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Personal Accident and Health Insurance in Venezuela, Key Trends and Opportunities to 2020

  • Published Date: 30 Jun 2017
  • Number of Pages: 108
  • Category: Finance and Banking
  • Country: Venezuela

Synopsis


Timetrics Personal Accident and Health Insurance in Venezuela, Key Trends and Opportunities to 2020 report provides a detailed outlook by product category for the Venezuelan personal accident and health insurance segment, and a comparison of the Venezuelan insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (20112015) and forecast period (20152020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Venezuelan economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetrics research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary


Timetrics Personal Accident and Health Insurance in Venezuela, Key Trends and Opportunities to 2020 report provides in-depth market analysis, information and insights into the Venezuelan personal accident and health insurance segment, including:

An overview of the Venezuelan personal accident and health insurance segment

The Venezuelan personal accident and health insurance segments growth prospects by category

A comprehensive overview of the Venezuelan economy and demographics

A comparison of the Venezuelan personal accident and health insurance segment with its regional counterparts

The various distribution channels in the Venezuelan personal accident and health insurance segment

Details of the competitive landscape in the personal accident and health insurance segment in Venezuela

Details of regulatory policy applicable to the Venezuelan insurance industry

Scope


This report provides a comprehensive analysis of the personal accident and health insurance segment in Venezuela:

It provides historical values for the Venezuelan personal accident and health insurance segment for the reports 20112015 review period, and projected figures for the 20152020 forecast period.

It offers a detailed analysis of the key categories in the Venezuelan personal accident and health insurance segment, and market forecasts to 2020.

It provides a comparison of the Venezuelan personal accident and health insurance segment with its regional counterparts

It provides an overview of the various distribution channels for personal accident and health insurance products in Venezuela.

It profiles the top personal accident and health insurance companies in Venezuela, and outlines the key regulations affecting them.

Reasons To Buy


Make strategic business decisions using in-depth historic and forecast market data related to the Venezuelan personal accident and health insurance segment, and each category within it.

Understand the demand-side dynamics, key market trends and growth opportunities in the Venezuelan personal accident and health insurance segment.

Assess the competitive dynamics in the personal accident and health insurance segment.

Identify growth opportunities and market dynamics in key product categories.

Gain insights into key regulations governing the Venezuelan insurance industry, and their impact on companies and the industrys future.

Key Highlights


On December 30, 2015, the government amended the minimum capital requirements for insurance companies (Article 19 of the Insurance Activities Act 2010).

In March 2014, Regulation 008 which was issued by the Venezuelan Ministry of Popular Power for Tourism (MPPT) made travel insurance mandatory for all people traveling to and from Venezuela.

The penetration of the personal accident and health segment was 0.96% in 2015.





Publisher Name : Timetric

Table of Contents


1 KEY FACTS AND HIGHLIGHTS
2 EXECUTIVE SUMMARY
3 ECONOMY AND DEMOGRAPHICS
4 SEGMENT OUTLOOK
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 OUTLOOK BY CATEGORY
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Claims
5.1.3 Profitability
5.2 Health Insurance
5.2.1 Premium
5.2.2 Claims
5.2.3 Profitability
6 DISTRIBUTION CHANNEL OUTLOOK
6.1 Agencies
6.2 Brokers
6.3 Direct Marketing
6.4 Bancassurance
6.5 E-commerce
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Seguros Horizonte SA company overview
7.1.2 Seguros Caracas de Liberty Mutual company overview
7.1.3 Mercantil Seguros CA company overview
7.1.4 CNA de Seguros La Previsora company overview
7.1.5 Seguros Qualitas CA company overview
8 GOVERNANCE, RISK AND COMPLIANCE
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Travel insurance
8.4.3 Liability for ships with respect to oil pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Superintendencia de la Actividad Aseguradora
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 DATABOOK
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Personal Accident Insurance
9.5 Health Insurance
9.6 Health Insurance by Product
10 DEFINITIONS AND METHODOLOGY
10.1 Definitions
10.2 Methodology
11 ABOUT TIMETRIC
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetrics Services
11.4 Disclaimer


