The Insurance Industry in Paraguay, Key Trends and Opportunities to 2017


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120pages

Timetric

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Synopsis

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

The insurance industry in Paraguay is small when compared with other Latin American countries such as Brazil and Argentina. However, it is highly competitive and fragmented, with immense potential for growth. Despite being a small economy and registering negative growth in 2009 due to the global financial crisis, the Paraguayan economy posted strong growth of 20% in 2010. As the country’s economy is mainly dependent on the agriculture and commercial sectors, the country was able to weather the financial crisis and is projected to record double-digit growth over the forecast period.

Scope

This report provides a comprehensive analysis of the insurance industry in Paraguay:
  • It provides historical values for the Paraguayan 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 Paraguayan 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 Paraguay 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 Paraguayan insurance industry and each segment within it
  • Assess the competitive dynamics in the Paraguayan insurance industry
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Paraguayan insurance industry
  • Identify the growth opportunities and market dynamics within key segments
  • Gain insights into key regulations governing the Paraguayan insurance industry and its impact on companies and the industry's future
Key Highlights
  • The Paraguayan insurance industry is small, highly competitive and fragmented
  • Paraguay’s insurance industry is dominated by the non-life insurance segment
  • Increases in the number of motor vehicles and accidents in the country are guiding citizens towards motor insurance, and the government is also planning to introduce compulsory motor insurance for third-party liabilities, which is expected to drive the motor insurance category over the forecast period
  • Life insurance in Paraguay is dominated by the group life category
  • The growth in group life insurance can be attributed to increased employment in Paraguay
Table of Content

1 Executive Summary

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

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

4 Industry Segmentation
4.1 Life Insurance
4.1.1 Individual life insurance
4.1.2 Group life insurance
4.2 Non-Life Insurance
4.2.1 Property insurance
4.2.2 Motor insurance
4.2.3 Liability insurance
4.2.4 Marine, aviation and transit insurance
4.3 Personal Accident and Health Insurance
4.4 Reinsurance

5 Competitive Landscape
5.1 Overview
5.2 Leading Companies
5.2.1 Mapfre Paraguay Compañía de Seguros SA
5.2.2 La Consolidada SA de Seguros
5.2.3 Aseguradora del Este SA de Seguros y Reaseguros
5.2.4 Aseguradora Paraguaya SA
5.2.5 Rumbos SA de Seguros

6 Macroeconomic Indicators
6.1 GDP at Constant Prices (US$)
6.2 GDP Per Capita at Constant Prices (US$)
6.3 GDP at Current Prices (US$)
6.4 Arable Land
6.5 Exports as a Percentage of GDP
6.6 Number of Air Passengers
6.7 Healthcare Expenditure Per Capita
6.8 Total Population

