2013-12-24 22:15:34 - Fast Market Research recommends "Non-Life Insurance in Venezuela, Key Trends and Opportunities to 2017" from Timetric, now available
Non-life insurance is one of the most highly regulated and concentrated segments in the Venezuelan insurance industry. It was the largest segment, accounting for 48.6% of the industry's total gross written premium in 2012. The segment was led by the motor insurance category in 2012 with a 66.9% share of the gross written premium, followed by property insurance with 26.3%. A growth in automobile sales, the rising property market and high inflation supported the segment's growth during the review period (2008-2012), and are expected to continue to do so over the forecast period (2012-2017). Compulsory third-party motor liability insurance also supported the growth of non-life insurance during the review period, and both motor and property insurance are expected to retain
their segment-leading positions over the forecast period.
* The Venezuelan non-life insurance segment grew from VEF11.7 billion (US$5.4 billion) in 2008 to VEF28.9 billion (US$6.7 billion) in 2012, at a review-period compound annual growth rate (CAGR) of 25.4%, supported by motor insurance, rising automobile sales and inflation
* Motor insurance dominated the segment with a share of 66.9% in 2012, followed by property insurance with 26.3%, marine, aviation and transit with 3.9%, and general liability with 2.8%
* With anticipated growth in the Venezuelan construction industry, the property insurance category is expected to increase at a forecast-period CAGR of 26.8% to reach VEF24.9 billion (US$1.9 billion) in 2017
* Brokers formed the largest non-life insurance distribution channel in Venezuela, accounting for 69.0% of the segment in terms of new business written premium in 2012
* The non-life insurance segment is concentrated with the 10-leading insurers accounting for 71.8% of the total non-life segment in terms in terms of written premiums in 2012
Full Report Details at
- www.fastmr.com/prod/757073_nonlife_insurance_in_venezuela_key_tr ..
This report provides a comprehensive analysis of the non-life insurance segment in Venezuela:
* It provides historical values for Venezuela's non-life insurance segment 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 categories in Venezuela's non-life insurance segment, along with market forecasts until 2017
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
* It analyses the various distribution channels for non-life insurance products in Venezuela
* Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Venezuela for the non-life insurance segment
* It provides a detailed analysis of the reinsurance segment in Venezuela and its growth prospects
* It profiles the top non-life insurance companies in Venezuela and outlines the key regulations affecting them
Reasons to Get this Report
* Make strategic business decisions using in depth historic and forecast market data related to the Venezuelan non-life insurance segment and each category within it
* Understand the demand-side dynamics, key market trends and growth opportunities within the Venezuelan non-life insurance segment
* Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment
* Identify the growth opportunities and market dynamics within key product categories
* Gain insights into key regulations governing the Venezuelan insurance industry and its impact on companies and the market's future
Companies Mentioned in this Report: Seguros Caracas de Liberty Mutual CA, Seguros Mercantil CA, CA de Seguros La Occidental, Mapfre la Seguridad CA de Seguros, Estar Seguros SA, Seguros Altamira CA, Banesco Seguros CA, Zurich Seguros SA, Multinacional de Seguros CA, CNA de Seguros La Previsora
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037
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