The Insurance Industry in Paraguay, Key Trends and Opportunities to 2018

Published: Jul, 2014 | Pages: 154 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
The report provides in-depth industry analysis, information and insights of 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 Paraguayan insurance industry
Challenges facing the Paraguayan insurance industry
The detailed regulatory framework of the Paraguayan insurance industry

Summary
In terms of written premium value, the Paraguayan insurance industry grew at a review-period CAGR of 18.5% in 2013. The increase was on account of the strong performance of the life segment, which registered a review-period CAGR of 29.9%. The industry is projected to grow at a forecast-period CAGR of 12.6%, driven by a strengthening economy and rising beef exports. Paraguay is the world's eighth-largest exporter of beef, and is expected to be the fifth-largest exporter by 2018, creating demand for transit and marine insurance over the forecast period. The overall insurance industry is dominated by the non-life segment, which accounted for 85.1% of the industry's gross written premium in 2013.
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 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key segments and categories in the Paraguayan insurance industry, along with forecasts until 2018.
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.
Reason 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.
Understand the demand-side dynamics, key trends and growth opportunities within the Paraguayan insurance industry.
Assess the competitive dynamics in 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 both highly competitive and moderately consolidated, with the presence of 35 insurance companies as of 2013
The overall insurance industry is dominated by the non-life segment, which accounted for 85.1% of the industry's gross written premium in 2013
Motor insurance was the largest category in the segment, accounting for 55.7% of its total written premium in 2013
Paraguay is the eighth-largest exporter of beef in the world, and is expected to be the fifth-largest by 2018. It is also the fourth-largest exporter of soybeans.
The country's inflation rate was comparatively high in 2013 at 3.09%, up from 2.59% in 2009. This rate is expected to rise further to 4.09% by 2018
The Paraguayan government, in collaboration with the insurance regulatory body, has enacted several favorable legislations

 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
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 Persol Accident and Health Insurance
4.3.1 Persol accident insurance
4.3.2 Health insurance
4.4 Reinsurance
5 Governce, Risk and Compliance
5.1 Legislation Overview and Historical Evolution
5.2 Legislation and Market Practice by Type of Insurance
5.2.1 Life insurance
5.2.2 Property insurance
5.2.3 Motor insurance
5.2.4 Marine, aviation and transit insurance
5.2.5 Persol accident and health insurance
5.3 Compulsory Insurance
5.3.1 Insurance for passengers of public transport
5.3.2 Aviation third-party liability insurance
5.3.3 Traffic accident insurance
5.3.4 Social security scheme
5.4 Supervision and Control
5.4.1 Intertiol Association of Insurance Supervisors (IAIS)
5.4.2 Superintendent of Insurance
5.5 Non-Admitted Insurance Regulations
5.5.1 Overview
5.5.2 Intermediaries
5.5.3 Market practices
5.5.4 Fines and pelties
5.6 Company Registration and Operations
5.6.1 Types of insurance organization
5.6.2 Establishing a local company
5.6.3 Foreign ownership
5.6.4 Types of license
5.6.5 Capital requirements
5.6.6 Solvency margins
5.6.7 Reserve requirements
5.6.8 Investment regulations
5.6.9 Statutory return requirements
5.6.10 Fee structure
5.7 Taxation
5.7.1 Insurance premium or policy taxations
5.7.2 Withholding taxes on premium paid overseas
5.7.3 Corporate tax
5.7.4 VAT
5.7.5 Captives
5.8 Legal System
5.8.1 Introduction
5.8.2 Access to court
5.8.3 Altertive dispute resolution (ADR)
6 Competitive Landscape
6.1 Overview
6.2 Leading Companies
6.2.1 Mapfre Paraguay Compania de Seguros SA
6.2.2 Aseguradora del Este SA de Seguros y Reaseguros
6.2.3 La Consolidada SA de Seguros
6.2.4 Seguridad SA Compania de Seguros
6.2.5 Aseguradora Paraguaya SA
