Biggest Insurance Companies In Latin America
If we analyze the market by life and non life premiums the same trend continues.
Biggest insurance companies in latin america. Country with the largest number of insurtech companies in latin america brazil detailed statistics. In order to distinguish longer term trends from current trends the study shows the dynamic observed over a ten. As in previous editions this fundación mapfre s ranking classifies the main insurance groups operating in latin america by premium volume considering the total market as well as life and non life segments. It is important to mention that the insurance industry in latin america is not considered a highly concentrated industry the 25 most important companies barely concentrate 64 1 of the total premiums.
This report provides a dynamic vision of said insurance groups growth differentiating between structural trends 2009 2019 and conjectural situations related to annual performance. The mexican insurance market is the second largest in latin america. Insurance companies 2018 by premiums. Mexico had 7 companies amongsts the top 20.
As of december 2015 gross premiums totaled approximately us 22 5 billion an increase of 7 3 over the prior year. However the life market has a level of concentration higher than the non life. This new edition of the ranking of the largest insurance groups in latin america in 2017 maintains the analysis criteria using premium volume from previous versions providing a dynamic view of the behavior of market players both from a growth perspective as well as concentration. List of the top 20 largest american insurance companies by market capitalization.
Each company is detailed with presentations of its. Total turnover for the industry reached 145 200 million. The latin american insurance industry shrank by 3 7 percent in 2016 following the depreciation of most of the region s currencies. Yet the industry continues to grow against a backdrop of low inflation declining unemployment and government consolidation.
These are the findings of the annual study on the latin american insurance market conducted mapfre economic research and published by fundación mapfre. Three out of the five biggest companies in latin america based on revenue were from brazil with petrobras leading the ranking. The insurance penetration is one of the lowest in the region almost 2 2 of gdp.
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