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

Table 1: Insurance Industry Definitions
Table 2: Paraguayan Insurance – Overall Written Premium by Segment (PYG Billion), 2008–2012
Table 3: Paraguayan Insurance – Overall Written Premium by Segment (US$ Million), 2008–2012
Table 4: Paraguayan Insurance – Overall Written Premium by Segment (PYG Billion), 2012–2017
Table 5: Paraguayan Insurance – Overall Written Premium by Segment (US$ million), 2012–2017
Table 6: Paraguayan Insurance – Segmentation (Percentage Share), 2008–2017
Table 7: Paraguayan Life Insurance – Written Premium by Category (PYG Billion), 2008–2012
Table 8: Paraguayan Life Insurance – Written Premium by Category (US$ Million), 2008–2012
Table 9: Paraguayan Life Insurance – Written Premium by Category (PYG Billion), 2012–2017
Table 10: Paraguayan Life Insurance – Written Premium by Category (US$ Million), 2012–2017
Table 11: Paraguayan Life Insurance – Paid Claims (PYG Billion), 2008–2012
Table 12: Paraguayan Life Insurance – Paid Claims (PYG Billion), 2012–2017
Table 13: Paraguayan Life Insurance – Incurred Loss (PYG Billion), 2008–2012
Table 14: Paraguayan Life Insurance – Incurred Loss (PYG Billion), 2012–2017
Table 15: Paraguayan Life Insurance – Loss Ratio (%), 2008–2012
Table 16: Paraguayan Life Insurance – Loss Ratio (%), 2012–2017
Table 17: Paraguayan Life Insurance – Combined Ratio (%), 2008–2012
Table 18: Paraguayan Life Insurance – Combined Ratio (%), 2012–2017
Table 19: Paraguayan Life Insurance – Total Assets (PYG Billion), 2008–2012
Table 20: Paraguayan Life Insurance – Total Assets (PYG Billion), 2012–2017
Table 21: Paraguayan Life Insurance – Total Investment Income (PYG Billion), 2008–2012
Table 22: Paraguayan Life Insurance – Total Investment Income (PYG Billion), 2012–2017
Table 23: Paraguayan Life Insurance – Retentions (PYG Billion), 2008–2012
Table 24: Paraguayan Life Insurance – Retentions (PYG Billion), 2012–2017
Table 25: Paraguayan Individual Life Insurance – Written Premium (PYG Billion), 2008–2012
Table 26: Paraguayan Individual Life Insurance – Written Premium (PYG Billion), 2012–2017
Table 27: Paraguayan Group Life Insurance – Written Premium (PYG Billion), 2008–2012
Table 28: Paraguayan Group Life Insurance – Written Premium (PYG Billion), 2012–2017
Table 29: Paraguayan Non-Life Insurance – Written Premium by Category (PYG Billion), 2008–2012
Table 30: Paraguayan Non-Life Insurance – Written Premium by Category (US$ Million), 2008–2012
Table 31: Paraguayan Non-Life Insurance – Written Premium by Category (PYG Billion), 2012–2017
Table 32: Paraguayan Non-Life Insurance – Written Premium by Category (US$ Million), 2012–2017
Table 33: Paraguayan Non-Life Insurance – Paid Claims (PYG Billion), 2008–2012
Table 34: Paraguayan Non-Life Insurance – Paid Claims (PYG Billion), 2012–2017
Table 35: Paraguayan Non-Life Insurance – Incurred Loss (PYG Billion), 2008–2012
Table 36: Paraguayan Non-Life Insurance – Incurred Loss (PYG Billion), 2012–2017
Table 37: Paraguayan Non-Life Insurance – Loss Ratio (%), 2008–2012
Table 38: Paraguayan Non-Life Insurance – Loss Ratio (%), 2012–2017
Table 39: Paraguayan Non-Life Insurance – Combined Ratio (%), 2008–2012
Table 40: Paraguayan Non-Life Insurance – Combined Ratio (%), 2012–2017
Table 41: Paraguayan Non-Life Insurance – Total Assets (PYG Billion), 2008–2012
Table 42: Paraguayan Non-Life Insurance – Total Assets (PYG Billion), 2012–2017
Table 43: Paraguayan Non-Life Insurance – Total Investment Income (PYG Billion), 2008–2012
Table 44: Paraguayan Non-Life Insurance – Total Investment Income (PYG Billion), 2012–2017
Table 45: Paraguayan Non-Life Insurance – Retentions (PYG Billion), 2008–2012