7 Economic Indicators
7.1 GDP at Constant Prices (US$)
7.2 GDP at Current Prices (US$)
7.3 GDP per Capita at Current Prices (US$)
7.4 Inflation (Percentage)
7.5 Life Expectancy
7.6 Unemployment Rate (Percentage)
7.7 Labor Force
7.8 Total Number of Households
7.9 Urban and Rural Population
7.1 Total Population
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions 
Table 2: Paraguayan Insurance Overall Written Premium by Segment (PYG Billion), 2009-2013 
Table 3: Paraguayan Insurance Overall Written Premium by Segment (US$ Million), 2009-2013 
Table 4: Paraguayan Insurance Overall Written Premium by Segment (PYG Billion), 2013-2018 
Table 5: Paraguayan Insurance Overall Written Premium by Segment (US$ Million), 2013-2018 
Table 6: Paraguayan Insurance Segmentation (% Share), 2009-2018 
Table 7: Paraguayan Life Insurance - Written Premium by Category (PYG Billion), 2009-2013 
Table 8: Paraguayan Life Insurance - Written Premium by Category (US$ Million), 2009-2013 
Table 9: Paraguayan Life Insurance - Written Premium by Category (PYG Billion), 2013-2018 
Table 10: Paraguayan Life Insurance - Written Premium by Category (US$ Million), 2013-2018 
Table 11: Paraguayan Life Insurance - Paid Claims (PYG Billion), 2009-2013 
Table 12: Paraguayan Life Insurance - Paid Claims (PYG Billion), 2013-2018 
Table 13: Paraguayan Life Insurance - Incurred Loss (PYG Billion), 2009-2013 
Table 14: Paraguayan Life Insurance - Incurred Loss (PYG Billion), 2013-2018 
Table 15: Paraguayan Life Insurance - Loss Ratio (%), 2009-2013 
Table 16: Paraguayan Life Insurance - Loss Ratio (%), 2013-2018 
Table 17: Paraguayan Life Insurance - Combined Ratio (%), 2009-2013 
Table 18: Paraguayan Life Insurance - Combined Ratio (%), 2013-2018 
Table 19: Paraguayan Life Insurance - Total Assets (PYG Billion), 2009-2013 
Table 20: Paraguayan Life Insurance - Total Assets (PYG Billion), 2013-2018 
Table 21: Paraguayan Life Insurance - Total Investment Income (PYG Billion), 2009-2013 
Table 22: Paraguayan Life Insurance - Total Investment Income (PYG Billion), 2013-2018 
Table 23: Paraguayan Life Insurance - Retentions (PYG Billion), 2009-2013 
Table 24: Paraguayan Life Insurance - Retentions (PYG Billion), 2013-2018 
Table 25: Paraguayan Individual Life Insurance - Written Premium (PYG Billion), 2009-2013 
Table 26: Paraguayan Individual Life Insurance - Written Premium (PYG Billion), 2013-2018 
Table 27: Paraguayan Group Life Insurance - Written Premium (PYG Billion), 2009-2013 
Table 28: Paraguayan Group Life Insurance - Written Premium (PYG Billion), 2013-2018 
Table 29: Paraguayan Non-Life Insurance - Written Premium by Category (PYG Billion), 2009-2013 
Table 30: Paraguayan Non-Life Insurance - Written Premium by Category (US$ Million), 2009-2013 
Table 31: Paraguayan Non-Life Insurance - Written Premium by Category (PYG Billion), 2013-2018 
Table 32: Paraguayan Non-Life Insurance - Written Premium by Category (US$ Million), 2013-2018 
Table 33: Paraguayan Non-Life Insurance - Paid Claims (PYG Billion), 2009-2013 
Table 34: Paraguayan Non-Life Insurance - Paid Claims (PYG Billion), 2013-2018 
Table 35: Paraguayan Non-Life Insurance - Incurred Loss (PYG Billion), 2009-2013 
Table 36: Paraguayan Non-Life Insurance - Incurred Loss (PYG Billion), 2013-2018 
Table 37: Paraguayan Non-Life Insurance - Loss Ratio (%), 2009-2013 
Table 38: Paraguayan Non-Life Insurance - Loss Ratio (%), 2013-2018 
Table 39: Paraguayan Non-Life Insurance - Combined Ratio (%), 2009-2013 
Table 40: Paraguayan Non-Life Insurance - Combined Ratio (%), 2013-2018 
Table 41: Paraguayan Non-Life Insurance - Total Assets (PYG Billion), 2009-2013 
Table 42: Paraguayan Non-Life Insurance - Total Assets (PYG Billion), 2013-2018 
Table 43: Paraguayan Non-Life Insurance - Total Investment Income (PYG Billion), 2009-2013 
Table 44: Paraguayan Non-Life Insurance - Total Investment Income (PYG Billion), 2013-2018 
Table 45: Paraguayan Non-Life Insurance - Retentions (PYG Billion), 2009-2013 
Table 46: Paraguayan Non-Life Insurance - Retentions (PYG Billion), 2013-2018 
Table 47: Paraguayan Property Insurance - Written Premium (PYG Billion), 2009-2013 
Table 48: Paraguayan Property Insurance - Written Premium (PYG Billion), 2013-2018 