List of Tables


Table 1: Venezuelan Personal Accident and Health Insurance Key Facts, 2014
Table 2: Venezuelan Personal Accident and Health Insurance Segment Shares of the Top Insurers, 2015
Table 3: Venezuelan Government Credit Ratings
Table 4: Venezuelan Personal Accident and Health Insurance Gross Written Premium (VEF Billion and US$ Billion), 20112015
Table 5: Venezuelan Personal Accident and Health Insurance Penetration (%), 20112015
Table 6: Venezuelan Personal Accident and Health Insurance Gross Written Premium (VEF Billion and US$ Billion), 20152020
Table 7: Venezuelan Personal Accident and Health Insurance Penetration (%), 20152020
Table 8: Venezuelan Personal Accident and Health Insurance Premium per Capita (VEF and US$), 20112015
Table 9: Venezuelan Personal Accident and Health Insurance Premium per Capita (VEF and US$), 20152020
Table 10: Venezuelan Personal Accident and Health Insurance Paid Claims (VEF Billion and US$ Billion), 20112015
Table 11: Venezuelan Personal Accident and Health Insurance Paid Claims (VEF Billion and US$ Million), 20152020
Table 12: Venezuelan Personal Accident and Health Insurance Profitability Ratio (%), 20112015
Table 13: Venezuelan Personal Accident and Health Insurance Profitability Ratio (%), 20152020
Table 14: Venezuelan Personal Accident and Health Insurance Total Assets (VEF Billion and US$ Billion), 20112015
Table 15: Venezuelan Personal Accident and Health Insurance Total Assets (VEF Billion and US$ Billion), 20152020
Table 16: Venezuelan Personal Accident and Health Insurance Total Investment Income (VEF Billion and US$ Million), 20112015
Table 17: Venezuelan Personal Accident and Health Insurance Total Investment Income (VEF Billion and US$ Million), 20152020
Table 18: Venezuelan Personal Accident and Health Insurance Investment Portfolio (VEF Billion), 20112015
Table 19: Venezuelan Personal Accident and Health Insurance Investment Portfolio (VEF Billion), 20152020
Table 20: Venezuelan Personal Accident and Health Insurance Direct Written Premium by Category (VEF Billion),20112015
Table 21: Venezuelan Personal Accident and Health Insurance Direct Written Premium by Category (VEF Billion), 20152020
Table 22: Venezuelan Personal Accident Insurance Direct Written Premium (VEF Billion and US$ Million), 20112015
Table 23: Venezuelan Personal Accident Insurance Direct Written Premium (VEF Billion and US$ Million), 20152020
Table 24: Venezuelan Personal Accident Insurance Paid Claims (VEF Million and US$ Million), 20112015
Table 25: Venezuelan Personal Accident Insurance Paid Claims (VEF Billion and US$ Million), 20152020
Table 26: Venezuelan Personal Accident Insurance Loss Ratio (%), 20112015
Table 27: Venezuelan Personal Accident Insurance Loss Ratio (%), 20152020
Table 28: Venezuelan Health Insurance Direct Written Premium (VEF Billion), 20112015
Table 29: Venezuelan Health Insurance Direct Written Premium (VEF Billion), 20152020
Table 30: Venezuelan Health Insurance Paid Claims (VEF Billion and US$ Billion), 20112015
Table 31: Venezuelan Health Insurance Paid Claims (VEF Billion and US$ Billion), 20152020
Table 32: Venezuelan Health Insurance Loss Ratio (%), 20112015
Table 33: Venezuelan Health Insurance Loss Ratio (%), 20152020
Table 34: Venezuelan Personal Accident and Health Insurance Market Shares of Leading Insurers (%), 2015
Table 35: Seguros Horizonte SA Key Facts
Table 36: Seguros Horizonte SA Key Financials (VEF Billion), 20112015
Table 37: Seguros Caracas de Liberty Mutual Key Facts
Table 38: Seguros Caracas de Liberty Mutual Key Financials (US$ Billion), 20112015
Table 39: Mercantil Seguros CA Key Facts
Table 40: Mercantil Seguros CA Key Financials (VEF Billion), 20112015
Table 41: CNA de Seguros La Previsora Key Facts
Table 42: CNA de Seguros La Previsora Key Financials (VEF Billion), 20112015
Table 43: Seguros Qualitas CA Key Facts
Table 44: Seguros Qualitas CA Key Financials (US$ Billion), 20112015
Table 45: Venezuela Insurance Regulatory Framework Key Features
Table 46: Venezuela Life Insurance Regulatory Framework
Table 47: Venezuela Property Insurance Regulatory Framework
Table 48: Venezuela Motor Insurance Regulatory Framework
Table 49: Venezuela Liability Insurance Regulatory Framework
Table 50: Venezuela Corporate Tax Rates for the Financial Year 2017
Table 51: Venezuelan Personal Accident and Health Insurance Industry Policies and Premium, 20112015
Table 52: Venezuelan Personal Accident and Health Insurance Industry Policies and Premium, 20152020
Table 53: Venezuelan Personal Accident and Health Insurance Claims and Expenses, 20112015
Table 54: Venezuelan Personal Accident and Health Insurance Claims and Expenses, 20152020
Table 55: Venezuelan Personal Accident and Health Insurance Assets and Investments, 20112015
Table 56: Venezuelan Personal Accident and Health Insurance Assets and Investments, 20152020
Table 57: Venezuelan Personal Accident and Health Insurance Personal Accident Insurance, 20112015
Table 58: Venezuelan Personal Accident and Health Insurance Personal Accident Insurance, 20152020
Table 59: Venezuelan Personal Accident and Health Insurance Health Insurance, 20112015
Table 60: Venezuelan Personal Accident and Health Insurance Health Insurance, 20152020
Table 61: Venezuelan Personal Accident and Health Insurance Health by Product, 20112015
Table 62: Venezuelan Personal Accident and Health Insurance Health by Product, 20152020
Table 63: Insurance Industry Definitions


