Insurance in Honduras: Good Results for 2017

Over the past year, premiums totaled $440 million, 8% more than in 2016, led by General Insurance and Accident and illness insurance.

Friday, February 9, 2018

n dir="ltr">According to figures from the National Commission of Banks and Insurance, at the end of 2017 the loss ratio totaled $200 million, representing 45% of premium income, 3% more than was reported in 2016.

Regarding the growth of market participants, between 2016 and 2017 Seguros Ficohsa registered a 13% increase in its premium income, going from $102 million to $116 million. 

Another company that reported growth in 2017 was Mapfre, the insurer recorded 3% growth in its revenues, increasing from $79 million in 2016 to $82 million in 2017.  

See 
statistics (in Spanish).

More on this topic

Insurance Market Up 15% in 2017

February 2018

Explained in part by the increase registered in mandatory insurance, last year income from premiums in Costa Rica added up to $1.323 billion, 15% more than in 2016.

Costa Rican authorities reported that last year the largest increase was recorded in mandatory types of insurance, with interannual increases of 26% (¢28.4 billion) in Occupational Hazards and 18% (¢7.5 billion) in the Obligatory Automotive. As a result, this category gained a 1.9 pp share with respect to voluntary insurance categories.

Insurance: More Premiums, But More Losses

January 2018

In 2017 in Panama, premiums totaled $1.471 billion, 5% more than in 2016, but the loss ratio in fires and floods increased almost four times.

According to a report by the Superintendency of Insurance and Reinsurance of Panama (SSRP), in 2017 market growth was accompanied by an increase in claims, as insurance companies paid out $119 million for the fire and flood coverage policies, a figure that exceeds the $26 million disbursed in 2016 by 365%.

Insurance Trends in Nicaragua

September 2014

Auto policies are the fastest growing category, with an increase of 14% so far this year compared to 2013.

Lack of a culture of prevention is preventing the emerging Nicaraguan insurance market from achieving high growth rates in most policies. Car policies are the most sought after, but those for life, property and health are growing slowly.

Insurance Market in Honduras Grows by 10%

February 2012

At the end of last year, 2011, the insurance market reported a growth of 9.6% compared with 2010.

According to the National Commission for Banking and Insurance (CNBS), growth in premiums was $28.7 million.

"According to the insurance industry, the only decrease, of 4%, was in the general insurance section which includes vehicle and fire policies, ..." reported the Laprensa.hn

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