The Latin American insurance market in 2016

The report includes an analysis of the insurance market in Latin America and the Caribbean and the economic environment. In 2016, the region’s economy contracted close to -1.2 percent (-2.9 percent in Venezuela), especially influenced by the recession in Brazil and Argentina. Regional activity is expected to gain momentum in 2017. Premiums in the insurance market showed light growth of 1.2 percent, thanks to the improved behavior of Life insurance. Non-Life business, which is strongly linked to economic growth, suffered a 3.1 percent contraction measured in US dollars. The report delves deeper into the key strengths of 2016 and the structural trends in the last decade, regionally and by country, including a ranking of key competitors and an overview of the relevant regulatory changes in each of the markets.