Creditor Insurance in Latin America

  • ID: 2567206
  • Report
  • Region: America, America (exc North), Latin America
  • 206 Pages
  • Finaccord
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Our report titled Creditor Insurance in Latin America offers updated and detailed insights into the market for creditor insurance, sometimes also referred to as payment protection insurance or loan-related insurance, in six countries, namely Argentina, Brazil, Chile, Colombia, Mexico and Peru. Creditor insurance was worth USD 5.97 billion in gross written premiums in the region in 2015, including coverage for life and permanent disability as well as the temporary disability and unemployment elements.

Drawing on the results of a survey of close to 400 lending institutions, the report analyses the provision of creditor insurance by lending institutions, variances in provision by underlying lending product, operating models for provision of creditor insurance, weighted provider share of partnerships and the potential for selling creditor cover through distribution channels other than the lending institutions themselves. The PartnerBASE™ dataset that accompanies the report details each of well over 600 creditor insurance distribution deals traced by us.

You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of the following ways:

- appreciate the magnitude of the opportunity in creditor insurance in Latin America and how this breaks down between policies cross-sold in conjunction with mortgages, point-of-sale automotive finance, other consumer finance and credit cards;

- identify partnership opportunities for creditor insurance and prioritise these according to the potential that they offer as defined by the size of lending institutions’ retail customer base;

- understand the supply structure for creditor insurance in Latin America and whether specialists are winning business by virtue of their focused approach;

- assess the extent to which the provision of temporary incapacity and unemployment modules within creditor insurance policies is commonplace in different Latin American countries;

- gain insight into the presence of leading creditor insurance market participants including BNP Paribas, Bradesco, CNP Assurances, Grupo Sura, Itaú Unibanco, MAPFRE, Santander and Zurich.
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0.0 EXECUTIVE SUMMARY

Gross written premiums across the six countries amounted to over USD 6 billion in 2012...

... within which loan payment protection policies made up around USD 3.36 billion...

... and cover for temporary incapacity and unemployment approximately USD 1.20 billion

The leading eight groups are likely to account for more than two thirds of the total regional market

Bradesco is prominent as a result of Brazil's large creditor insurance market

BNP Paribas Cardif possesses the most relationships, spread across a wide range of countries

MAPFRE has concluded a significant new distribution agreement with Genworth Financial

1.0 INTRODUCTION

What is this report about?

Distribution partnerships with banks and other lending institutions constitute the focus of this report

Rationale

The report tracks over 540 separate initiatives for marketing creditor insurance

Methodology

Survey of banks and other lending institutions

Market data

Definitions

Creditor insurance

Mortgages, consumer finance and credit cards

Weighted provider share of partnerships

Operating models

Abbreviations and exchange rates

PartnerBASE™ and market data annexe

Finaccord

2.0 LATIN AMERICAN OVERVIEW

Introduction

Market analysis – consumer lending

Consumer lending balances outstanding amounted to USD 904.9 billion across the six countries in 2012

Mortgage lending in Brazil experienced particularly strong growth between 2008 and 2012...

... while Argentina displays the highest compound annual growth in consumer non-mortgage lending

Relative to its GDP, the Argentine lending market is the least developed of the six reviewed

Chile's developed lending market makes it comfortably the largest in per capita terms…

... although that of Brazil narrowed the gap between 2008 and 2012

Mortgage balances per capita remain below USD 1,000 in all countries apart from Chile

Consumer non-mortgage balances per capita are highest in Brazil and lowest in Peru

Credit card loans account for a substantial proportion of total non-mortgage lending in Argentina and Chile

Non-mortgage credit has fallen as a proportion of total consumer lending in all but one country

Brazil accounts for over 80% of the region's total credit and other pay later cards in circulation...

… although Argentina's market has grown most rapidly in recent years

In per capita terms, the credit card markets of Colombia, Mexico and Peru remain under-developed

Creditor insurance provision rates and operating models

Creditor insurance linked to mortgages

In four out of six countries, provision of mortgage-related creditor insurance is universal

Use of a single external underwriter constitutes the most regularly used operating model in three markets…

… although use of multiple external underwriters is preferred in Brazil

When analysed on a weighted basis, the use of captive underwriters is significantly more prominent

Policies including cover for temporary incapacity and unemployment are most widespread in Chile

When analysed at a group level, the leading eight provider groups account for almost 70% of this market...

