The Insurance Industry in Paraguay, Key Trends and Opportunities to 2020

Published: Jul, 2016 | Pages: 148 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

Timetric's 'The Insurance Industry in Paraguay, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Paraguayan insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011-2015) and forecast periods (2015-2020).

The report also gives a comprehensive overview of Paraguayan economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes the impact of natural and man-made hazards on the insurance industry.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.
Summary

Timetric's 'The Insurance Industry Paraguay, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Paraguayan insurance industry, including:

• An overview of the Paraguayan insurance industry

• The industry's growth prospects by segment and category

• A comprehensive overview of the Paraguayan economy and demographics

• The detailed competitive landscape in the industry

• Detailed regulatory policies of the industry

• An analysis of natural hazards in the industry
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 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

• It offers a detailed analysis of the key segments in the industry, with market forecasts to 2020.

• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

• It profiles the top insurance companies in Paraguay, and outlines the key regulations affecting them.

• It covers the economy and demographic structure of Paraguay.

• It analyzes the impact of natural and man-made hazards in the Paraguayan insurance industry.
Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Paraguayan insurance industry and each segment and category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the industry.

• Assess the competitive dynamics in the industry.

• Identify the growth opportunities and market dynamics in key segments.

• Gain insights into key regulations governing the industry, and their impact on companies and the industry's future.
Key Highlights

• Paraguay is a lower-middle income country that is heavily dependent on agricultural exports.

• The Paraguayan insurance industry is supervised and regulated by the Superintendente de Seguros.

• Composite insurance is not permitted in the industry, but both life and property insurance companies can underwrite and sell accident and health insurance.

• In May 2014, mandatory traffic accident insurance was reintroduced in Paraguay, and was applicable for all types of automobile.

• The industry posted a review-period CAGR of 15.1%, due to a favorable regulatory environment and economic recovery.

• Non-life insurance is the leading segment, and accounted for 83.8% of the industry's gross written premium in 2015.

