Banking & Insurance Latin America - New Reports
Insurance Distribution Channels in Chile - 2023.12 Rankings
As of December 2023, the volume of premiums intermediated in Chile, expressed in millions of Chilean Pesos, shows a clear distribution across different types of coverage. For non-life insurance, the volume amounted to 4,32 billion pesos, while life insurance premiums reached 1,81 billion pesos.
The total volume for all types of coverage combined stood at 6,13 billion pesos and the annual variation in the volume of premiums intermediated reveals growth across all types of coverage. Non-life insurance premiums saw an increase of 6%, while life insurance premiums grew by 12%. Overall, the total volume of premiums intermediated experienced an annual growth rate of 8%.
Breaking down the interannual variation in the volume of premiums intermediated by different channels, bancassurance experienced a decline of 3%. On the other hand, the retail channel saw a substantial increase of 35%. Agents and brokers reported a growth of 7%, and brokers alone registered an 11% increase.?
Examining the ranking of intermediaries with the most significant growth in market share for life insurance, the top performers include Corredora de Seguros Ripley, La Polar Corredores, Bancoestado Corredores, Corredora de Seguros La Camara and Fr Group Corredores.
Analyzing Key Financial Metrics in Peru's Banking Sector - 2024.03 Rankings
The banking market in Peru has exhibited various changes in its key financial metrics between March 2023 and March 2024. The total assets for the period ending March 2024 stood at 141296 million USD, an increase from 135510 million USD in March 2023. The credit portfolio, however, experienced a slight decrease from 87675 million USD in March 2023 to 86935 million USD in March 2024.
Deposits within the banking sector grew from 87199 million USD in March 2023 to 91435 million USD by March 2024. This growth is reflected in the sector's income, which increased from 2,901.85 million USD to 3,191.33 million USD over the same period. The net equity of the banks also saw an improvement, rising from 16157 million USD in March 2023 to 17002 million USD in March 2024.
However, the results before taxes indicate a decline, dropping from 952.8 million USD in March 2023 to 775.4 million USD in March 2024. This decrease is highlighted by an 18.6% reduction in the pre-tax results.When analyzing the year-on-year percentage changes, the total assets of the banking sector increased by 4.3%. The credit portfolio saw a decline of 0.8%. Deposits increased by 4.9%, and incomes saw a notable rise of 10%. The net equity showed a growth of 5.2%.
The results before taxes experienced a significant decline of 18.6%.In terms of market share growth in assets, the leading banks include Banco BBVA Perú, Interbank, Banco Interamericano de Finanzas, Banco BCI Perú, and Banco GNB. Regarding the highest final results obtained, Banco de Crédito del Perú, Banco BBVA Perú, Scotiabank Perú, Interbank, and Citibank emerged as leaders.
Latin American Automotive Insurance Market 2023: Key Players and Competitive Landscape - Rankings 2023.12
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As of December 2023, the Latin American automotive insurance market has a total net premiums amounting to USD 34,4 billion. Analyzing the market shares of individual countries, Brazil stands as the leader with a substantial 33% of the total premiums issued. Mexico follows closely, holding 26% of the market. Argentina, with its robust automotive industry, contributes 16.7%. Colombia, another major player in the region, accounts for 8.3%, while Chile and Peru add 4.7% and 1.7% respectively.
In terms of the relative weight of these markets, Brazil, Mexico, and Argentina collectively represent 76.5% of the total regional volume. Brazil alone, with its diverse and expansive market, represents over a third of the region’s premiums. Mexico's significant share underscores its strong automotive sector and insurance market growth. Argentina’s contribution, while slightly lower, reflects its importance in the regional context. Colombia’s market, while smaller in comparison, is notable for its steady growth, and Chile’s stable economic conditions support its substantial share. Peru, though representing a smaller segment, plays a crucial role in the Andean market.
The competitive landscape of the automotive insurance market in Latin America is diverse, with a total of 376 insurers operating across the region. Argentina leads in terms of the number of competing insurers, with 69 companies vying for market share. This high level of competition in Argentina reflects its developed and complex insurance market structure. Brazil, despite its vast market, has 41 active insurers, indicating a more consolidated market. Mexico, another large market, hosts 34 insurers, showcasing a balance between competition and market consolidation.??
In Colombia, 17 insurers operate, navigating a competitive yet burgeoning market. Chile, with its 18 insurers, demonstrates a well-balanced competitive environment. Peru, with 9 insurers, reflects a more concentrated market compared to its larger regional counterparts. The significant number of insurers in each of these countries underscores the varied market dynamics and the competitive pressures each insurer faces in securing market share.
Paraguay's Credit Card Market: Key Insights - 2024.03 Rankings
The latest business indicators for the credit card market in Paraguay reveal a dynamic landscape marked by significant growth and evolving consumer behavior. As of the most recent reporting period, the number of active credit cards in circulation has reached 1.2 million, reflecting a robust 10.7% increase compared to the fourth quarter of 2023. This uptick underscores a growing reliance on credit cards among consumers for everyday transactions.?
Monthly purchases at Points of Sale (POS) have also experienced a notable rise. The volume of these transactions has grown to 3.1 million per month, which is a 4.6% increase from the first quarter of 2023. This growth indicates a steady adoption of credit cards for in-store purchases, highlighting a shift towards cashless transactions in physical retail environments.
Online purchases are showing an even more pronounced increase, with 688,000 transactions recorded per month. This represents a significant 15% surge compared to the first quarter of 2023. The data suggest that consumers are increasingly comfortable with using credit cards for e-commerce, driven possibly by the convenience and security that online shopping offers.
Monthly purchases at POS have reached an impressive 596 billion Guaraníes, marking a 9.2% rise from the first quarter of 2023. This increase in spending volume at POS reflects both higher transaction frequency and potentially higher average transaction values. The infrastructure supporting these transactions, represented by the number of POS terminals, has also seen a slight increase of 0.5%, bringing the total to 98212 terminals. This expansion ensures that consumers have more access points to use their credit cards, facilitating the overall growth in POS transactions.
Financing through credit cards has also grown, with the total value of financing reaching 3952 billion Guaraníes, up by 4% from the fourth quarter of 2023. This growth indicates that more consumers are leveraging their credit lines for larger purchases or managing cash flows, reflecting a trust in the financial products offered by credit card issuers.
Among the notable performers, Ueno Bank has achieved substantial growth, increasing its market share by 2.5% to reach 2.8% in Q1 2024, up from just 0.3% in Q1 2023. This remarkable rise places Ueno Bank in the ninth position overall.?
Continental Bank also showed a positive trend, with a market share increase of 0.69%, bringing it to 8.8%, up from 8.1% in the previous quarter, securing the third spot in the rankings. Financiera FIC saw a growth of 0.23%, reaching a market share of 0.4% from 0.2%, moving it to the 18th position. Bancop experienced a slight increase of 0.09%, maintaining a stable market share at 1.0%, positioning it at 13th. ZetaBanco had a minor uptick of 0.03%, increasing its market share to 0.5% from 0.4%, placing it at 16th. On the other hand,
Bancard leads the market with a 0.38% increase in market share, solidifying its first-place position. Bepsa, despite being in the fourth position, experienced a slight decline of 0.10% in market share. ProCard faced a more considerable drop, losing 0.32% of its market share. Cabal, ranked third, also saw a minor decrease of 0.08%. Lastly, Panal experienced a positive growth of 0.12%, securing the second position.