... with BNP Paribas likely to be the regional leader thanks to its large number of partnerships

Creditor insurance linked to consumer finance

All eligible lending institutions in Argentina and Peru offer creditor insurance linked to consumer finance

A majority of initiatives are organised in conjunction with a single, external product provider

On a weighted basis, use of captive providers becomes more prominent within the total

In five out of six countries, there is plenty of scope for the development of fully-fledged creditor insurance

Bradesco is likely to be the region's leading provider in creditor insurance linked to consumer finance...

... with MAPFRE identifiable as the most prominent group from outside of Latin America

Creditor insurance linked to credit cards

Credit card payment protection insurance is offered most commonly by Peruvian card issuers

Even on an unweighted basis, captive underwriters are especially prominent in Brazil

Viewed on a weighted basis, captive underwriters are likely to be dominant in Brazil, Mexico and Peru

Close to a half of policies incorporate cover for one or both of temporary incapacity and unemployment

BNP Paribas, Zurich and MetLife are the closest rivals to the leading two Brazilian groups

Market analysis – creditor insurance

The total market value is predicted to advance to USD 10.73 billion in gross written premiums by 2016

Robust growth is predicted for the life insurance elements of creditor insurance...

... although the value of cover for temporary incapacity and unemployment is likely to rise more quickly

In terms of its value, Brazil's market for mortgage-related creditor insurance is easily the largest...

... although that of Chile is most well-developed relative to the size of the mortgage lending sector

In loan payment protection insurance, the most rapid growth is predicted for Colombia and Peru...

... in spite of the fact that the Colombian market is already well-developed by one key measure

The outlook for credit card payment protection insurance is apparently least auspicious in Mexico...

... while there is most theoretical scope for growth in Brazil

3.0 ARGENTINA

Banks and other lending institutions covered

Economic background

The Argentine economy has experienced periodic turbulence in recent years...

… and was still struggling with the aftermath of the latest crisis at the start of 2013

The service sector accounts for around 60% of economic output

Persistently high inflation is one of the country's most pressing problems

In the Ease of Doing Business ranking, Argentina's economy is ranked only 124th in the world

Introduction to the banking sector

In terms of its number of retail customers, Banco de la Nación leads the market

State-owned banks account for a substantial proportion of the Argentine banking sector

The leading ten banks hold over 70% of total consumer lending balances outstanding

Argentina's persistently high inflation has had a marked effect on the lending market

ICBC acquired an 80% stake in Standard Bank in October 2012

Introduction to bancassurance

Bancassurance accounts for a distribution share of around one quarter of total life insurance...

... with several banks having established captive underwriters

CNP Assurances and Zurich have both entered into bancassurance joint ventures in recent years

In Argentina, bancassurance is characterised by relatively 'light touch' regulation

Consumer lending market size and growth

Mortgage lending

Residential mortgage balances grew at an annual rate of just 2.6% in real terms between 2008 and 2012

Non-mortgage lending

Non-mortgage balances are significantly larger in value than mortgage balances

Credit and other pay later cards

Having hit a plateau between 2008 and 2010, the credit card market surged in 2011 and 2012

Creditor insurance provision rates, operating models and partnerships

Creditor insurance linked to mortgages

All mortgage lending institutions have an arrangement for related creditor insurance

By weighted share of partnerships, Galicia Seguros is the most prominent competitor...

... albeit there are also opportunities for non-captive insurers

Creditor insurance linked to consumer finance

Loan payment protection insurance is also offered by all eligible lenders in Argentina...

... with MetLife the most visible non-indigenous insurance provider...

... and Sancor the most prominent non-captive underwriter

Cardif holds the most distribution partnerships...

... in a crowded market in which there are over 20 competing underwriters in total

Creditor insurance linked to credit cards

Schemes for credit card payment protection insurance are also widespread in Argentina...