 Table of Contents
1 KEY FACTS AND HIGHLIGHTS
2 EXECUTIVE SUMMARY
3 ECONOMY AND DEMOGRAPHICS
4 INDUSTRY OUTLOOK
4.1 Regional Comparison
4.2 Industry Indicators
4.2.1 Gross written premium
4.2.2 Claims
4.2.3 Assets and investments
5 LIFE INSURANCE OUTLOOK
5.1 Gross Written Premium
5.2 Penetration
6 NON-LIFE INSURANCE OUTLOOK
6.1 Gross Written Premium
6.2 Property Insurance
6.2.1 Gross written premium
6.2.2 Penetration
6.2.3 Claims
6.2.4 Profitability
6.3 Motor Insurance
6.3.1 Gross written premium
6.3.2 Penetration
6.3.3 Claims
6.3.4 Profitability
6.4 Liability Insurance
6.4.1 Gross written premium
6.4.2 Penetration
6.4.3 Claims
6.4.4 Profitability
6.5 Marine, Aviation and Transit Insurance
6.5.1 Gross written premium
6.5.2 Penetration
6.5.3 Claims
6.5.4 Profitability
7 PERSONAL ACCIDENT AND HEALTH INSURANCE OUTLOOOK
7.1 Personal Accident Insurance
7.1.1 Gross written premium
7.1.2 Penetration
7.1.3 Claims
7.1.4 Profitability
7.2 Health Insurance
7.2.1 Gross written premium
7.2.2 Penetration
7.2.3 Claims
7.2.4 Profitability
7.3 Travel Insurance
7.3.1 Gross Written Premium
7.3.2 Penetration
7.3.3 Claims
7.3.4 Profitability
8 REINSURANCE OUTLOOK
8.1 Reinsurance Accepted
8.2 Premium Ceded
9 NATURAL HAZARDS
9.1 Flooding
9.2 Storms
9.3 Epidemics
10 COMPETITIVE LANDSCAPE
10.1 Company Profiles
10.1.1 Mapfre Paraguay Compania de Seguros SA - company overview
10.1.2 Aseguradora del Este SA de Seguros y Reaseguros - company overview
10.1.3 La Consolidada SA de Seguros - company overview
10.1.4 Aseguradora Yacyreta SA de Seguros y Reaseguros - company overview
10.1.5 Seguridad SA Compania de Seguros - company overview
11 GOVERNANCE, RISK AND COMPLIANCE
11.1 Legislation Overview and Historical Evolution
11.2 Latest Changes in Regulation
11.3 Legislation and Market Practice by Type of Insurance
11.3.1 Life Insurance
11.3.2 Property Insurance
11.3.3 Motor Insurance
11.3.4 Liability insurance
11.3.5 Marine, aviation and transit insurance
11.3.6 Personal accident and health insurance
11.4 Compulsory Insurance
11.4.1 Compulsory traffic accident insurance
11.4.2 Insurance for passengers of public transport
11.4.3 Aviation third-party liability insurance
11.4.4 Social security scheme
11.4.5 Professional indemnity insurance for reinsurance brokers
11.5 Supervision and Control
11.5.1 International Association of Insurance Supervisors
11.5.2 Association of Insurance Supervisors Latin America
11.5.3 Superintendent of Insurance
11.6 Non-Admitted Insurance Regulations
11.6.1 Overview
11.6.2 Intermediaries
11.6.3 Market practices
11.6.4 Fines and Penalties
11.7 Company Registration and Operations
11.7.1 Type of insurance organization
11.7.2 Establishing a local company
11.7.3 Foreign ownership
11.7.4 Types of license
11.7.5 Capital requirements
11.7.6 Solvency margin
11.7.7 Reserve requirements
11.7.8 Investment regulations
11.7.9 Statutory return requirements
11.7.10 Fee structure
11.8 Taxation
11.8.1 Insurance premium or policy taxations
11.8.2 Withholding taxes on premium paid overseas.
11.8.3 Corporate tax
11.8.4 VAT
11.8.5 Captives
11.9 Legal System
11.9.1 Introduction
11.9.2 Access to court
11.9.3 Alternative dispute resolution (ADR)
12 DATABOOK
12.1 Life Insurance
12.1.1 Policies and premium
12.1.2 Claims and expenses
12.1.3 Assets and investments
12.1.4 Individual life insurance
12.1.5 Individual life insurance by product
12.1.6 Non-linked policies
12.2 Non-Life Insurance
12.2.1 Policies and premium
12.2.2 Claims and expenses
12.2.3 Assets and investments
12.2.4 Property insurance
12.2.5 Property insurance by product
12.2.6 Motor insurance
12.2.7 Liability insurance
12.2.8 Marine, aviation and transit insurance
12.3 Personal Accident and Health Insurance
12.3.1 Policies and premium
12.3.2 Claims and expenses
12.3.3 Assets and investments
12.3.4 Personal accident insurance
12.3.5 Health insurance
12.3.6 Travel insurance
13 DEFINITIONS AND METHODOLOGY
13.1 Definitions
13.2 Methodology
14 ABOUT TIMETRIC
14.1 Contact Timetric
14.2 About Timetric
14.3 Timetric's Services
14.4 Disclaimer

