El Salvador Insurance Report - Business Monitor International - Industry Reports

El Salvador Insurance Report

El Salvador Insurance Report - Business Monitor International - Industry Reports
El Salvador Insurance Report
Published Oct 15, 2016
46 pages — Published Oct 15, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

Life insurance business in El Salvador is small, with gross premiums in ---- estimated to have reached around USD---mn, USD-mn higher than the level we estimated in the previous quarter. The economic situation means that growth in premiums will be just -.- in ----, a significant downgrade from the -.- forecast in the previous quarter. ...Life insurance business in El Salvador is small, with gross premiums in ---- estimated to have reached around USD---mn, USD-mn higher than the level we estimated in the previous quarter. The economic situation means that growth in premiums will be just -.- in ----, a significant downgrade from the -.- forecast in the previous quarter. Growth will rebound to the --- range in following years, taking premiums to USD---mn. ...Per capita gross life premiums are forecast to reach USD--.- in ---- and USD--.- in ----. As such, growth prospects are quite restrained across the sector, with a high level of competition limiting pricing power, and the preference for group policies over individual ones limiting scope for volume expansion.

...Despite a sluggish growth outlook for the El Salvador economy, over the rest of the decade to ----, we anticipate a modest increase in the middle classes, which will help to drive demand for life insurance. However, this growth will likely come through group products purchased through employers rather than premium individual life cover. ...Despite a sluggish growth outlook for the El Salvador economy, over the rest of the decade to ----, we anticipate a modest increase in the middle classes, which will help to drive demand for life insurance. However, this growth will likely come through group products purchased through employers rather than premium individual life cover. With anticipated growth set to remain around --- over the next five years, gross life premiums will reach USD---mn by ----. This will translate to life insurance density of a little over USD-- per capita, a steady increase from current levels. In this time, we expect the market-leading trio of Sisa, Asesuisa and AIG, recently acquired by Panamanian insurer ASSA, to remain to the fore, with the acquisition of smaller players a distinct possibility along the way.

...< ALACRA META ABSTRACT>BMI View: El Salvador s insurance market is small with a low level of penetration and density that is unlikely to change significantly over the next five years, even though it is set for solid expansion. The non- life segment will become increasingly dominant as its growth will pass the life segment, helped by strong growth in health premium. ...

  
Source:
Document ID
2397-4249
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Cite this Report

  
MLA:
Business Monitor International - Industry Reports. "El Salvador Insurance Report" Oct 15, 2016. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/El-Salvador-Insurance-Report-2026-1875>
  
APA:
Business Monitor International - Industry Reports. (2016). El Salvador Insurance Report Oct 15, 2016. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/El-Salvador-Insurance-Report-2026-1875>
  
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