... with Assurant more visible in this domain than for the other types of creditor insurance

A very large number of underwriters is active in this area...

... although 19 credit card issuers have no apparent scheme in place for this type of cover

Creditor insurance risk coverage

A handful of lenders have introduced cover for one or both of temporary incapacity and unemployment

Creditor insurance market size, growth and forecast

The creditor insurance market is likely to have accelerated rapidly between 2008 and 2012

4.0 BRAZIL

Banks and other lending institutions covered

Economic background

Brazil's economy has performed very strongly in recent years...

… with substantial natural resources boosting growth

The service sector accounts for over two thirds of Brazilian GDP

In the World Bank's Ease of Doing Business Index, Brazil's is ranked only 126th in the world

Introduction to the banking sector

In terms of its total number of retail customers Bradesco leads the market

Government-owned Banco do Brasil is ranked second by number of customers

As a percentage of GDP, lending to the private sector has almost doubled since 2003...

... with consumer credit having increased as a consequence of several factors

Retail sector card issuers account for the majority of credit cards in circulation in Brazil

The banking sector is fairly concentrated with the ten largest banks accounting for over 80% of assets...

... partly as a result of mergers and acquisitions involving Banco Itaú and Bradesco

Introduction to bancassurance

Around 30% of Bradesco's profits are attributable to its insurance operations

MAPFRE and Zurich have both entered into bancassurance joint ventures in recent years...

... with other insurers having established important strategic partnerships

The bancassurance channel is characterised by relatively 'light touch' regulation in Brazil

Consumer lending market size and growth

Mortgage lending

Residential mortgages in Brazil grew at a nominal compound annual rate of 45.8% between 2008 and 2012

Non-mortgage lending

The value of total non-mortgage consumer lending balances is more than twice that of mortgage balances

Credit and other pay later cards

Card issuers owned by or working closely with retail brands are highly influential in Brazil

Rising default rates have been a problem for credit card issuers in recent years

Creditor insurance provision rates, operating models and partnerships

Creditor insurance linked to mortgages

There are few mortgage lenders in Brazil but most of these sell related creditor insurance

Bradesco is the leading provider by weighted share of partnerships…

Aliança do Brasil was configured as a joint venture by Banco do Brasil and MAPFRE in 2010

CNP's Caixa Seguradora joint venture directly serves around 4.8 million clients in Brazil

Non-captive providers active in this arena include Allianz, HDI, SulAmérica and Tokio Marine

Creditor insurance linked to consumer finance

Two thirds of entities offering consumer finance have a scheme in place for loan payment protection cover

Bradesco Seguros possesses both captive and non-captive partnerships

Cardif has accumulated the highest outright number of distribution partnerships in this sphere

At least 20 separate underwriters vie for partnerships with lending institutions for this type of cover...

... although 25 lending institutions have no apparent scheme for in place for this type of creditor insurance

Creditor insurance linked to credit cards

Over 20 schemes for card-related creditor insurance are up and running in Brazil

Zurich and Porto Seguro benefit from partnerships with large retail sector card distributors

Creditor insurance risk coverage

There is apparent room for provision rates for temporary incapacity and unemployment to develop further

Performance of key bancassurance underwriters

According to the official data source, Caixa Seguradora is the market leader in creditor insurance...

... having held this position consistently between 2007 and 2011

Creditor insurance market size, growth and forecast

The market for all forms of creditor insurance is growing rapidly in Brazil...

... with demand for mortgage-related policies rising at the greatest speed

Official statistics exist to help quantify the market for creditor insurance in Brazil

5.0 CHILE

Banks and other lending institutions covered

Economic background

Chile benefits from a diverse and export-driven economy…

… that has displayed strong GDP growth in recent years

Chile was well prepared for the onset of the financial crisis

The financial sector accounts for around 16% of GDP

In the Index of Economic Freedom, Chile's is ranked seventh in the world

Introduction to the banking sector

In terms of number of retail customers, state-owned BancoEstado leads the market…

