Honduras: Insurance Market at the End of 2016

Three companies accounted for 62% of total premium production and about 50% of the system's assets.

Tuesday, August 1, 2017

From a report by Fitch Ratings Central America:

Industry Concentrated by Market Players : The Honduran insurance sector is made up of 12 competitors. In 2016, the three main companies accounted for 62% of total premium production and about 50% of the system's assets. Two of these belong to financial groups and benefit from the related banking channel and businesses referred by them to achieve greater penetration within the market. The entry of two new competitors, subsidiaries of regional groups, could favor the creation of a new market and the development of more products. Fitch Ratings does not expect changes in the concentration of the main players in the market.  

Growth Driven by Life Business and Investment in Construction:   In 2016, the growth of the sector was sustained mainly in the life and health business (55% of the total subscribed). In 2017, Fitch expects this trend to continue because of the interest in securing collective life portfolios. It believes that growth could also stem from increased production in general damage insurance, considering that construction will be the economic activity that will support the growth of gross domestic product in 2017, according to data from the Central Bank of Honduras (BCH).  

More on this topic

Insurance Market Up 7% in 2019

April 2020

Last year in El Salvador, net premium income totaled $702 million, 6.8% higher than in 2018.

Directors of the Salvadoran Association of Insurance Companies (ASES) explained that between 2018 and 2019 net premium income increased by $44 million, from $658 million to $702 million.

Insurance Market: Figures in 2018

January 2019

Because of vehicle and health insurance performance, premiums paid in Panama last year totaled $1.562 million, 6% more than in 2017.

Preliminary figures from the Superintendence of Insurance and Reinsurance detail that last year income from vehicle insurance totaled $321 million and increased 9% with respect to 2017.

Insurance in Central America: Outlook for 2018

March 2018

Projections are that this year growth of the Central American insurance sector will be driven by activities in the markets of Costa Rica and Guatemala.

From the report "Prospects 2018: Insurance Sector in Central America" by Fitch Ratings:

Insurance in Central America: 2015 Outlook

January 2015

Fitch Ratings expects moderate growth in premiums in Costa Rica, increased interest in personal insurance in Guatemala, and stable performance in Nicaragua and Honduras.

From the report "Outlook 2015: Central American Insurance Sector":

Costa Rica:

Moderate growth in premiums

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