Table 46: Paraguayan Non-Life Insurance – Retentions (PYG Billion), 2012–2017
Table 47: Paraguayan Property Insurance – Written Premium (PYG Billion), 2008–2012
Table 48: Paraguayan Property Insurance – Written Premium (PYG Billion), 2012–2017
Table 49: Paraguayan Motor Insurance – Written Premium (PYG Billion), 2008–2012
Table 50: Paraguayan Motor Insurance – Written Premium (PYG Billion), 2012–2017
Table 51: Paraguayan Liability Insurance – Written Premium (PYG Billion), 2008–2012
Table 52: Paraguayan Liability Insurance – Written Premium (PYG Billion), 2012–2017
Table 53: Paraguayan Marine, Aviation and Transit Insurance – Written Premium (PYG Billion), 2008–2012
Table 54: Paraguayan Marine, Aviation and Transit Insurance – Written Premium (PYG Billion), 2012–2017
Table 55: Paraguayan Personal Accident and Health Insurance – Written Premium (PYG Billion), 2012–2017
Table 56: Paraguayan Personal Accident and Health Insurance – Written Premium (PYG Billion), 2012–2017
Table 57: Paraguayan Personal Accident and Health Insurance – Paid Claims (PYG Billion), 2008–2012
Table 58: Paraguayan Personal Accident and Health Insurance – Paid Claims (PYG Billion), 2012–2017
Table 59: Paraguayan Personal Accident and Health Insurance – Incurred Loss (PYG Billion), 2008–2012
Table 60: Paraguayan Personal Accident and Health Insurance – Incurred Loss (PYG Billion), 2012–2017
Table 61: Paraguayan Personal Accident and Health Insurance – Loss Ratio (%), 2008–2012
Table 62: Paraguayan Personal Accident and Health Insurance – Loss Ratio (%), 2012–2017
Table 63: Paraguayan Personal Accident and Health Insurance – Combined Ratio (%), 2008–2012
Table 64: Paraguayan Personal Accident and Health Insurance – Combined Ratio (%), 2012–2017
Table 65: Paraguayan Personal Accident and Health Insurance – Total Assets (PYG Billion), 2008–2012
Table 66: Paraguayan Personal Accident and Health Insurance – Total Assets (PYG Billion), 2012–2017
Table 67: Paraguayan Personal Accident and Health Insurance – Total Investment Income (PYG Billion), 2008–2012
Table 68: Paraguayan Personal Accident and Health Insurance – Total Investment Income (PYG Billion), 2012–2017
Table 69: Paraguayan Personal Accident and Health Insurance – Retentions (PYG Billion), 2008–2012
Table 70: Paraguayan Personal Accident and Health Insurance – Retentions (PYG Billion), 2012–2017
Table 71: Paraguayan Reinsurance Ceded by Insurance Segment (PYG Billion), 2008–2012
Table 72: Paraguayan Reinsurance Ceded by Insurance Segment (US$ Million), 2008–2012
Table 73: Paraguayan Reinsurance Ceded by Insurance Segment (PYG Billion), 2012–2017
Table 74: Paraguayan Reinsurance Ceded by Insurance Segment (US$ Million), 2012–2017
Table 75: Paraguayan Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Table 76: Paraguayan Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Table 77: Paraguayan Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Table 78: Paraguayan Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Table 79: Paraguayan Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Table 80: Paraguayan Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Table 81: Paraguayan Insurance Industry Share, 2011
Table 82: Mapfre Paraguay Compañía de Seguros SA, Main Products
Table 83: Mapfre Paraguay Compañía de Seguros SA, Key Employees
Table 84: La Consolidada SA de Seguros, Main Products
Table 85: La Consolidada SA de Seguros, Key Employees
Table 86: Aseguradora del Este SA de Seguros y Reaseguros, Main Products
Table 87: Aseguradora del Este SA de Seguros y Reaseguros, Key Employees
Table 88: Aseguradora Paraguaya SA, Main Products
Table 89: Aseguradora Paraguaya SA, Key Employees
Table 90: Rumbos SA de Seguros , Main Products
Table 91: Rumbos SA de Seguros, Key Employees