… albeit Banco Santander is ranked first by banking assets

Co-operative banks play a prominent role in the Chilean banking system…

… which also features a number of credit unions and retail sector card issuers

Several banking institutions are owned wholly or partly by foreign entities

Some merger and acquisition activity has taken place in recent years

Introduction to bancassurance

Bancassurance in Chile is well-developed, in particular for non-life insurance products…

… with captives and joint ventures among the largest underwriters in terms of premiums

Banking organisations are not allowed to sell investment-related life insurance products

Consumer lending market size and growth

Mortgage lending

Chile's residential mortgage balances grew at a nominal annual rate of 9.2% between 2008 and 2012

Non-mortgage lending

The compound annual growth rate for non-mortgage balances is slightly lower than that for mortgages

Credit and other pay later cards

Card issuers owned by retail groups are dominant in the market for credit cards in Chile

Creditor insurance provision rates, operating models and partnerships

Creditor insurance linked to mortgages

Provision of creditor insurance by mortgage lending institutions is universal

By weighted share of partnerships, Cardif is the most prominent competitor...

Zurich and Santander entered into a 25-year strategic distribution arrangement in 2011

… followed by four underwriters affiliated with Chile's largest banks

Creditor insurance linked to consumer finance

Loan payment protection insurance is offered by most lending institutions in Chile...

... with MetLife identifiable as the leading insurer in terms of weighted partnership shares

MAPFRE has concluded a significant new distribution agreement with Genworth Financial

Banchile Seguros benefits from its various partnerships in this field with credit unions

Creditor insurance linked to credit cards

Schemes for credit card payment protection insurance are widespread in Chile

Cardif holds ties with six banking organisations for this form of cover...

... with MetLife also very prominent in this sphere

Creditor insurance risk coverage

The majority of creditor insurance policies incorporate comprehensive coverage

Performance of key bancassurance underwriters

Subsidiaries of banks accounted for over 62% of the creditor life insurance market in 2011…

… with Zurich Santander Seguros leading the market

Cardif and MetLife are the most prominent non-captive underwriters for creditor insurance

Creditor insurance market size, growth and forecast

The total creditor insurance market is likely to be worth more than USD 700 million in 2012...

... with increased mortgage lending expected to boost premiums further up to 2016

Official statistics exist to help quantify the market for creditor insurance in Chile

6.0 COLOMBIA

Banks and other lending institutions covered

Economic background

Colombia's economy has performed well in recent years...

… having benefited from a strong free-market orientation

In the Ease of Doing Business ranking, Colombia's economy is ranked 45th in the world

Introduction to the banking sector

In terms of its number of retail customers, Bancolombia leads the market…

… although Banco Davivienda is the largest player in the consumer lending sector...

… and Grupo Aval controls four separate banking brands

Colombia's mortgage market remains relatively small

Four significant transactions reshaped the banking market in 2012

Introduction to bancassurance

Bancassurance is estimated to account for around 15% of total life insurance premiums

Banks cannot directly own insurance companies but can belong to the same financial group

Many insurance companies adhere to a multi-channel distribution strategy

As in some other countries in Latin America, banks are not permitted to sell investment-related life policies

Consumer lending market size and growth

Mortgage lending

Residential mortgage balances grew at a nominal compound annual rate of 18.0% between 2008 and 2012

Non-mortgage lending

Progress in non-mortgage consumer lending has been slightly less rapid

Credit and other pay later cards

Credit card penetration in Colombia remains low by the standards of some Latin American countries

Creditor insurance provision rates, operating models and partnerships

Creditor insurance linked to mortgages

Provision of creditor insurance by mortgage lending institutions is universal

By weighted share of partnerships, Alfa is the most prominent competitor...

... while both Cardif and Sura benefit from their partnerships with Colombia's largest bank

Creditor insurance linked to consumer finance

Loan payment protection insurance is offered by almost all eligible lenders in Colombia

Cardif holds at least eight separate distribution relationships...

