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Latin American Insurance Industry - Global Strategic Business Report

  • ID: 604649
  • Report
  • Region: Global, Latin America
  • 182 pages
  • Global Industry Analysts, Inc
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The Latin American Insurance Industry Report provides insightful analysis, market overview, industry structure and outlook of life insurance, non-life insurance and reinsurance industries in Argentina, Brazil, Chile, Mexico and other emerging insurance markets of the region. Richly laden with quantitative analysis, the report also provides the reader with an exhaustive statistical preface to the industry in the region. Get to know about various types of life and non-life insurance products in the regional markets, backed by statistical inference of key players in these markets. The closely summarized market report is designed to offer a broad, macro level picture of the trends, challenges, market structure/basics, recent mergers & acquisitions, and strategic corporate developments witnessed by the industry in Latin America. The report also peeps into the recent past/ historical perspective of the region’s insurance markets and corporate developments within the industry. A regional level discussion also looks into the leading companies’ footing in these markets along with their annual written premiums and/ or market shares. The report discusses several key and niche players within the region.

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LATIN AMERICAN INSURANCE INDUSTRY

A STRATEGIC BUSINESS REPORT

1. Market Overview LA-1
Table 1: Latin American Recent Past, Current & Future Analysis
for Insurance Industry by Region - Argentina, Brazil, Chile,
Mexico and Rest of Latin America Markets Independently Analyzed
with Annual Premium Income in US$ Billion for the Years 2005
through 2010 (includes corresponding Graph/Chart) LA-2

Table 2: Latin American 6-Year Perspective for Insurance
Industry by Region - Percentage Breakdown of Premium Income for
Argentina, Brazil, Chile, Mexico and Rest of Latin America
Markets for 2005, 2008, and 2010 (includes corresponding
Graph/Chart) LA-2

Table 3: Latin American Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2005 through 2010 (includes corresponding
Graph/Chart) LA-3

Table 4: Latin American 6-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2005, 2008, and 2010
(includes corresponding Graph/Chart) LA-3

Table 5: Latin American Recent Past, Current & Future Analysis
for Life Insurance Industry by Region - Argentina, Brazil,
Chile, Mexico and Rest of Latin America Markets Independently
Analyzed with Annual Premium Income in US$ Billion for the
Years 2005 through 2010 (includes corresponding Graph/Chart) LA-4

Table 6: Latin American Recent Past, Current & Future Analysis
for Non-Life Insurance Industry by Region - Argentina, Brazil,
Chile, Mexico and Rest of Latin America Markets Independently
Analyzed with Annual Premium Income in US$ Billion for the
Years 2005 through 2010 (includes corresponding Graph/Chart) LA-4

Table 7: Latin American 6-Year Perspective for Life Insurance
Industry by Region - Percentage Breakdown of Premium Income for
Argentina, Brazil, Chile, Mexico and Rest of Latin America
Markets for 2005, 2008, and 2010 (includes corresponding
Graph/Chart) LA-5

Table 8: Latin American 6-Year Perspective for Non-Life
Insurance Industry by Region - Percentage Breakdown of Premium
Income for Argentina, Brazil, Chile, Mexico and Rest of Latin
America Markets for 2005, 2008, and 2010 (includes
corresponding Graph/Chart) LA-5

Table 9: Insurance Industry in Latin America (2006): Total
Premiums Per Capita in US$ Ranked by Country - Bahamas,
Trinidad and Tobago, Chile, Jamaica and Venezuela LA-6

Table 10: Insurance Industry in Latin America (2006): Total
Premiums as a Percentage of GDP by Leading Country - Bahamas,
Trinidad and Tobago, Jamaica, Chile and Brazil (includes
corresponding Graph/Chart) LA-6
Consolidation and Globalization Have a Positive Impact LA-7
Potential Growth Markets in the Region LA-7
Private Pension and Life Insurance - In the Growth Mode LA-7
Reinsurance Picks Up Momentum LA-7
The Foreign Dominion LA-7
The Changing Face of Reinsurance LA-8
Promotion of Intra-Regional Trading LA-8
Infrastructure Development Attracts Foreign Investment LA-8
Outlook LA-9

2. A Recent Past Perspective LA-10
Table 11: Insurance Industry in Latin America (2000): Annual
Insurance Premium in US$ Billion by Country for Brazil,
Mexico, Argentina, Chile, Colombia, and Others (includes
corresponding Graph/Chart) LA-10

Table 12: Insurance Industry in Latin America (2000): Major
Countries by Written Premium in US$ Billion (includes
corresponding Graph/Chart) LA-10

Table 13: Insurance Industry in Latin America (2000): Major
Countries for Life Insurance by Written Premium in US$ Billion LA-11

Table 14: Insurance Industry in Latin America (2000): Major
Countries for Non-Life Insurance by Written Premium in US$
Billion (includes corresponding Graph/Chart) LA-11

Table 15: Insurance Industry in Latin America (1999 & 2000):
Leading Insurers Ranked by Net Written Premium in US$ Million
(includes corresponding Graph/Chart) LA-12

ARGENTINEAN INSURANCE INDUSTRY

1. Market Overview LA-14
Sector Representation & Market Size LA-14
Table 16: Argentine Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2005 through 2010 (includes
corresponding Graph/Chart) LA-14

Table 17: Argentine 5-Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Markets for 2006, 2008, and 2010 (includes
corresponding Graph/Chart) LA-15

Table 18: Argentinean Insurance Industry (2006): Per Capita
Premium in US$, and Penetration of Insurance by Category -
Life and Non-Life LA-15
Facts & Stats LA-15
Geographic Characteristics LA-15

2. Insurance Industry Structure LA-17
Regulatory Overview LA-17
Taxation LA-17
Premium Payment LA-18
Internationalization of the Market LA-18
Liberalization of Argentina LA-18
Foreign Participation - Positive for the Market LA-18
Insurance in the Country’s GDP LA-18
Reinsurance in Argentina LA-19
Relevance of Insurance-Related Education in Argentina. LA-19
Insurance Industry - Future Prospects LA-19