List of Tables
Table 1: Paraguayan Insurance Industry - Key Facts, 2015
Table 2: Paraguayan Insurance Industry - Segment Shares of the Top Insurers, 2015
Table 3: Paraguayan Government Credit Ratings
Table 4: Paraguayan Insurance Industry - Gross Written Premium by Segment (PYG Billion), 2011-2015
Table 5: Paraguayan Insurance Industry - Gross Written Premium by Segment (PYG Billion), 2015-2020
Table 6: Paraguayan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (PYG), 2011-2015
Table 7: Paraguayan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (PYG), 2015-2020
Table 8: Paraguayan Insurance Industry - Paid Claims by Segment(PYG Billion), 2011-2015
Table 9: Paraguayan Insurance Industry - Paid Claims by Segment(PYG Billion), 2015-2020
Table 10: Paraguayan Insurance Industry - Total Assets by Segment (PYG Billion), 2011-2015
Table 11: Paraguayan Insurance Industry - Total Assets by Segment (PYG Billion), 2015-2020
Table 12: Paraguayan Insurance Industry - Total Investment Income by Segment (PYG Billion), 2011-2015
Table 13: Paraguayan Insurance Industry - Total Investment Income by Segment (PYG Billion), 2015-2020
Table 14: Paraguayan Individual Life Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table15: Paraguayan Individual Life Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 16: Paraguayan Non-Life Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table 17: Paraguayan Non-Life Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 18: Paraguayan Property Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table 19: Paraguayan Property Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 20: Paraguayan Property Insurance - Paid Claims (PYG Billion and US$ Million),2011-2015
Table21: Paraguayan Property Insurance - Paid Claims (PYG Billion and US$ Million), 2015-2020
Table 22: Paraguayan Property Insurance - Loss Ratio (%),2011-2015
Table 23: Paraguayan Property Insurance - Loss Ratio(%), 2015-2020
Table 24: Paraguayan Motor Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table 25: Paraguayan Motor Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 26: Paraguayan Motor Insurance - Paid Claims (PYG Billion and US$ Million),2011-2015
Table 27: Paraguayan Motor Insurance - Paid Claims (PYG Billion and US$ Million), 2015-2020
Table 28: Paraguayan Motor Insurance - Loss Ratio (%),2011-2015
Table 29: Paraguayan Motor Insurance - Loss Ratio(%), 2015-2020
Table 30: Paraguayan Liability Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table 31: Paraguayan Liability Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 32: Paraguayan Liability Insurance - Paid Claims (PYG Billion and US$ Million),2011-2015
Table 33: Paraguayan Liability Insurance - Paid Claims (PYG Billion and US$ Million), 2015-2020
Table 34: Paraguayan Liability Insurance - Loss Ratio (%),2011-2015
Table 35: Paraguayan Liability Insurance - Loss Ratio(%), 2015-2020
Table 36: Paraguayan Marine, Aviation and Transit Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table 37: Paraguayan Marine, Aviation and Transit Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 38: Paraguayan Marine, Aviation and Transit Insurance - Paid Claims (PYG Billion and US$ Million),2011-2015
Table 39: Paraguayan Marine, Aviation and Transit Insurance - Paid Claims (PYG Billion and US$ Million), 2015-2020
Table 40: Paraguayan Marine, Aviation and Transit Insurance - Loss Ratio (%),2011-2015
Table 41: Paraguayan Marine, Aviation and Transit Insurance - Loss Ratio(%), 2015-2020
Table 42: Paraguayan Personal Accident and Health Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table 43: Paraguayan Personal Accident and Health Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 44: Paraguayan Personal Accident Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table 45: Paraguayan Personal Accident Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 46: Paraguayan Personal Accident Insurance - Paid Claims (PYG Billion and US$ Million),2011-2015
Table 47: Paraguayan Personal Accident Insurance - Paid Claims (PYG Billion and US$ Million), 2015-2020
Table 48: Paraguayan Personal Accident Insurance - Loss Ratio (%),2011-2015
Table 49: Paraguayan Personal Accident Insurance - Loss Ratio(%), 2015-2020
Table 50: Paraguayan Health Insurance - Gross Written Premium (PYG Million and US$), 2011-2015
Table 51: Paraguayan Health Insurance - Gross Written Premium (PYG Million and US$), 2015-2020
Table 52: Paraguayan Health Insurance - Paid Claims (PYG Million and US$),2012-2015
Table 53: Paraguayan Health Insurance - Paid Claims (PYG Million and US$), 2015-2020
Table 54: Paraguayan Personal Accident Insurance - Loss Ratio (%),2011-2015
Table 55: Paraguayan Health Insurance - Loss Ratio(%), 2015-2020
Table 56: Paraguayan Travel Insurance - Gross Written Premium (PYG Billion and US$ Million), 2011-2015
Table 57: Paraguayan Travel Insurance - Gross Written Premium (PYG Billion and US$ Million), 2015-2020
Table 58: Paraguayan Travel Insurance - Paid Claims (PYG Billion and US$ Million),2011-2015