... in a sector in which at least a dozen insurance providers are active

Creditor insurance linked to credit cards

Schemes for credit card payment protection insurance are also widespread in Colombia…

… with familiar underwriters leading the market on a weighted basis

Creditor insurance risk coverage

Availability of cover for temporary incapacity is more widespread than that for unemployment

Creditor insurance market size, growth and forecast

Creditor insurance related to consumer finance accounts for the lion's share of the Colombian market

... and this is expected to remain the case up to 2016

7.0 MEXICO

Banks and other lending institutions covered

Economic background

Mexico is the second-largest economy in Latin America…

… and has enjoyed reasonably strong economic performance in recent years

The service sector accounts for over 70% of GDP

In spite of economic progress, the country faces several major social problems

In the World Bank's Ease of Doing Business Index, Mexico is ranked 53th in the world

Introduction to the banking sector

Banco Azteca leads the market in terms of its outright number of retail customers...

... but not when measured by its share of banking assets

The banking sector is dominated by several foreign-owned entities

A number of banks targeting lower-income customers are affiliated to retailing groups

Due to the influence of INFONAVIT, banks account for a limited share of mortgage lending

Introduction to bancassurance

Mexican bancassurance is well-developed, especially for life insurance products

Subsidiaries of the country's large financial groups are prominent in the bancassurance market…

… particularly in the life insurance segment

Consumer lending market size and growth

Mortgage lending

Mexico's residential mortgage balances grew at a nominal annual rate of 8.0% between 2008 and 2012

Non-mortgage lending

Non-mortgage balances were hit by the financial crisis in 2009 but have since recovered

Credit and other pay later cards

The number of credit cards in circulation declined slightly between 2008 and 2012

Creditor insurance provision rates, operating models and partnerships

Creditor insurance linked to mortgages

Almost all mortgage lenders offer related creditor insurance

Captive and joint venture underwriters dominate the market in terms of weighted partnership shares...

Zurich and Santander entered into a 25-year strategic distribution arrangement in 2011

Genworth Financial identifiable as the leading non-captive insurer by this measure

Mexico's largest mortgage lender offers an automatic debt guarantee scheme

MAPFRE has concluded a significant new distribution agreement with Genworth Financial

Creditor insurance linked to consumer finance

Loan payment protection insurance is offered by most relevant lending organisations in Mexico…

… and Seguros Azteca is ranked first by weighted share of partnerships

Six banking organisations have no apparent scheme for in place for this type of creditor insurance

Creditor insurance linked to credit cards

Schemes for credit card payment protection insurance are slightly less common in Mexico...

... albeit they are still fairly numerous when compared to some other countries

Creditor insurance risk coverage

Mexico's creditor insurance market features both basic and fully-fledged payment protection formulae

Creditor insurance market size, growth and forecast

The total market is likely to be worth more than USD 500 million in 2012...

… with decent growth in evidence since 2008

... and with a rapidly-growing middle class expected to boost premiums further up to 2016

8.0 PERU

Banks and other lending institutions covered

Economic background

Since the start of the new millennium, Peru's economy has developed in a positive fashion...

… with GDP growth averaging 6.5% between 2002 and 2011...

... albeit economic success is not shared equally across the country

In the Ease of Doing Business ranking, Peru's economy is ranked 43rd in the world

Introduction to the banking sector

In the consumer lending market, Banco de Crédito and BBVA Banco Continental are the leaders...

... although Banco Falabella has issued the most credit cards

Savings banks constitute a prominent feature of the Peruvian market…

... as do credit unions, albeit most of the 160 in existence are very small

Strong growth prospects in microfinance have triggered a number of acquisitions

Introduction to bancassurance

The official statistics value creditor insurance at close to 14% of the total life insurance market

Peru's insurance market is comparatively concentrated...

... with several insurance companies belonging to the same financial groups as banks...

… albeit all of these utilise a multi-channel distribution strategy

Credit unions perform particularly well in the distribution of microinsurance products

Consumer lending market size and growth

Mortgage lending

Residential mortgage balances grew at a real compound annual rate of 15.5% between 2008 and 2012...

Non-mortgage lending

... putting them ahead of the equivalent figure for non-mortgage consumer lending balances

Credit and other pay later cards

Credit cards per capita edged up only slightly between 2008 and 2012

Creditor insurance provision rates, operating models and partnerships

Creditor insurance linked to mortgages

All mortgage lending institutions have an arrangement for selling related creditor insurance

By weighted share of partnerships, Pacífico is the most prominent competitor...

