Reinsurance in Venezuela, Key Trends and Opportunities to 2020

Reinsurance in Venezuela, Key Trends and Opportunities to 2020

  • June 2017 •
  • 43 pages •
  • Report ID: 1049080 •
  • Format: PDF
Synopsis
Timetric’s ’Reinsurance in Venezuela, Key Trends and Opportunities to 2020’ report provides detailed analysis of the market trends, drivers and challenges in the Venezuelan reinsurance segment.

It provides values for key performance indicators such as written premium, reinsurance ceded and reinsurance accepted during the review period (2011–2015) and forecast period (2015–2020).

The report also analyses information pertaining to the competitive landscape in the country, gives a comprehensive overview of the Venezuelan economy and demographics, and provides detailed analysis of natural hazards and their impact on the Venezuelan insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise to enable reinsurers to identify segment dynamics and competitive advantages, and access profiles of reinsurers operating in the country.

Summary
Timetric’s ’Reinsurance in Venezuela, Key Trends and Opportunities to 2020’ report provides in-depth market analysis, information and insights into the Venezuelan reinsurance segment, including:
- An outlook of the Venezuelan reinsurance segment
- A comprehensive overview of the Venezuelan economy and demographics
- Detailed analysis of natural hazards and their impact on the Venezuelan insurance industry
- The competitive landscape in the Venezuelan reinsurance segment

Scope
This report provides a comprehensive analysis of the reinsurance segment in Venezuela:
- It provides historical values for the Venezuelan reinsurance segment 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 categories in the Venezuelan reinsurance segment, and market forecasts to 2020.
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Venezuela, and the reinsurance segment’s growth prospects.
- It analyzes various natural hazards and their impact on the Venezuela insurance industry

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Venezuelan reinsurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Venezuelan reinsurance segment.
- Identify growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Venezuelan insurance industry, and their impact on companies and the industry’s future.

Key Highlights
- On February 5, 2016, Superintendencia de la Actividad Aseguradora (Sudeaseg, Superintendent of Insurance Activity) and Ministerio para Economía, Finanzas y Banca Pública (Finance and State Bank Ministry) introduced a supervisory levy for reinsurers, at a rate of 2.5% on their collected insurance premium.
- On December 30, 2015, a new Insurance Activity Law which was passed in which the government amended the minimum capital requirement for insurance companies (Article 19 of the Insurance Activities Act 2010).
- The non-life segment accounted for the highest premium ceded in 2015, with 23.1% of the non-life segment’s total, followed by the life segment with 9.1% and the personal accident and health segment with 9.2%.

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