Table 59: Paraguayan Travel Insurance - Paid Claims (PYG Billion and US$ Million), 2015-2020
Table 60: Paraguayan Travel Insurance - Loss Ratio (%),2011-2015
Table 61: Paraguayan Travel Insurance - Loss Ratio(%), 2015-2020
Table 62: Paraguayan Reinsurance - Premium Accepted by Category (PYG Billion and US$ Million), 2011-2015
Table 63: Paraguayan Reinsurance - Premium Accepted by Category (PYG Billion and US$ Million), 2011-2015
Table 64: Paraguayan Reinsurance - Premium Ceded by Insurance Segment (PYG Billion), 2011-2015
Table 65: Paraguayan Reinsurance - Premium Ceded by Insurance Segment (PYG Billion), 2015-2020
Table 66: Paraguayan Average Annual Loss by Hazard
Table 67: Paraguayan Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 68: Mapfre Paraguay Compania de Seguros SA - Key Facts
Table 69: Mapfre Paraguay Compania de Seguros SA - Key Financials (PYG Billion), 2011-2015
Table 70: Aseguradora del Este SA de Seguros y Reaseguros - Key Facts
Table 71: Aseguradora del Este SA de Seguros y Reaseguros - Key Financials (PYG Billion), 2011-2015
Table 72: La Consolidada SA de Seguros - Key Facts
Table 73: La Consolidada SA de Seguros - Key Financials (PYG Billion), 2011-2015
Table 74: Aseguradora Yacyreta SA de Seguros y Reaseguros - Key Facts
Table 75: Aseguradora Yacyreta SA de Seguros y Reaseguros - Key Financials (PYG Billion), 2011-2015
Table 76: Seguridad SA Compania de Seguros - Key Facts
Table 77: Seguridad SA Compania de Seguros - Key Financials (PYG Billion), 2011-2015
Table 78: Paraguay - Insurance Regulatory Framework Key Features
Table 79: Paraguay - Life Insurance Regulatory Framework
Table 80: Paraguay - Property Insurance Regulatory Framework
Table 81: Paraguay - Motor Insurance Regulatory Framework
Table 82: Paraguay - Liability Insurance Regulatory Framework
Table  83: Paraguay - SOAT Tariff Rates
Table 84: Paraguay - Minimum Capital Requirements
Table 85: Paraguay - Corporate Tax Rates for the Financial Year 2016
Table 86: Paraguayan Life Insurance - Policies and Premium, 2011-2015
Table 87: Paraguayan Life Insurance - Policies and Premium, 2015-2020
Table 88: Paraguayan Life Insurance - Claims and Expenses, 2011-2015
Table 89: Paraguayan Life Insurance - Claims and Expenses, 2015-2020
Table 90: Paraguayan Life Insurance - Assets and Investments, 2011-2015
Table 91: Paraguayan Life Insurance - Assets and Investments, 2015-2020
Table 92: Paraguayan Life Insurance - Individual Life Insurance, 2011-2015
Table 93: Paraguayan Life Insurance - Individual Life Insurance, 2015-2020
Table 94: Paraguayan Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 95: Paraguayan Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 96: Paraguayan Life Insurance - Non-Linked Policies, 2011-2015
Table 97: Paraguayan Life Insurance -Non-Linked Policies, 2015-2020
Table 98: Paraguayan Non-Life Insurance - Policies and Premium, 2011-2015
Table 99: Paraguayan Non-Life Insurance - Policies and Premium, 2015-2020
Table 100: Paraguayan Non-Life Insurance - Claims and Expenses, 2011-2015
Table 101: Paraguayan Non-Life Insurance - Claims and Expenses, 2015-2020
Table 102: Paraguayan Non-Life Insurance - Assets and Investments, 2011-2015
Table 103: Paraguayan Non-Life Insurance - Assets and Investments, 2015-2020
Table 104: Paraguayan Non-Life Insurance - Property Insurance, 2011-2015
Table 105: Paraguayan Non-Life Insurance - Property Insurance, 2015-2020
Table 106: Paraguayan Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 107: Paraguayan Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 108: Paraguayan Non-Life Insurance - Motor Insurance, 2011-2015
Table 109: Paraguayan Non-Life Insurance - Motor Insurance, 2015-2020
Table 110: Paraguayan Non-Life Insurance - Liability Insurance, 2011-2015
Table 111: Paraguayan Non-Life Insurance - Liability Insurance, 2015-2020
Table 112: Paraguayan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 113: Paraguayan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 114: Paraguayan Personal Accident and Health Insurance - Policies and Premium, 2011-2015
Table 115: Paraguayan Personal Accident and Health Insurance - Policies and Premium, 2015-2020
Table 116: Paraguayan Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 117: Paraguayan Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 118: Paraguayan Personal Accident and Health Insurance - Assets and Investments, 2011-2015
Table 119: Paraguayan Personal Accident and Health Insurance - Assets and Investments, 2015-2020
Table 120: Paraguayan Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 121: Paraguayan Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 122: Paraguayan Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 123: Paraguayan Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 124: Paraguayan Personal Accident and Health Insurance - Travel Insurance, 2011-2015
Table 125: Paraguayan Personal Accident and Health Insurance - Travel Insurance, 2015-2020
Table 126: Insurance Industry Definitions