... although with nine deals, Rimac has established more distribution partnerships in this area

MAPFRE and La Positiva mainly work with credit unions and savings banks

Creditor insurance linked to consumer finance

Loan payment protection insurance is also offered by all eligible lenders in Peru...

... with the leading two providers identical to those for mortgage-related creditor insurance

MAPFRE claims a total of 14 distribution partnerships in this sphere

Cardif benefits most from its partnership with Banco Falabella

Creditor insurance linked to credit cards

Schemes for credit card payment protection insurance are also widespread in Peru...

... with familiar providers prominent in the analysis of weighted share of partnerships

Creditor insurance risk coverage

Some policies include cover for temporary incapacity but unemployment insurance is rarely present

Performance of key bancassurance underwriters

Captive underwriters accounted for two thirds of the creditor life insurance market in 2012…

… with Pacífico holding a market share of almost 30% by itself

La Positiva and MAPFRE are the most prominent non-captive underwriters for creditor insurance

Creditor insurance market size, growth and forecast

Growth in the creditor insurance market is likely to be fairly robust between 2012 and 2016...

... as a consequence of a continuing increase in the consumer lending market

Official statistics exist to help quantify the market for creditor insurance in Peru...

... although they do not capture its likely total value

LIST OF GRAPHICS / TABLES

TABLE OF CONTENTS

0.0 EXECUTIVE SUMMARY

Brazil accounts for close to two thirds of all creditor insurance premiums written across the six Latin American countries

Mortgage-related creditor insurance policies are expected to outgrow loan and credit card payment protection policies

The value of cover for temporary incapacity and unemployment is likely to become more important within the regional market total

Summary table: gross written premiums for total creditor insurance in Latin America, 2008, 2012 and 2016 (forecast) (data)

When viewed as a weighted aggregate across all six countries, the leading eight competitors in creditor insurance are composed of five international insurance groups and three Brazilian banks

1.0 INTRODUCTION

Banks and other lending institutions in Latin America contacted by Finaccord, segmented by country and type

2.0 LATIN AMERICAN OVERVIEW

Total consumer lending balances outstanding in Latin America, segmented by country, 2008 to 2012

Total consumer lending balances outstanding in Latin America, segmented by country, 2008 to 2012 (data)

Residential mortgage balances outstanding in Latin America, segmented by country, 2008 to 2012

Residential mortgage balances outstanding in Latin America, segmented by country, 2008 to 2012 (data)

Consumer non-mortgage balances outstanding in Latin America, segmented by country, 2008 to 2012

Consumer non-mortgage balances outstanding in Latin America, segmented by country, 2008 to 2012 (data)

Relationship between total consumer lending balances as a % of GDP and purchasing power parity in Latin America, segmented by country, 2012

Relationship between mortgage lending balances as a % of GDP and purchasing power parity in Latin America, segmented by country, 2012

Relationship between consumer non-mortgage lending balances as a % of GDP and purchasing power parity in Latin America, segmented by country, 2012

Consumer lending balances and purchasing power parity in Latin America, segmented by country, 2012

Total consumer lending balances outstanding per capita in Latin America, segmented by country, 2008 to 2012

Total consumer lending balances outstanding per capita in Latin America, segmented by country, 2008 to 2012 (data)

Residential mortgage lending balances outstanding per capita in Latin America, segmented by country, 2008 to 2012

Residential mortgage lending balances outstanding per capita in Latin America, segmented by country, 2008 to 2012 (data)

Consumer non-mortgage lending balances outstanding per capita in Latin America, segmented by country, 2008 to 2012

Consumer non-mortgage lending balances outstanding per capita in Latin America, segmented by country, 2008 to 2012 (data)

Consumer non-mortgage balances outstanding as % of total consumer lending balances outstanding in Latin America, segmented by country, 2008 to 2012

Consumer non-mortgage balances outstanding as % of total consumer lending balances outstanding in Latin America, segmented by country, 2008 to 2012 (data)

Total number of credit and other pay later cards issued in Latin America, segmented by country, 2008 to 2012