3. Life Insurance Sector LA-20
Table 19: Argentinean Life Insurance Market by Segment (In %)
(includes corresponding Graph/Chart) LA-20
Collapse and Reconstruction of the Life Business LA-20
Group Life: Victor of Difficult Times LA-20
Pensions System Benefits from Privatization LA-21
Private Funds Help Raise Memberships LA-21
Market Leaders LA-21
Table 20: Argentinean Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Origenes Retiro, Consolidar Retiro, Caja Seguros Vida, HSBC
NY Life Retiro, Siembra Retiro, Zurich Life, Nacion Retiro,
HSBC NY Life Vida, Siembra Vida, and Internacional Vida
(includes corresponding Graph/Chart) LA-22

Table 21: Top-Five Players in the Life Insurance Industry of
Argentina (2002) - Gross Written Premium in US$ Million by
Companies for Caja Seguros Vida, HSBC- NYL Retiro, HSBC-NYL
Vida, ALICO, and Internacional Vida (includes corresponding
Graph/Chart) LA-22

4. Non-Life Insurance Sector LA-23
Table 22: Argentinean General & Property Insurance Market
(2006): Percentage Breakdown of Premiums by Segments -
Vehicle, Fire, Transport, Theft & Similar Threats, Hale, Work
Related Risk, and Others (includes corresponding Graph/Chart) LA-23

Table 23: Argentinean Personal Insurance Market (2006):
Percentage Breakdown of Premiums by Category - Life, Accident,
Supplemental Retirement, Pension and Work Compensation
(includes corresponding Graph/Chart) LA-24
Compulsory Insurance LA-24
Brokers & Agents LA-24
Various Insurance Covers LA-25
Workers Compensation and Employers’ Liability LA-25
Key Benefits of Workers’ Compensation Law LA-25
Workers’ Compensation - On Road to Profitability LA-25
Property Damage LA-26
Civil Liability LA-26
Engineering/Construction LA-26
Automobile LA-27
Special Classes LA-27
Market Leaders LA-27
Table 24: Argentinean Non-Life Insurance Industry (2003):
Gross Written Premium in US$ Million by Leading Companies
for HSBC Buenos Aires, Federacion Patronal, Caja Seguros,
Meridional, Mapfre Argentina, Provincia, Zurich Argentina,
San Cristobal, Segunda C.S.L., and Sancor (includes
corresponding Graph/Chart) LA-27

Table 25: Top-Five Players in the Non-Life Insurance
Industry of Argentina (2002) - Gross Written Premiums in US$
Million for Caja Seguros, Provincia, Federacion Patronal,
HSBC-Buenos Aires, and Meridional (includes corresponding
Graph/Chart) LA-28

5. A Recent Past Perspective of Argentinean Insurance Industry LA-29
Table 26: Argentinean Insurance Industry (1999 & 2000): Leading
Insurers’ Gross Premiums Written in US$ Million and Market
Share in % (includes corresponding Graph/Chart) LA-29
A Backgrounder LA-29
Traditional Insurance Products Available During Mid-90s LA-30
Provisional Life: Non-Traditional Insurance Product LA-30
A Review of Major Amendments to Law LA-30
The Workers’ Compensation Law of 1995 LA-30
Other Developments LA-31

6. Recent Industry Activity LA-32
AR Growth to Acquire Stake in Probenefit LA-32
ING to Acquire Origenes AFJP and Origenes Seguros de Retiro LA-32

7. Strategic Corporate Development in Recent Past LA-33
Grupo Financiero Galicia Acquires Stake in Sudamericana Holding LA-33

BRAZILIAN INSURANCE INDUSTRY

1. Industry Overview LA-34
Table 27: Brazilian Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2005 through 2010 LA-34

Table 28: Brazilian 5-Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Markets for 2006, 2008, and 2010 LA-35

Table 29: Brazilian Insurance Industry (2006): Per Capita
Premium in US$, and Penetration of Insurance by Category -
Life and Non-Life LA-35
The Brazilian Insurance Market Holds High Growth Potential LA-35
Brazilian Insurance Industry - Current Trends LA-36
Brazil Opens Reinsurance Sector LA-36
Brazil to Liberalize The Country’s Insurance Sector LA-36
Brazil’s Regulatory Framework LA-37
Scenario in Brazilian Markets for Prospective Insurers LA-37
Income and Buying Power of Population LA-38
The ‘Real’ Growth Engine LA-38
Intense M&A Activity Limits Players LA-38
Regulatory Environment LA-38
Functions of IRB LA-39
Rules Governing Reinsurance Retrocessions LA-39
Monopoly Comes to an End LA-39
Better Scope for Expansion in Reinsurance LA-39
How Much a Tariff Market? LA-40
Emerging Avenues LA-40
Transportation Insurance Gaining Momentum LA-40

2. Key Insurance Segments LA-41
Table 30: Brazilian Insurance Industry (2006): Percentage
Breakdown of Net Written Premium by Segment - Auto, Group
Life/Personal Accident, Property, Marine, and Others
(includes corresponding Graph/Chart) LA-41

Table 31: Brazilian Insurance Industry (2004): Leading
Sectors’ Market Share by Type for Automobile, Life, Health,
Fire, Personal Accidents, Property, Residential, Risks, and
Other (includes corresponding Graph/Chart) LA-41
General Insurance LA-41
Strong Bias for Non-Life Insurance LA-41
A Wide Array of Perils in Property Insurance LA-42
DPVAT - Compulsory Auto Insurance LA-42
Life and Health Insurance - Growth Avenues of the Future LA-42
Pension LA-43
Capitalization LA-43

3. Market Leaders LA-44
Table 32: Leading Players in Brazilian Insurance Industry
(2005): Percentage Market Share by Gross Written Premiums of
Companies -Alianca, AGF Brasil, Bradesco Auto/Re Companhia de
Seguros, Caixa, Itau Seguros, Mapfre Vera Cruz, Porto Seguro,
Real SA, Sul America, Unibanco AIG Seguros, and Others
(includes corresponding Graph/Chart) LA-44

Table 33: Brazilian Insurance Industry: Leading Players by
Gross Written Premiums (GWP) in € Millions for 2004 (1H)
(includes corresponding Graph/Chart) LA-45
Life Insurance Sector LA-45
Table 34: Brazilian Life Insurance Market (2006 & 2007):
Percentage Market Shares of Leading Companies by Premiums -
Bradesco Vida e Previdência, Itaú Vida e Previdência, Caixa
Vida e Previdência, Companhia de Seguros Aliança do Brasil,
Brasilprev Seguros e Previdência, and Others (includes
corresponding Graph/Chart) LA-46

