Insurance & Banking in Latin America - Industry News
Insurance companies in Panama - 2024.06 Rankings
As of June 2024, Panama's insurance market continues to demonstrate a strong concentration among leading players, with a significant portion of the business being controlled by the top five insurers. The market in terms of direct premium volume, considering all types of coverage, is dominated by ASSA Compa?ía de Seguros, which holds a commanding 23.3% of the market share.
The next largest player is Compa?ía Internacional de Seguros with 15.5%, followed by MAPFRE Panamá at 13.8%. Pan American Life Insurance de Panamá and Seguros Suramericana complete the top five, with 8.2% and 8.1% market shares, respectively. Collectively, these five entities account for 68.8% of the total business in Panama's insurance sector.
Credit and Debit card payments by category in Mexico - 2024.08 Rankings
The credit and debit card market in Mexico has shown substantial growth in 2024, reflecting the increasing reliance on digital payments across various sectors. As of August 2024, credit and debit card transactions have demonstrated significant interannual increases in both the total value of transactions and the number of operations, underscoring the country's ongoing shift towards a more digitalized economy.?
In the credit card segment, the total value of operations reached MX$201.4 billion, with 239.9 million transactions recorded. These figures represent a 17.99% increase in the value of transactions and a 19.76% rise in the number of operations on a year-over-year basis. Monthly growth rates also indicate a consistent upward trajectory, with a 2.05% increase in transaction value and a 3.51% rise in the number of transactions from July to August 2024.?
For debit cards, the market exhibited even more pronounced growth. The total value of transactions in August 2024 was MX$290.5 billion, with 626.1 million transactions conducted. These figures reflect a robust 21.44% annual increase in transaction value and a 26.02% jump in the number of operations compared to the same period in 2023. Monthly growth, while slightly more moderate, still underscores the strong demand for debit card usage, with a 1.30% increase in the value of transactions and a 4.60% rise in transaction volume.
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Insurance companies in Honduras - 2024.06 Rankings
The insurance market in Honduras has shown strong growth during the first half of 2024, reflecting a continued upward trend in premium volume and market expansion across various insurance lines. By June 2024, net premiums reached a total of 9,361 million Lempiras, a significant increase from the 8,233 million Lempiras recorded in June 2023. This represents an annual growth rate of 13.7%, driven by both life and general insurance segments.
In terms of market share distribution among the leading insurers, FICOHSA SEGUROS maintained its position as the dominant player with a 23.9% share as of June 2024. MAPFRE SEGUROS followed with 17.7%, while SEGUROS ATLáNTIDA held 11.8% of the market. PALIC, with a 9.7% share, and SEGUROS DAVIVIENDA, capturing 8%, rounded out the top five insurers in the market.
Consumer and commercial lending market in Guatemala - 2024.06 Rankings
The consumer and commercial lending market in Guatemala has shown almost 16% YoY growth as of June 2024, reflecting the dynamics of various credit products and the performance of key players in the industry. The total loan portfolio, combining banks and financial companies, reached 333 billion Quetzales, marking a 15.9% nominal year-on-year growth. This expansion underscores the continued demand for credit across different sectors of the economy.
The competitive landscape of the lending market saw big shifts. Banco Industrial, one of the largest players, achieved the most significant market share growth, increasing by 1.18%. Banco Promerica followed with a 0.50% market share gain, and Banco CHN with 0.49%. These gains indicate strong positioning strategies and potentially aggressive lending or marketing tactics. G&T Continental and Financiera Consolidada also posted increases in their market shares, with 0.10% and 0.06%, respectively.?