Figure 1: Paraguayan Insurance – Overall Written Premium by Segment (PYG Billion), 2008–2017
Figure 2: Paraguayan Insurance – Industry Dynamics by Segment, 2008–2017
Figure 3: Paraguayan Life Insurance – Written Premium by Category (PYG Billion), 2008–2017
Figure 4: Paraguayan Life Insurance – Written Premium by Category (Percentage Share), 2012 and 2017
Figure 5: Paraguayan Life Insurance – Dynamics by Category, 2008–2017
Figure 6: Paraguayan Life Insurance – Paid Claims (PYG Billion), 2008–2012
Figure 7: Paraguayan Life Insurance – Paid Claims (PYG Billion), 2012–2017
Figure 8: Paraguayan Life Insurance – Incurred Loss (PYG Billion), 2008–2012
Figure 9: Paraguayan Life Insurance – Incurred Loss (PYG Billion), 2012–2017
Figure 10: Paraguayan Life Insurance – Loss Ratio (%), 2008–2012
Figure 11: Paraguayan Life Insurance – Loss Ratio (%), 2012–2017
Figure 12: Paraguayan Life Insurance – Combined Ratio (%), 2008–2012
Figure 13: Paraguayan Life Insurance – Combined Ratio (%), 2012–2017
Figure 14: Paraguayan Life Insurance – Total Assets (PYG Billion), 2008–2012
Figure 15: Paraguayan Life Insurance – Total Assets (PYG Billion), 2012–2017
Figure 16: Paraguayan Life Insurance – Total Investment Income (PYG Billion), 2008–2012
Figure 17: Paraguayan Life Insurance – Total Investment Income (PYG Billion), 2012–2017
Figure 18: Paraguayan Life Insurance – Retentions (PYG Billion), 2008–2012
Figure 19: Paraguayan Life Insurance – Retentions (PYG Billion), 2012–2017
Figure 20: Paraguayan Life Insurance – Investment (PYG Billion), 2008–2012
Figure 21: Paraguayan Life Insurance – Penetration (Percentage of GDP), 2008–2012
Figure 22: Paraguayan Life Insurance – Premium Per Capita (PYG), 2008–2012
Figure 23: Paraguayan Individual Life Insurance – Written Premium (PYG Billion), 2008–2012
Figure 24: Paraguayan Individual Life Insurance – Written Premium (PYG Billion), 2012–2017
Figure 25: Paraguayan Group Life Insurance – Written Premium (PYG Billion), 2008–2012
Figure 26: Paraguayan Group Life Insurance – Written Premium (PYG Billion), 2012–2017
Figure 27: Paraguayan Non-Life Insurance – Written Premium by Category (PYG Billion), 2008–2017
Figure 28: Paraguayan Non-Life Insurance – Written Premium by Category (Percentage Share), 2012 and  2017
Figure 29: Paraguayan Non-Life Insurance – Dynamics by Category, 2008–2017
Figure 30: Paraguayan Non-Life Insurance – Paid Claims by Category (PYG Billion), 2008–2012
Figure 31: Paraguayan Non-Life Insurance – Paid Claims (PYG Billion), 2012–2017
Figure 32: Paraguayan Non-Life Insurance – Incurred Loss (PYG Billion), 2008–2012
Figure 33: Paraguayan Non-Life Insurance – Incurred Loss by Category (PYG Billion), 2012–2017
Figure 34: Paraguayan Non-Life Insurance – Loss Ratio (%), 2008–2012
Figure 35: Paraguayan Non-Life Insurance – Loss Ratio (%), 2012–2017
Figure 36: Paraguayan Non-Life Insurance – Combined Ratio (%), 2008–2012
Figure 37: Paraguayan Non-Life Insurance – Combined Ratio (%), 2012–2017
Figure 38: Paraguayan Non-Life Insurance – Total Assets (PYG Billion), 2008–2012
Figure 39: Paraguayan Non-Life Insurance – Total Assets (PYG Billion), 2012–2017
Figure 40: Paraguayan Non-Life Insurance – Total Investment Income (PYG Billion), 2008–2012
Figure 41: Paraguayan Non-Life Insurance – Total Investment Income (PYG Billion), 2012–2017
Figure 42: Paraguayan Non-Life Insurance – Retentions (PYG Billion), 2008–2012
Figure 43: Paraguayan Non-Life Insurance – Retentions (US$ Million), 2012–2017
Figure 44: Paraguayan Non-Life Insurance – Investment (PYG Billion), 2008–2012
Figure 45: Paraguayan Non-Life Insurance – Penetration (Percentage of GDP), 2008–2012
Figure 46: Paraguayan Non-Life Insurance – Premium Per Capita (PYG), 2008–2012
Figure 47: Paraguayan Property Insurance – Written Premium (PYG Billion), 2008–2012
