Insurance - Paid Claims (US$ Million), 2012-2017
Figure 42: Salvadoran Personal Accident and Health Insurance - Incurred Loss (US$ Million), 2008-2012
Figure 43: Salvadoran Personal Accident and Health Insurance - Incurred Loss (US$ Million), 2012-2017
Figure 44: Salvadoran Personal Accident and Health Insurance - Loss Ratio (%), 2008-2012
Figure 45: Salvadoran Personal Accident and Health Insurance - Loss Ratio (%), 2012-2017
Figure 46: Salvadoran Personal Accident and Health Insurance - Combined Ratio (%),
Figure 47: Salvadoran Personal Accident and Health Insurance - Combined Ratio (%),
Figure 48: Salvadoran Personal Accident and Health Insurance - Retentions (US$ Million), 2008-2012
Figure 49: Salvadoran Personal Accident and Health Insurance - Retentions (US$ Million), 2012-2017
Figure 50: Salvadoran Personal Accident and Health Insurance - Penetration (% of GDP), 2008-2012
Figure 51: Salvadoran Personal Accident and Health Insurance - Premium Per Capita (US$), 2008-2012
Figure 52: Salvadoran Insurance Industry Shares, 2011 and 2012
Figure 53: Salvadoran GDP at Constant Prices (US$ Billion), 2007-2011
Figure 54: Salvadoran GDP Per Capita at Constant Prices (US$), 2007-2011
Figure 55: Salvadoran GDP at Current Prices (US$ Billion), 2007-2011
Figure 56: Salvadoran Inflation Rate (%), 2007-2011
Figure 57: Salvadoran Exports as a Percentage of GDP (%), 2007-2011
Figure 58: Salvadoran Construction Output (US$ Billion), 2007-2011
Figure 59: Salvadoran Unemployment Rate as a Percentage of the Total Labor Force, 2007-2011
Figure 60: Salvadoran Life Expectancy (Years), 2007-2011
Figure 61: Salvadoran Healthcare Expenditure Per Capita (US$), 2007-2011
Figure 62: Salvadoran Healthcare as a Percentage of GDP, 2007-2011
Figure 63: Salvadoran Annual Household Consumption Expenditure (US$ Billion), 2007-2011
Figure 64: Salvadoran Total Population (Million), 2007-2011

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