Table 49: Paraguayan Motor Insurance - Written Premium (PYG Billion), 2009-2013 
Table 50: Paraguayan Motor Insurance - Written Premium (PYG Billion), 2013-2018 
Table 51: Paraguayan Liability Insurance - Written Premium (PYG Billion), 2009-2013 
Table 52: Paraguayan Liability Insurance - Written Premium (PYG Billion), 2013-2018 
Table 53: Paraguayan Marine, Aviation and Transit Insurance - Written Premium (PYG Billion), 2009-2013 
Table 54: Paraguayan Marine, Aviation and Transit Insurance - Written Premium (PYG Billion), 2013-2018 
Table 55: Paraguayan Persol Accident and Health Insurance - Written Premium by Category (PYG Billion), 2009-2013 
Table 56: Paraguayan Persol Accident and Health Insurance - Written Premium by Category (US$ Million), 2009-2013 
Table 57: Paraguayan Persol Accident and Health Insurance - Written Premium by Category (PYG Billion), 2013-2018 
Table 58: Paraguayan Persol Accident and Health Insurance - Written Premium by Category (US$ Million), 2013-2018 
Table 59: Paraguayan Persol Accident and Health Insurance - Paid Claims (PYG Billion), 2009-2013 
Table 60: Paraguayan Persol Accident and Health Insurance - Paid Claims (PYG Billion), 2013-2018 
Table 61: Paraguayan Persol Accident and Health Insurance - Incurred Loss (PYG Billion), 2009-2013 
Table 62: Paraguayan Persol Accident and Health Insurance - Incurred Loss (PYG Billion), 2013-2018 
Table 63: Paraguayan Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013 
Table 64: Paraguayan Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018 
Table 65: Paraguayan Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013 
Table 66: Paraguayan Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018 
Table 67: Paraguayan Persol Accident and Health Insurance - Total Assets (PYG Billion), 2009-2013 
Table 68: Paraguayan Persol Accident and Health Insurance - Total Assets (PYG Billion), 2013-2018 
Table 69: Paraguayan Persol Accident and Health Insurance - Total Investment Income (PYG Billion), 2009-2013 
Table 70: Paraguayan Persol Accident and Health Insurance - Total Investment Income (PYG Billion), 2013-2018 
Table 71: Paraguayan Persol Accident and Health Insurance - Retentions (PYG Billion), 2009-2013 
Table 72: Paraguayan Persol Accident and Health Insurance - Retentions (PYG Billion), 2013-2018 
Table 73: Paraguayan Persol Accident Insurance - Written Premium (PYG Billion), 2009-2013 
Table 74: Paraguayan Persol Accident Insurance - Written Premium (PYG Billion), 2013-2018 
Table 75: Paraguayan Health Insurance - Written Premium (PYG Million), 2009-2013 
Table 76: Paraguayan Health Insurance - Written Premium (PYG Million), 2013-2018 
Table 77: Paraguayan Reinsurance Ceded by Insurance Industry (PYG Billion), 2009-2013 
Table 78: Paraguayan Reinsurance Ceded by Insurance Industry (US$ Million), 2009-2013 
Table 79: Paraguayan Reinsurance Ceded by Insurance Industry (PYG Billion), 2013-2018 
Table 80: Paraguayan Reinsurance Ceded by Insurance Industry (US$ Million), 2013-2018 
Table 81: Paraguayan Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013 
Table 82: Paraguayan Life Insurance - Percentage of Reinsurance Ceded (%),2013-2018 
Table 83: Paraguayan Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013 
Table 84: Paraguayan Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018 
Table 85: Paraguayan Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013 
Table 86: Paraguayan Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018 
Table 87: Paraguay - Life Insurance Regulatory Framework 
Table 88: Paraguay - Property Insurance Regulatory Framework 
Table 89: Paraguay - Motor Insurance Regulatory Framework 
Table 90: Paraguay - Minimum Capital Requirements 
Table 91: Paraguay - Corporate Tax Rates for the Fincial Year 2014 
Table 92: Market Share of Leading Company, Paraguay - 2012 and 2013 
Table 93: Mapfre Paraguay Compania de Seguros - Main Products 
Table 94: Mapfre Paraguay Compania de Seguros - Key Employees 
Table 95 Aseguradora del Este SA de Seguros - Main Products 
Table 96: Aseguradora del Este SA de Seguros - Key Employees 
Table 97 La Consolidada SA de Seguros - Main Products 
Table 98 Seguridad SA Compania de Seguros - Main Products 
Table 99 Aseguradora Paraguaya SA - Main Products