Table 35: Brazilian Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for
Bradesco Vida, Itau Vida e Previdencia, Santander, Caixa
Vida, Brasilprev, Alianca do Brasil, Real Vida, COSESP,
Unibanco AIG, and Vera Cruz Vida (includes corresponding
Graph/Chart) LA-46

Table 36: Top-Five Players in the Brazilian Life Insurance
Market (2002) - Gross Written Premium in US$ Million for
Bradesco Vida, Itau Vida Previdencia, Alianca do Brasil,
COSESP, and Unibanco AIG Seguros (includes corresponding
Graph/Chart) LA-47
Non-Life / General Insurance Sector LA-47
Table 37: Brazilian General Insurance Market (2006 & 2007):
Percentage Market Shares of Leading Companies by Premiums -
Porto Seguro - Companhia de Seguros Gerais, Unibanco AIG
Seguros, Bradesco Auto/Re Companhia de Seguros, Itaú Seguros,
SulAmerica Companhia Nacional de Seguros, Mapfre Vera Cruz
Seguradora, Tokio Marine Seguradora, and Others (includes
corresponding Graph/Chart) LA-47

Table 38: Brazilian Non-Life Insurance Industry (2003):
Gross Written Premium in US$ Million by Leading Companies
for Bradesco, Unibanco AIG, Porto Seguro CIA, Itau, Sul
Amercia CIA Nacional, Caixa, Real, Vera Cruz, Maritima, and
Brasil Veiculos (includes corresponding Graph/Chart) LA-48

4. Insurance Industry 2000-2001: A Recent Past Perspective LA-49
Table 39: Brazilian Insurance Industry (2000): Premium Revenues
by Sector in R$ Million (includes corresponding Graph/Chart) LA-49
Table 40: Brazilian Insurance Industry (1999 & 2000): Leading
Insurers by Gross Premiums Written in US$ Million (includes
corresponding Graph/Chart) LA-50
Prevailing Conditions During the Dawn of the New Millennium LA-50
Robust Economy Boosts Industry LA-50
General Insurance Market Structure LA-51
Property and Casualty Sector LA-51
Major Perils LA-51
Life and Health Insurance - Growth Avenues of the Future LA-51
Agricultural Insurance Expands LA-51
Reinsurance - The End of Monopoly LA-52
Banks and Foreign Capital - The Lifeline of Brazilian
Insurance Industry LA-52
Table 41: Market Share of Major Multinationals in Brazil
During 2000 (includes corresponding Graph/Chart) LA-52
Europeans Enter the Fray LA-52

5. Recent Industry Activity LA-53
HSBC Brazil to Divest Property and Casualty Insurance Business LA-53
Nationwide Maritime to Divest Life and Pension Operations LA-53

6. Strategic Corporate Development in Recent Past LA-54
CNP Assurances Acquires Stake in Sasse LA-54

7. Focus on Select Brazilian Players LA-55
Bradesco Vida E Previdência LA-55
Grupo Bradesco de Seguros LA-55
Unibanco AIG LA-55

CHILEAN INSURANCE INDUSTRY

1. Chile at a Glance - Key Facts and Characteristics LA-56

2. Insurance Industry Highlights LA-57

3. Market Overview LA-58
A Recent Past Perspective LA-58
Current Scenario LA-58
Table 42: Chilean Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2005 through 2010 LA-59

Table 43: Chilean 6-Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Markets for 2005, 2007, and 2010 LA-59
Insurance Market Experiences Concentration LA-59
A Well Developed Market LA-60
BiceCorp Amalgamates La Construccion and Bice Vida - A Key
Corporate Development LA-60
Regulatory Overview LA-60
Insurance Legislations LA-60
Key Changes to Legislations LA-60
Regulations for Fronting Policies LA-61
Superintendencia de Valoresy Seguros (SVS) - The Regulatory
Body LA-61
Non-Admitted Insurance LA-61
Compulsory Insurance LA-61
Registration and Operational Rules LA-61
Taxation Structure LA-62
A Study of the Distribution Channels LA-62
Going Direct LA-62
Bancassurance - Playing a Well-Defined Role LA-63
Agencies and Brokerages LA-63
Sales Agents LA-64
Claims Adjusters LA-64

4. Life and Pension Sector LA-65
Individual and Group Life Insurance LA-65
Consumer Lending by Insurers LA-65
Social Security Programs LA-65
AFP Insurance LA-65
Annuities LA-65
Major Players: Life Insurance LA-66
Table 44: Chilean Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for ING,
Consorcio, Metlife, Principal, Chilena, La Construccion,
Vida, Penta, Interamericana, and Euroamerica (includes
corresponding Graph/Chart) LA-66

Table 45: Top-Five Players in the Life Insurance Industry of
Chile (2003) - Gross Written Premium in US$ Million for
Metlife, Consorcio, Principal, ING, and La Construccion
(includes corresponding Graph/Chart) LA-67

5. Non-Life Insurance Sector LA-68
Impact of Deregulation LA-68
Major Players LA-68
Table 46: Chilean Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for Cruz
del Sur, Chilena, MAPFRE Seguros, Interamericana, Royal &
SunAlliance, AGF Allianz, Americas, Magallanes, BCI, and ING
(includes corresponding Graph/Chart) LA-68

6. Reinsurance in Chile LA-69
Major Trends in the Sector LA-69
Requirements for a Reinsurer LA-69
Key Reinsurance Types LA-69
Treaty Reinsurance LA-69
Reinsurance Commissions in Chile by Sector LA-70
Catastrophe Reinsurance LA-70
Facultative Reinsurance LA-70
Reinsurance Commissions in Chile by Sector LA-71
Alternative Risk Transfer LA-71

7. A Recent Past Perspective of Non-Life Insurance Sector LA-72
Table 47: Breakdown of Chilean Non-Life Insurance Market by
Category for 2001 (includes corresponding Graph/Chart) LA-72
Key Developments LA-72
Pools and Organizations LA-72
Motor Insurance LA-73
Market Overview LA-73
Voluntary Motor Insurance LA-73
Table 48: Chilean Premium for Voluntary and SOAP Insurance:
1999-2001 (In CLP Billion) (includes corresponding
Graph/Chart) LA-73