Total number of credit and other pay later cards issued in Latin America, segmented by country, 2008 to 2012 (data)

Total number of credit and other pay later cards issued in Latin America and their growth segmented by country, 2008 to 2012

Total number of credit and other pay later cards issued per capita in Latin America, segmented by country, 2008 to 2012

Total number of credit and other pay later cards issued per capita in Latin America, segmented by country, 2008 to 2012 (data)

Provision rates for creditor insurance linked to mortgages in Latin America, segmented by country, 2013

Operating models (unweighted) used for creditor insurance linked to mortgages in Latin America, segmented by country, 2013

Operating models (unweighted) used for creditor insurance linked to mortgages in Latin America, segmented by country, 2013 (data)

Operating models (weighted) used for creditor insurance linked to mortgages in Latin America, segmented by country, 2013

Operating models (weighted) used for creditor insurance linked to mortgages in Latin America, segmented by country, 2013 (data)

Provision rates for cover for temporary incapacity and unemployment within creditor insurance linked to mortgages in Latin America, segmented by country, 2012

Weighted group share of bancassurance partnerships for creditor insurance linked to mortgages, re-weighted by country market size, in Latin America, 2012

Provision rates for creditor insurance linked to consumer finance in Latin America, segmented by country, 2013

Operating models (unweighted) used for creditor insurance linked to consumer finance in Latin America, segmented by country, 2013

Operating models (unweighted) used for creditor insurance linked to consumer finance in Latin America, segmented by country, 2013 (data)

Operating models (weighted) used for creditor insurance linked to consumer finance in Latin America, segmented by country, 2013

Operating models (weighted) used for creditor insurance linked to consumer finance in Latin America, segmented by country, 2013 (data)

Provision rates for cover for temporary incapacity and unemployment within creditor insurance linked to consumer finance in Latin America, segmented by country, 2013

Weighted group share of bancassurance partnerships for creditor insurance linked to consumer finance, re-weighted by country market size, in Latin America, 2013

Provision rates for creditor insurance linked to credit cards in Latin America, segmented by country, 2013

Operating models (unweighted) used for creditor insurance linked to credit cards in Latin America, segmented by country, 2013

Operating models (unweighted) used for creditor insurance linked to credit cards in Latin America, segmented by country, 2013 (data)

Operating models (weighted) used for creditor insurance linked to credit cards in Latin America, segmented by country, 2013

Operating models (weighted) used for creditor insurance linked to credit cards in Latin America, segmented by country, 2013 (data)

Provision rates for cover for temporary incapacity and unemployment within creditor insurance linked to credit cards in Latin America, segmented by country, 2013

Weighted group share of bancassurance partnerships for creditor insurance linked to credit cards, re-weighted by country market size, in Latin America, 2013

3.0 ARGENTINA

Key economic indicators for Argentina, 2012

Residential mortgage lending balances outstanding in Argentina (absolute and per capita), 2008 to 2012

Consumer non-mortgage lending balances outstanding in Argentina (absolute and per capita), 2008 to 2012

Credit and other pay later cards issued and per capita in Argentina, 2008 to 2012

Key data points for the consumer lending market in Argentina, 2008 to 2012

Provision of creditor insurance linked to mortgages in Argentina, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to consumer finance in Argentina, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to credit cards in Argentina, 2012: provision rate, operating models and weighted provider share of partnerships

Risk coverage of creditor insurance policies in Argentina, segmented by type of underlying product, 2012

Creditor insurance gross written premiums in Argentina, segmented by policy type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Argentina, segmented by cover type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Argentina, segmented by policy and cover type, 2008, 2012 and 2016 (data)

4.0 BRAZIL

Key economic indicators for Brazil, 2012

Residential mortgage lending balances outstanding in Brazil (absolute and per capita), 2008 to 2012

Consumer non-mortgage lending balances outstanding in Brazil (absolute and per capita), 2008 to 2012

Credit and other pay later cards issued and per capita in Brazil, 2008 to 2012

Key data points for the consumer lending market in Brazil, 2008 to 2012

Provision of creditor insurance linked to mortgages in Brazil, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to consumer finance in Brazil, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to credit cards in Brazil, 2012: provision rate, operating models and weighted provider share of partnerships