Figure 48: Paraguayan Property Insurance – Written Premium (PYG Billion), 2012–2017
Figure 49: Paraguayan Motor Insurance – Written Premium (PYG Billion), 2008–2012
Figure 50: Paraguayan Motor Insurance – Written Premium (PYG Billion), 2012–2017
Figure 51: Paraguayan Liability Insurance – Written Premium (PYG Billion), 2008–2012
Figure 52: Paraguayan Liability Insurance – Written Premium (PYG Billion), 2012–2017
Figure 53: Paraguayan Marine, Aviation and Transit Insurance – Written Premium (PYG Billion), 2008–2012
Figure 54: Paraguayan Marine, Aviation and Transit Insurance – Written Premium (PYG Billion), 2012–2017
Figure 55: Paraguayan Personal Accident and Health Insurance – Written Premium (PYG Billion), 2012–2017
Figure 56: Paraguayan Personal Accident and Health Insurance – Written Premium (PYG Billion), 2012–2017
Figure 57: Paraguayan Personal Accident and Health Insurance – Paid Claims by Category (PYG Billion), 2008–2012
Figure 58: Paraguayan Personal Accident and Health Insurance – Paid Claims (PYG Billion), 2012–2017
Figure 59: Paraguayan Personal Accident and Health Insurance – Incurred Loss (PYG Billion), 2008–2012
Figure 60: Paraguayan Personal Accident and Health Insurance – Incurred Loss by Category (PYG Billion), 2012–2017
Figure 61: Paraguayan Personal Accident and Health Insurance – Loss Ratio (%), 2008–2012
Figure 62: Paraguayan Personal Accident and Health Insurance – Loss Ratio (%), 2012–2017
Figure 63: Paraguayan Personal Accident and Health Insurance – Combined Ratio (%), 2008–2012
Figure 64: Paraguayan Personal Accident and Health Insurance – Combined Ratio (%), 2012–2017
Figure 65: Paraguayan Personal Accident and Health Insurance – Total Assets (PYG Billion), 2008–2012
Figure 66: Paraguayan Personal Accident and Health Insurance – Total Assets (PYG Billion), 2012–2017
Figure 67: Paraguayan Personal Accident and Health Insurance – Total Investment Income (PYG Billion), 2008–2012
Figure 68: Paraguayan Personal Accident and Health Insurance – Total Investment Income (PYG Billion), 2012–2017
Figure 69: Paraguayan Personal Accident and Health Insurance – Retentions (PYG Billion), 2008–2012
Figure 70: Paraguayan Personal Accident and Health Insurance – Retentions (PYG Billion), 2012–2017
Figure 71: Paraguayan Personal Accident and Health Insurance – Investment (PYG Billion), 2008–2012
Figure 72: Paraguayan Personal Accident and Health Insurance – Penetration (Percentage of GDP), 2008–2012
Figure 73: Paraguayan Personal Accident and Health Insurance – Premium Per Capita (PYG), 2008–2012
Figure 74: Paraguayan Reinsurance Ceded by Insurance Segment (PYG Billion), 2008–2017
Figure 75: Paraguayan Reinsurance Segment Dynamics by Insurance Industry, 2008–2017
Figure 76: Paraguayan Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Figure 77: Paraguayan Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Figure 78: Paraguayan Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Figure 79: Paraguayan Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Figure 80: Paraguayan Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Figure 81: Paraguayan Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Figure 82: Paraguayan Insurance Industry – Market Shares, 2010
Figure 83: Paraguayan GDP at Constant Prices (US$ Billion), 2007–2011
Figure 84: Paraguayan GDP Per Capita at Constant Prices (US$), 2007–2011
Figure 85: Paraguayan GDP at Current Prices (US$ Billion), 2007–2011
Figure 86: Paraguayan Arable Land (Thousand Hectares), 2007–2011
Figure 87: Paraguayan Exports as Percentage of GDP (%), 2007–2011
Figure 88: Paraguayan Number of Air Passengers (Million), 2007–2011
Figure 89: Paraguayan Healthcare Expenditure Per Capita (US$), 2007–2011
Figure 90: Paraguayan Total Population (Million), 2007–2011