Table 49: Percentage Market Share of Motor Insurers in
Chile for 2001 (includes corresponding Graph/Chart) LA-74

Table 50: Leading Brokers of Motor Insurance for 2000 (In
US$ Million) (includes corresponding Graph/Chart) LA-74
SOAP (seguro obligatorio de accidentespersonales) LA-74
Legal Trends LA-74
Perspective of Distribution Channels LA-75
Natural Hazard Cover LA-75
Earthquakes LA-75
Table 51: Major Earthquakes in Chile During the 20th
Century (Damages in US$ Million) LA-75
Floods LA-76
Other Hazards LA-76
Property Coverage LA-76
Table 52: Premium Written for Chilean Property Insurance:
1999-2001 (In US$ Million) (includes corresponding
Graph/Chart) LA-76
Homeowners’ Cover LA-77
An Overview LA-77
Coverage Scope LA-77
Cover for Social Hazards LA-77
Terrorism LA-77
Burglary & Theft LA-78
Riots and Strikes LA-78
Commercial and Industrial Insurance LA-78
An Overview LA-78
Leading Chilean Companies: 2000 LA-78
Fire Cover LA-79
Table 53: Percentage Market Share of Chilean Fire Insurers
by Company for 2001 (includes corresponding Graph/Chart) LA-79

Table 54: Major Brokers for Fire Insurance in Chile for 2001
(In US$ Million) (includes corresponding Graph/Chart) LA-79
Business Interruption LA-80
Package Plans LA-80
Reinsurance Perspective LA-80
Engineering and Construction LA-80
Table 55: Percentage Market Share of Construction &
Engineering Insurers in Chile for 2001 (includes
corresponding Graph/Chart) LA-80
Machinery Breakdown LA-81
Table 56: Percentage Share of Chilean Machinery Breakdown
Insurers for 2001 (includes corresponding Graph/Chart) LA-81

Table 57: Percentage Share of Chilean Electronic Breakdown
Insurers for 2001 (includes corresponding Graph/Chart) LA-82
Workmen’s Compensation and Employers’ Liability LA-82
A Brief Profile LA-82
Coverage Patterns LA-82
Table 58: Chilean Insurance Industry (2001): Percentage
Break-up of Workforce Accident by Industry (includes
corresponding Graph/Chart) LA-83
Third Party Liability LA-83
Products Liability LA-83
General Third Party Liability LA-83
Table 59: Leading General Third Party Insurers in Chile for
2001: Percentage Market Share by Company (includes
corresponding Graph/Chart) LA-84
D & O Liability LA-84
Professional Indemnity LA-85
Pollution and Environmental Liability LA-85
Multinational Insurance LA-85
Agricultural Insurance LA-85
Table 60: Gross Written Premium in CLP Billion for Chilean
Agriculture Sector (2000 & 2001) LA-86
Livestock Insurance LA-86
Surety, Credits & Bonds LA-86
Table 61: Leading Bond Insurers in Chile for 2001:
Percentage Market Share by Company (includes corresponding
Graph/Chart) LA-86

Table 62: Credit Insurers in Chile for 2001: Percentage
Market Share by Company (includes corresponding Graph/Chart) LA-87
Construction and Other Bonds LA-87
Export and Domestic Trade Credit LA-87
Aviation, Marine and Transit LA-87
Market Highlights LA-87
Table 63: Premium Written: 1999-2001 (In CLP Billion)
(includes corresponding Graph/Chart) LA-88
Marine Cargo LA-88
Key Trends LA-88
Table 64: Premium Written: 1999-2001 (In CLP Billion)
(includes corresponding Graph/Chart) LA-88

Table 65: Leading Marine Cargo Insurers in Chile for 2001:
Percentage Market Share by Company (includes corresponding
Graph/Chart) LA-89
Potential Hazards LA-89
Coverage Scope LA-89
Table 66: Leading Marine Cargo Brokers in Chile: 2000 (In
US$ Million) (includes corresponding Graph/Chart) LA-90
Marine Hull LA-90
Table 67: Percentage Share of Marine Hull Insurers in Chile
for 2001 (includes corresponding Graph/Chart) LA-90
An Overview of Risks LA-90
Brokers Dominate Distribution LA-91
Table 68: Leading Brokers for Marine Hull Insurance in
Chile: 2000 (In US$ Million) (includes corresponding
Graph/Chart) LA-91
Oil and Energy Cover LA-91
Natural Gas LA-92
Electricity LA-92
Aviation LA-92
Table 69: Gross Premium Written: 1999-2001 (In CLP Billion)
(includes corresponding Graph/Chart) LA-92
Key Aviation Insurers LA-92
Other Related Sectors LA-93
Other Major Categories LA-93
E-Insurance LA-93
Kidnap and Ransom LA-93
Financial Risks LA-93
Personal Accident LA-93
Coverage Scope LA-93
Table 70: Total Gross Premium Written for 1999-2001 in CLP
Billion (includes corresponding Graph/Chart) LA-94

Table 71: Leading Personal Accident Insurers in Chile for
2001: Market Share by Company (includes corresponding
Graph/Chart) LA-94
Travel Insurance LA-94
Reinsurance LA-95
Table 72: Chilean Reinsurance Market for 1999-2001: Premium
and Claims Ceded in CLP Billion (includes corresponding
Graph/Chart) LA-95

Table 73: Major Reinsurance Brokers in Chile for 2001 by
Percentage of Premiums Ceded (includes corresponding
Graph/Chart) LA-96

8. Recent Industry Activity LA-97
Grupo Security Carries Out Merger of Vida Security and Rentas
Security LA-97
Willis Acquires Chilean MGT LA-97
Seguros Divests its Annuity Business LA-97

9. Strategic Corporate Development in Recent Past LA-98
MetLife Acquires Seguros de Vida Santander and Soince
Reinsurance LA-98

MEXICAN INSURANCE INDUSTRY

1. Market Overview LA-99
Market Infancy Paints Brighter Prospects LA-99
Table 74: Mexican Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2005 through 2010 (includes
corresponding Graph/Chart) LA-99

Table 75: Mexican 6-Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Markets for 2005, 2008, and 2010 (includes
corresponding Graph/Chart) LA-100