Risk coverage of creditor insurance policies in Brazil, segmented by type of underlying product, 2012

Market share in creditor insurance of key bancassurance underwriters in Brazil, 2007 to 2011

Creditor insurance gross written premiums in Brazil, segmented by policy type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Brazil, segmented by cover type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Brazil, segmented by policy and cover type, 2008, 2012 and 2016 (data)

5.0 CHILE

Key economic indicators for Chile, 2012

Residential mortgage lending balances outstanding in Chile (absolute and per capita), 2008 to 2012

Consumer non-mortgage lending balances outstanding in Chile (absolute and per capita), 2008 to 2012

Credit and other pay later cards issued and per capita in Chile, 2008 to 2012

Key data points for the consumer lending market in Chile, 2008 to 2012

Provision of creditor insurance linked to mortgages in Chile, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to consumer finance in Chile, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to credit cards in Chile, 2012: provision rate, operating models and weighted provider share of partnerships

Risk coverage of creditor insurance policies in Chile, segmented by type of underlying product, 2012

Market share in creditor insurance of key bancassurance and other underwriters in Chile, 2007 to 2011

Creditor insurance gross written premiums in Chile, segmented by policy type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Chile, segmented by cover type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Chile, segmented by policy and cover type, 2008, 2012 and 2016 (data)

6.0 COLOMBIA

Key economic indicators for Colombia, 2012

Residential mortgage lending balances outstanding in Colombia (absolute and per capita), 2008 to 2012

Consumer non-mortgage lending balances outstanding in Colombia (absolute and per capita), 2008 to 2012

Credit and other pay later cards issued and per capita in Colombia, 2008 to 2012

Key data points for the consumer lending market in Colombia, 2008 to 2012

Provision of creditor insurance linked to mortgages in Colombia, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to consumer finance in Colombia, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to credit cards in Colombia, 2012: provision rate, operating models and weighted provider share of partnerships

Risk coverage of creditor insurance policies in Colombia, segmented by type of underlying product, 2012

Creditor insurance gross written premiums in Colombia, segmented by policy type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Colombia, segmented by cover type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Colombia, segmented by policy and cover type, 2008, 2012 and 2016 (data)

7.0 MEXICO

Residential mortgage lending balances outstanding in Mexico (absolute and per capita), 2008 to 2012

Consumer non-mortgage lending balances outstanding in Mexico (absolute and per capita), 2008 to 2012

Credit and other pay later cards issued and per capita in Mexico, 2008 to 2012

Key data points for the consumer lending market in Mexico, 2008 to 2012

Provision of creditor insurance linked to mortgages in Mexico, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to consumer finance in Mexico, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to credit cards in Mexico, 2012: provision rate, operating models and weighted provider share of partnerships

Risk coverage of creditor insurance policies in Mexico, segmented by type of underlying product, 2012

Creditor insurance gross written premiums in Mexico, segmented by policy type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Mexico, segmented by cover type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Mexico, segmented by policy and cover type, 2008, 2012 and 2016 (data)

8.0 PERU

Key economic indicators for Peru, 2012

Residential mortgage lending balances outstanding in Peru (absolute and per capita), 2008 to 2012

Consumer non-mortgage lending balances outstanding in Peru (absolute and per capita), 2008 to 2012

Credit and other pay later cards issued and per capita in Peru, 2008 to 2012

Key data points for the consumer lending market in Peru, 2008 to 2012

Provision of creditor insurance linked to mortgages in Peru, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to consumer finance in Peru, 2012: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to credit cards in Peru, 2012: provision rate, operating models and weighted provider share of partnerships

Risk coverage of creditor insurance policies in Peru, segmented by type of underlying product, 2012

Market share in creditor life insurance of key bancassurance and other underwriters in Peru, 2008 to 2012

Creditor insurance gross written premiums in Peru, segmented by policy type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Peru, segmented by cover type, 2008, 2012 and 2016

Creditor insurance gross written premiums in Peru, segmented by policy and cover type, 2008, 2012 and 2016 (data)
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