New reports | Banking & Insurance Latin America
Insurance Market in Honduras - 2023.12 Rankings
The insurance sector in Honduras has experienced significant expansion, culminating in a net premium volume of L$ 16.540 million at the close of Q4.2023. This figure reflects a noteworthy annual nominal increase of 15.6% compared to the L$14.312 million recorded at the end of 2022.
Upon delving into the breakdown by coverage type, the Life insurance segment demonstrated an average annual growth of 17.8%, while the non-Life insurance sector experienced a commendable increase of 14.9%. Furthermore, Accident and Health premiums saw a growth of 12.8%, with Surety premiums soaring by 20.1%.
The market share growth ranking, considering the premium volume across all insurance categories, positions CREFISA at the forefront, boasting a growth of 1.38 market share points. Following closely are PALIC with a +0.49% increase and SEGUROS CONTINENTAL with a +0.36% surge. ASSA and SEGUROS LAFISE round out the top five insurers, concluding 2023 with advances of +0.28 and +0.19 points, respectively.
In terms of business volume, FICOHSA continues to dominate, securing the leading position with a substantial 23.3% market share. MAPFRE follows closely with a 17.5% share. SEGUROS ATLANTIDA claims the third spot with 13.7%, and SEGUROS DAVIVIENDA secures the fourth position with 8.1% of the market. Together, these four insurers collectively command an impressive 62.7% of the local market volume.
Consumer and Commercial Credit Market in Guatemala - 2023.12 Rankings
As of Q4.2023, the loan portfolio volume in Guatemala reached Q$ 264.252 million, reflecting a 12.2% year-over-year nominal increase across both local and foreign currency placements.?Throughout 2023, the credit business exhibited diverse trends by financing type. Collateral placements saw a 17% annual growth, the mortgage portfolio experienced a 10% annual increase, commercial and business lines averaged an 8.3% annual rise, and credit card financings surged by 37.3% compared to the end of 2022.
Market share growth rankings among competitors, considering all financing lines, reveal BANTRAB leading with a +0.70 market share point gain, followed by BANCO CHN with +0.55 points and BANCO INDUSTRIAL with +0.51 points. PROMERICA and INTERBANCO complete the top five leaders with advances of +0.25 and +0.20 points, respectively.
Examining the total portfolio volume as of December 2023, INDUSTRIAL BANK secures the top spot, encompassing consumer and commercial loans in local and foreign currency, with a commanding 32% market share. Following are BANRURAL (15.7%), G&T (11.2%), BAC (9.9%), and BANTRAB (9.5%), collectively managing 78% of the local credit volume. The remaining 13 banking entities handle the rest.
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The market share distribution fluctuates significantly across different financing types. For instance, in the consumer portfolio, PROMERICA, BAC, BANCO INDUSTRIAL, and BANRURAL jointly oversee nearly 80% of the business. Meanwhile, in commercial financing with guarantees, BANCO INDUSTRIAL, BAM, and INTERBANCO together manage 68% of the portfolio.
Insurance Distribution Channels in Argentina - 2023.09 Rankings
At the end of Q3 2023, the commissions awarded to insurance agents, brokers, and bancassurance in Argentina exhibit a notable nominal year-on-year surge of 146%. When scrutinizing the data by intermediary type, commissions for agents and brokers have recorded an average escalation of 150%, whereas those for bancassurance and other alliances have witnessed a growth of 124%.
In terms of market share expansion within the realm of commissions disbursed by insurers to insurance agents and brokers, TRIUNFO SEGUROS secures the top position with an increase of +0.94 percentage points, closely trailed by SEGUROS RIVADAVIA with a gain of +0.53%. LA SEGUNDA (+0.35%), MERIDIONAL SEGUROS (+0.30%), and PROVINCIA SEGUROS (+0.29%) round off the list of the five leading entities in this metric as of the quarter's end. ??
Conversely, delving into commissions directed to Bancasseguros and other commercial alliances, LIFE SEGUROS emerges as the frontrunner, achieving the first position with a remarkable growth of +2.26% in market share points. ZURICH-SANTANDER, making strides with +1.77%, and QUALIA, exhibiting a noteworthy +1.33% increase, follow closely behind with commendable performances. LA CAJA (+0.76%) and SAN CRISTOBAL SEGUROS (+0.43%) secure the fourth and fifth positions, respectively.
Moreover, considering the overall volume of commissions across all channels, FEDERACIóN PATRONAL retains its premier standing with a 10.15% market share, closely pursued by SANCOR SEGUROS at 8.37%. Out of the 126 entities that have reported commissions in the analyzed period, the dominance of the leading players remains decisive, with the top 10 insurers commanding 50.4% of the total commissions in the market.