Table 76: Mexican Insurance Industry (2006): Per Capita
Premium in US$, and Penetration of Insurance by Category -
Life and Non-Life LA-100

Table 77: Mexican Insurance Industry (2005): Percentage
Breakdown of Total Insurance Premiums by Category - Auto,
Catastrophe, Civil Liability, Death and Disability, Fire,
Group Life, Individual Life, MAT, Medical, and Others
(includes corresponding Graph/Chart) LA-100
Premium Tax in Mexico LA-101
Insurance Brokers LA-101
Environmental Risks LA-101
Challenges Before the Mexican Insurance Industry LA-101
Failings of Mexican Insurers LA-102
Mindset of Mexicans - An Obstacle for Insurance Sector LA-102
Outlook LA-102
A Promising Future LA-102
Competitive Landscape LA-103
Table 78: Leading Players in Mexican Insurance Industry
(2005): Percentage Market Share by Gross Written Premiums of
Companies - ABA, Banamex, Bancomer, Banorte, GNP, ING
Comercial America, Inbursa, Monterrey, Mapfre, Qualitas, and
Others (includes corresponding Graph/Chart) LA-103

Table 79: Leading Players in the Mexican Insurance Industry
(2004): Percentage Market Share for Grupo Nacional
Provincial, Seguros Comercial America, MetLife Mexico,
Seguros Banamex, Seguros Inbursa, Seguros Monterrey New York
Life, Mapfire, Tepeyac, Qualitas, Seguros Bbva Bancomer,
Zurich and Others (includes corresponding Graph/Chart) LA-104

Table 80: Mexican Insurance Industry (2004): Leading
Companies’ Percentage Business Mix for Life, Auto,
Accident/Illness, and Other Non-Life LA-104

2. A Segmental Perspective LA-105

2a. Life Insurance LA-105
Market Leaders LA-105
Table 81: Leading Players in Mexican Life Insurance Market
(2005): Percentage Market Share by Company - Comercial
America, GNP, MetLife Mexico, Seguros Monterrey New York
Life, Seguros Bancomer, S.A. de C.V., and Others (includes
corresponding Graph/Chart) LA-105

Table 82: Top-Five Players in the Mexican Life Insurance
Industry (2003) - Gross Written Premiums in US$ Million for
Metlife Mexico, G.N.P., Monterrey New York Life, ING
Comercial America, and Banamex (includes corresponding
Graph/Chart) LA-106

2b. Health Insurance - A Growth Prospect LA-107
Cross-Border Health Insurance Market LA-107
ISES LA-107

2c. Non-Life Insurance LA-109
Table 83: Mexican Property & Casualty Insurance Market (2005):
Percentage Breakdown by Category - Agriculture, Automobile,
Credit, Earthquake, Fire, Marine & Transportation, Liability,
and Mixed (includes corresponding Graph/Chart) LA-109

Table 84: Non-Life Insurance Industry in Mexico (1H
2001-2004): Gross Premium Income in US$ Billion (includes
corresponding Graph/Chart) LA-109
Market Leaders LA-109
Table 85: Mexican Non-Life Insurance Industry (2004) - Gross
Written Premiums in US$ Million by Leading Companies for ING,
Comercial America, G.N.P., Inbursa, Zurich, Aba/Seguros,
Qualitas, Mapfre Tepeyac, BBVA Bancomer, Allianz Mexico and
Atlas (includes corresponding Graph/Chart) LA-110

Table 86: Top-Five Players in the Mexican Non-Life Insurance
Industry (2003) - Gross Written Premiums in US$ Million for
ING Comercial America, G.N.P., Inbursa, Mapfre Tepeyac, and
Zurich (Consolidado) (includes corresponding Graph/Chart) LA-110
Auto Insurance LA-110
Commercial and Homeowners Property LA-111
Liability Limitations LA-111

3. A Recent Past Perspective LA-112
2000-2001: Emergence as the ‘Happening’ Place LA-112
Table 87: Mexican Insurance Industry (2000 & 2001): Premium
Written in Billion Pesos by Type of Insurance for Life,
Pension, Health & Accident, Auto, and Others (includes
corresponding Graph/Chart) LA-112
Leading Players LA-113
Table 88: Mexican Insurance Industry (1999 & 2000): Leading
Insurers Ranked by Gross Written Premium in US$ Million
(includes corresponding Graph/Chart) LA-113

4. A Backgrounder on the Market LA-114
Undeveloped Nature of Insurance LA-114
Impact of Globalization LA-114
NAFTA and the Insurance Industry LA-114
Legislation Reshapes the Market LA-115
Structural Changes Come to Fruition LA-115
The Darker Side LA-116
Life and Pensions Scenario LA-116

5. Recent Industry Activity LA-118
MetLife to Acquire AFORE Actinver LA-118
QBE Group Acquires Seguros Cumbre LA-118
Aegon Purchases 49% Stake in Seguros Argos LA-118

6. Strategic Corporate Developments in Recent Past LA-119
MetLife Acquires Seguros Genesis SA LA-119
Stewart Information Services Establishes Subsidiary in Mexico LA-119
ING Ups Stake in Seguros Comercial America LA-119
ING Renames Mexican Subsidiaries LA-119

7. Focus on Select Mexican Players LA-120
Grupo Nacional Provincial, S.A. LA-120
ING Seguros Comercial America S.A. de C.V.. LA-120
MetLife Mexico, S.A. LA-120
Seguros Inbursa. LA-120

LATIN AMERICAN EMERGING INSURANCE MARKETS

1. Barbados LA-121
Life Insurance Industry LA-121
Table 89: Life Insurance Industry of Barbados (2003): Gross
Written Premium in US$ Million by Leading Companies for Life
of Barbados, CLICO International, Sagicor Life, British
American, American Life, Colonial Life, and Insurance
Corporation of Barbados (includes corresponding Graph/Chart) LA-121
Non-Life Insurance Industry LA-122
Table 90: Non-Life Insurance Industry of Barbados (2003):
Gross Written Premium in US$ Million by Leading Companies for
Insurance Corporation of Barbados, United Insurance, Barbados
Fire And Commercial, Caribbean Home Insurance, C.G.I.
Consumers Guarantee Ins. Co. Ltd., Clico International
General Insurance Ltd., Sagicor Life Inc., Co-Operators
General Insurance Co. Ltd., Trident Insurance, and NEM (West
Indies Insurance Limited) (includes corresponding
Graph/Chart) LA-122

2. Bermuda LA-123
Table 91: Bermuda Insurance Market: Gross Premiums Written and
Net Premiums Written in US$ Billion for Years 2001to 2004
(includes corresponding Graph/Chart) LA-123
History of Insurance Market LA-123
Market Leaders LA-123
Table 92: Property & Casualty Insurance Industry of Bermuda
(2005 & 2006): Net Written Premium in US$ Billion for Select
Companies -ACE Limited, XL Capital, Everest Re, PartnerRe,
Arch Capital, Axis Capital, Aspen Insurance, Endurance
Specialty, Renaissance Re, Allied World Assurance, and Max Re
Capital Ltd (includes corresponding Graph/Chart) LA-124

Table 93: Non-Life Insurance Industry of Bermuda (2003):
Written Premium in US$ Billion by Leading Companies for ACE,
XL Capital, Partner Re, Arch Capital, AXIS Capital, Endurance
Speciality, Allied World Assurance, Renaissance Re, Everest
Reinsurance and ALEA (includes corresponding Graph/Chart) LA-124

3. Colombia LA-125
Market Overview LA-125
Table 94: Colombian Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2005 through 2009 (includes
corresponding Graph/Chart LA-125

Table 95: Colombian 5-Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Markets for 2005, 2007, and 2009 (includes
corresponding Graph/Chart) LA-126
Life Insurance Industry LA-126
Table 96: Colombian Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for
Suramericana, Bolivar, Vidalfa, Colpatria, Colseguros,
Suratep, Royal & SunAlliance, BBVA, Colmena, and Mapfre
(includes corresponding Graph/Chart) LA-126

Table 97: Leading Players in the Colombian Life Insurance
Industry (2003) - Gross Written Premium in US$ Million for
Suramericana, Bolivar, Vidalfa, Colpatria, and
Colseguros(includes corresponding Graph/Chart) LA-127
Non-Life Insurance Industry LA-127
Table 98: Leading Players in the Colombian Non-Life Insurance
Industry (2003) - Gross Written Premium in US$ Million for
Previsora, Colseguros, Liberty, Suramericana, and Estado
(includes corresponding Graph/Chart) LA-127
Insurance in Colombia: A Historical Perspective LA-128
Table 99: Insurance Industry in Colombia (1999 & 2000):
Leading Insurers Ranked by Gross Premiums Written (In US$
Million) (includes corresponding Graph/Chart) LA-128

4. Costa Rica LA-129
Table 100: Costa Rican Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Million for the Years 2005 through 2009 (includes
corresponding Graph/Chart) LA-129

Table 101: Costa Rican 5-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2005, 2007, and 2009
(includes corresponding Graph/Chart) LA-130

5. Dominican Republic LA-131
Market Overview LA-131
Table 102: Dominican Republic Recent Past, Current & Future
Analysis for Insurance Industry by Segment - Life and
Non-Life Markets Independently Analyzed with Annual Premium
Income in US$ Million for the Years 2005 through 2009
(includes corresponding Graph/Chart) LA-131

Table 103: Dominican Republic 5-Year Perspective for
Insurance Industry by Segment - Percentage Breakdown of
Premium Income for Life and Non-Life Markets for 2005, 2007,
and 2009 (includes corresponding Graph/Chart) LA-132
Life Insurance Market LA-132
Table 104: Leading Players in the Life Insurance Industry of
Dominican Republic (2003) - Gross Written Premium in US$
Million for Seguros Popular, Segna, Colonial De Seguros, Cia
de Seguros Palic, and Seguros Banreservas (includes
corresponding Graph/Chart) LA-132
Non-Life Insurance Market LA-133
Table 105: Dominican Republic Non-Life Insurance Industry
(2003): Gross Written Premium in US$ Million by Leading
Companies for Seguros Popular, Seguros Banreservas, Segna,
Colonial de Seguros, Cia De Seguros Palic, PROSEGUROS,
Seguros Pepin, Monumential de Seguros, Union de Seguros, and
Confederacion del Canada (includes corresponding Graph/Chart) LA-133

Table 106: Leading Players in the Non-Life Insurance Industry
of Dominican Republic (2002) - Gross Written Premium in US$
Million for Segna, Seguros Popular, Intercontinental de
Seguros, Colonial de Seguros, and Cia. De Seguros Palic
(includes corresponding Graph/Chart) LA-134
The Health Insurance Sector LA-134

6. Ecuador LA-135
Market Overview LA-135
Table 107: Ecuadorian Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Million for the Years 2005 through 2009 (includes
corresponding Graph/Chart) LA-135

Table 108: Ecuadorian 5-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2005, 2007, and 2009
(includes corresponding Graph/Chart) LA-136
Life Insurance Market LA-136
Table 109: Ecuadorian Life Insurance Industry (2007):
Percentage Breakup of Insured Population for Domestic and
Offshore Insurance Companies by Policy Type (includes
corresponding Graph/Chart) LA-136

Table 110: Ecuadorian Life Insurance Industry (2006-2008):
Percentage Market Share for Domestic and Offshore Insurance
Companies by Policy Type (includes corresponding Graph/Chart) LA-137
Market Leaders-A Recent Past Perspective LA-137
Table 111: Ecuadorian Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for Pan
American Life, BMI, Equivida, Pichincha, Bolivar,
Rocafuerte, Colvida, Ace, Panamericana, and Rio Guayas
(includes corresponding Graph/Chart) LA-137

Table 112: Ecuadorian Health and Medical Assistance
Insurance Market (2004): Policywriting in US$ Millions and
Percentage Breakdown by Category - IESS, Prepaid-Medicine
Companies, and Private Insurance Companies (includes
corresponding Graph/Chart) LA-138

Table 113: Leading Players in Ecuadorian Health Insurance
Market (2004): Percentage Market Share of Insurance and
Prepaid Medicine by Company - BMI, Bolívar, Ecuasanitas,
Health, Humana, PALIC, Pichincha, Rocafuerte, Bolívar, Salud
Coop, Other Prepaid-Medicine Companies, and Other Insurance
Companies (includes corresponding Graph/Chart) LA-138

Table 114: Leading Players in Life Insurance Industry of
Ecuador (2003) - Gross Written Premium in US$ Million for
Pan American Life, Pichincha, Bolivar, Equivida, and
Panamericana (includes corresponding Graph/Chart) LA-138
Non-Life Insurance Market LA-139
Table 115: Leading Players in the Non-Life Insurance
Industry of Ecuador (2003) - Gross Written Premium in US$
Million for Colonial, Equinoccial, AIG Metropolitana,
Interoceanica, and Aseguradora del Sur (includes
corresponding Graph/Chart) LA-139
Health Care Insurance LA-139

7. El Salvador LA-140
Market Overview LA-140
Table 116: El Salvador Recent Past, Current & Future
Analysis for Insurance Industry by Segment - Life and
Non-Life Markets Independently Analyzed with Annual Premium
Income in US$ Million for the Years 2005 through 2009
(includes corresponding Graph/Chart) LA-140

Table 117: El Salvador 5-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2005, 2007, and 2009
(includes corresponding Graph/Chart) LA-141
Market Leaders - A Recent Past Perspective LA-141
Table 118: Insurance Industry of El Salvador (2003): Gross
Written Premium in US$ Million by Leading Companies for SISA
Vida, La Centro Americana, Compania General de Seguros,
Segurose Inversiones, Aseguradora Suiza Salvadorena,
Aseguradora Agricola, Asesuisa Vida, Internacional de
Seguros, AIG Union y Desarrollo, and BBVA Seguros (includes
corresponding Graph/Chart) LA-141

Table 119: Leading Players in the Insurance Industry of El
Salvador (2002) - Gross Written Premium in US$ Million for
Aseguradora Suiza Salvadorena
SISA, Vida
Seguros e
Inversiones
La Centro Americana
and Compania General de
Seguros (includes corresponding Graph/Chart) LA-142

8. Guatemala LA-143
Leading Players: Non-Life Insurance LA-143
Table 120: Leading Players in the Non-Life Insurance Industry
of Guatemala (2003) - Gross Written Premium in US$ Million
for G&T, Roble, General, Universales, and Occidente
(includes corresponding Graph/Chart) LA-143

9. Honduras LA-144
Leading Players: Life Insurance Sector LA-144
Table 121: Honduran Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Palic, Adhorro, Interamericana, Atlantida, Aseguradora,
Crefisa, Continental, Previsa, Del Pais, and Equidad
(includes corresponding Graph/Chart) LA-144

Table 122: Leading Players in the Life Insurance Industry of
Honduras (2002) - Gross Written Premium in US$ Million for
Palic, Aseguradora, Adhorro, Atlantida, and Crefisa (includes
corresponding Graph/Chart) LA-144
Leading Players: Non-Life Insurance Sector LA-145
Table 123: Honduran Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Ahorro, Atlantida, Interamericana, Aseguradora, American,
Continental, Crefisa, Previsa, Del Pais, and Equidad
(includes corresponding Graph/Chart) LA-145

Table 124: Leading Players in the Non-Life Insurance
Industry of Honduras (2002) - Gross Written Premium in US$
Million for Adhorro, Interamericana, Atlantida, Aseguradora,
and Continental (includes corresponding Graph/Chart) LA-145

10. Jamaica LA-146
Market Overview LA-146
Table 125: Jamaican Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life
Markets Independently Analyzed with Annual Premium Income in
US$ Million for the Years 2005 through 2009 (includes
corresponding Graph/Chart) LA-146

Table 126: Jamaican 5-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2005, 2007, and 2009
(includes corresponding Graph/Chart) LA-147
Life Insurance Sector LA-147
Table 127: Leading Players in the Jamaican Life Insurance
Industry (2003) - Gross Written Premium in US$ Million for
Life of Jamaica, Guardian Life, Blue Cross, First Life, and
Cuna Mutual (includes corresponding Graph/Chart) LA-147
Non-Life Insurance Sector LA-148
Table 128: Leading Players in the Jamaican Non-Life Insurance
Industry (2003) - Gross Written Premium in US$ Million for
United General, NEM, Insurance Co. of West Indies, Dyoll,
and West Indies Alliance (includes corresponding
Graph/Chart) LA-148

11. Panama LA-149
Industry Overview LA-149
Table 129: Panamanian Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Million for the Years 2005 through 2009 (includes
corresponding Graph/Chart) LA-150

Table 130: Panamanian 5-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2005, 2007, and 2009
(includes corresponding Graph/Chart) LA-150
Life Insurance Sector LA-151
Table 131: Life Insurance Industry in Panama (2004): Gross
Written Premium in US$ Million by Leading Companies for
Aseguradora Mundial, Compania Internacional, ASSA, Compania
Nacional, American Life, Assicurazioni Generali, Pan
American, Pan America Life, British American, and Compania
Istmena (includes corresponding Graph/Chart) LA-151

Table 132: Leading Players in the Life Insurance Industry of
Panama (2003) - Gross Written Premium in US$ Million for
Aseguradora Mundial, ASSA, Compania Internacional, American
Life, and Assicurazioni Generali (includes corresponding
Graph/Chart) LA-151
Non-Life Insurance Sector LA-152
Table 133: Leading Players in the Non-Life Insurance
Industry of Panama (2003) - Gross Written Premium in US$
Million for ASSA, Compania Internacional, Compania Nacional,
Aseguradora Mundial, and Assicurazioni Generali (includes
corresponding Graph/Chart) LA-152

12. Peru LA-153
Market Overview LA-153
Table 134: Peruvian Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life
Markets Independently Analyzed with Annual Premium Income in
US$ Million for the Years 2005 through 2009 (includes
corresponding Graph/Chart) LA-153

Table 135: Peruvian 5-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2005, 2007, and 2009
(includes corresponding Graph/Chart) LA-154

Table 136: Peruvian Insurance Industry (2006 & 2007):
Percentage Breakdown of Market Shares by Company - Rimac, El
Pacifico Peruano Suiza, El Pacifico Vida, Invita, La
Positiva, Interseguro, and Others (includes corresponding
Graph/Chart) LA-154
Life Insurance Sector LA-155
Table 137: Leading Players in the Life Insurance Industry of
Peru (2003) - Gross Written Premium in US$ Million for El
Pacifico Vida, Interseguro, Rimac International, InVita, and
Mapfre Peru Vida (includes corresponding Graph/Chart) LA-155
Non-Life Insurance Sector LA-155
Table 138: Leading Players in the Non-Life Insurance Industry
of Peru (2003) - Gross Written Premium in US$ Million for
Rimac Internacional, El Pacifico Peruano Suiza, La Positiva,
Royal & SunAlliance, and Generali Peru (includes
corresponding Graph/Chart) LA-156

13. Trinidad and Tobago LA-157
Market Overview LA-157
Table 139: Trinidad and Tobago Recent Past, Current & Future
Analysis for Insurance Industry by Segment - Life and
Non-Life Markets Independently Analyzed with Annual Premium
Income in US$ Million for the Years 2005 through 2009
(includes corresponding Graph/Chart) LA-157

Table 140: Trinidad and Tobago 5-Year Perspective for
Insurance Industry by Segment - Percentage Breakdown of
Premium Income for Life and Non-Life Markets for 2005, 2007,
and 2009 (includes corresponding Graph/Chart) LA-158
Life Insurance Sector LA-158
Table 141: Life Insurance Industry in Trinidad and Tobago
(2003): Gross Written Premium in US$ Million by Leading
Companies for Clico, Guardian, Sagicor, Algico, British
American, Maritime, Tatil, Cuna, Life of Barbados, and
Bancassurance (includes corresponding Graph/Chart) LA-158

Table 142: Leading Players in the Life Insurance Industry of
Trinidad and Tobago (2002) - Gross Written Premium in US$
Million for Clico, Sagicor, Guardian, Maritime, and Algico
(includes corresponding Graph/Chart) LA-159
Non-Life Insurance Sector LA-160
Table 143: Non-Life Insurance Industry in Trinidad and Tobago
(2003): Gross Written Premium in US$ Million by Leading
Companies for Chic, Algico, Maritime, Nemwil, Colfire, Tatil,
Beacon, Capital, GTM, and Gulf (includes corresponding
Graph/Chart) LA-160

Table 144: Leading Players in the Non-Life Insurance Industry
of Trinidad and Tobago (2002) - Gross Written Premium in US$
Million for Algico, Chic, Nemwil, Colfire, and Tatil
(includes corresponding Graph/Chart) LA-160

14. Uruguay LA-161
Life Insurance Sector LA-161
Table 145: Uruguayan Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for Banco
de Seguros del Estado, ALICO, Real Uruguaya, Metropolitan
Life, Cooperativa de Seguros Sucro, and Santander (includes
corresponding Graph/Chart) LA-161

Table 146: Leading Players in the Life Insurance Industry of
Uruguay (2002) - Gross Written Premium in US$ Million for
Banco de Seguros del Estado, Real Uruguaya, ALICO,
Cooperativa de Seguros Surco, and Metropolitan Life (includes
corresponding Graph/Chart) LA-161
Non-Life Insurance Sector LA-162
Table 147: Uruguayan Non-Life Insurance Industry (2003):
Gross Written Premium in US$ Million by Leading Companies for
Banco de Seguros del Estado, Royal & SunAlliance, Porto
Seguro-Seguros, AIG Uruguay, Mapfre Uruguay, AXA Seguros,
Real Uruguaya, FAR, Compania Uruguaya de Seguros, and Alianca
de Bahia (includes corresponding Graph/Chart) LA-162

Table 148: Leading Players in the Non-Life Insurance Industry
of Uruguay (2002) - Gross Written Premium in US$ Million for
Banco de Seguros del Estado, Royal & SunAlliance, Porto
Seguro-Seguros, AIG Uruguay, and Mapfre Uruguay (includes
corresponding Graph/Chart) LA-162

15. Venezuela LA-163
Market Overview LA-163
Table 149: Venezuelan Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life and Non-Life
Markets Independently Analyzed with Annual Premium Income in
US$ Million for the Years 2005 through 2009 (includes
corresponding Graph/Chart) LA-163

Table 150: Venezuelan 5-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2005, 2007, and 2009
(includes corresponding Graph/Chart) LA-163
Life Insurance Sector LA-164
Table 151: Venezuelan Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Mapfre, Caracas de Liberty, Previsora, Bancentro,
Multinacional, Horizonte, Ban Valor, Mercantil, Nuevo Mundo,
and Adriatica (includes corresponding Graph/Chart) LA-164

Table 152: Leading Players in the Venezuelan Life Insurance
Industry (2002) - Gross Written Premium in US$ Million for
Seguridad, Multinacional de Seguros, Horizonte, Previsora
C.N.A., and Caracas de Liberty Mutual (includes
corresponding Graph/Chart) LA-164
Non-Life Insurance Sector LA-165
Table 153: Venezuelan Non-Life Insurance Industry (2003):
Gross Written Premium in US$ Million by Leading Companies for
Caracas de Liberty Mutual, Mercantil, Zurich, Mapfre,
Multinacional, Adriatica, Catatumbo, Bancentro, Nuevo Mundo,
and Previsora (includes corresponding Graph/Chart) LA-165

Table 154: Leading Players in the Venezuelan Non-Life
Insurance Industry (2002) - Gross Written Premium in US$
Million for Caracas de Liberty Mutual, Mercantil, Zurich
Seguros, Seguridad, and Multinacional de Seguros (includes
corresponding Graph/Chart) LA-165

16. Recent Industry Activity LA-166
Validus Acquires Talbot LA-166
Brit Insurance to Establish New Reinsurance Company LA-166
Hiscox acquires Kidnap and Ransom Business from Aon LA-166
Lexington Insurance Opens Office in Bermuda LA-166
Olympus Divests from Talbot LA-166
Max Re Capital Changes its Name LA-167
Fortress Group to Buy Alea LA-167
PXRE and Argonaut Pens Merger Deal LA-167
Enstar Acquires Inter-Ocean Holdings LA-167
Argus Takes Over Tremont International LA-167
AGF to Sell Adriatica de Seguros LA-167
Global Tuition & Education Insurance to Acquire R&SA Seguros
de Vida LA-167
Scor to Bid for Acquisition of Scottish Re LA-168
Hiscox Pens Reinsurance Agreement with WL Ross & Co LA-168

17. Strategic Corporate Developments in Recent Past LA-169
Stewart Title Acquires Majority Stake in San Juan Abstract LA-169
Mariategui Teams Up with HLA Global Insurance Network LA-169
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