List of Figures


Figure 1: Venezuelan Real GDP (VEF Billion), 20112020
Figure 2: Venezuelan Inflation Rate (%), 20112015
Figure 3: Venezuelan Inflation Rate (%), 20152020
Figure 4: Venezuelan VEF-US$ Exchange Rate, 20112015
Figure 5: Venezuelan VEF-US$ Exchange Rate, 20152020
Figure 6: Venezuelan Current Account Balance (% of GDP), 20112015
Figure 7: Venezuelan Unemployment Rate, 20112020
Figure 8: Venezuelan Population by Age Group, 19912025
Figure 9: Venezuelan Personal Accident and Health Insurance Penetration Regional Comparison (%), 2015
Figure 10: Venezuelan Insurance Segment Direct Written Premium Shares Regional Comparison (%), 2015
Figure 11: Venezuelan Personal Accident and Health Insurance Gross Written Premium (VEF Billion), 20112015
Figure 12: Venezuelan Personal Accident and Health Insurance Gross Written Premium (VEF Billion), 20152020
Figure 13: Venezuelan Personal Accident and Health Insurance Penetration (%), 20112020
Figure 14: Venezuelan Personal Accident and Health Insurance Premium per Capita (VEF), 20112015
Figure 15: Venezuelan Personal Accident and Health Insurance Premium per Capita (VEF), 20152020
Figure 16: Venezuelan Personal Accident and Health Insurance Paid Claims (VEF Billion), 20112015
Figure 17: Venezuelan Personal Accident and Health Insurance Paid Claims (VEF Billion), 20152020
Figure 18: Venezuelan Personal Accident and Health Insurance Profitability Ratio (%), 20112020
Figure 19: Venezuelan Personal Accident and Health Insurance Total Assets (VEF Billion), 20112015
Figure 20: Venezuelan Personal Accident and Health Insurance Total Assets (VEF Billion), 20152020
Figure 21: Venezuelan Personal Accident and Health Insurance Total Investment Income (VEF Billion), 20112015
Figure 22: Venezuelan Personal Accident and Health Insurance Total Investment Income (VEF Billion), 20152020
Figure 23: Venezuelan Personal Accident and Health Insurance Investment Portfolio (VEF Billion), 20112015
Figure 24: Venezuelan Personal Accident and Health Insurance Investment Portfolio (VEF Billion), 20112015
Figure 25: Venezuelan Personal Accident and Health Insurance Investment Portfolio Dynamics by Category, 20152020
Figure 26: Venezuelan Personal Accident and Health Insurance Direct Written Premium by Category (VEF Billion), 20112015
Figure 27: Venezuelan Personal Accident and Health Insurance Direct Written Premium by Category (VEF Billion), 20152020
Figure 28: Venezuelan Personal Accident and Health Insurance Direct Written Premium Dynamics by Category, 20112020
Figure 29: Venezuelan Personal Accident Insurance Direct Written Premium (VEF Billion), 20112020
Figure 30: Venezuelan Personal Accident Insurance Direct Written Premium (VEF Billion), 20112020
Figure 31: Venezuelan Personal Accident Insurance Paid Claims (VEF Billion), 20112015
Figure 32: Venezuelan Personal Accident Insurance Paid Claims (VEF Billion), 20152020
Figure 33: Venezuelan Personal Accident Insurance Earned Premium, Incurred Loss and Loss Ratio (VEF Billion and %), 20112015
Figure 34: Venezuelan Personal Accident Insurance Earned Premium, Incurred Loss and Loss Ratio (VEF Billion and %), 20152020
Figure 35: Venezuelan Health Insurance Direct Written Premium (VEF Billion), 20112015
Figure 36: Venezuelan Health Insurance Direct Written Premium (VEF Billion), 20112015
Figure 37: Venezuelan Health Insurance Paid Claims (VEF Billion), 20112020
Figure 38: Venezuelan Health Insurance Paid Claims (VEF Billion), 20112020
Figure 39: Venezuelan Health Insurance Earned Premium, Incurred Loss and Loss Ratio (VEF Billion and %), 20112020
Figure 40: Venezuelan Health Insurance Earned Premium, Incurred Loss and Loss Ratio (VEF Billion and %), 20112020
Figure 41: Venezuelan Personal Accident and Health Insurance Market Shares of Leading Insurers (%), 2015
Figure 42: Venezuela Insurance Supervision and Control at Various Levels
Figure 43: Venezuela Insurance Regulatory Frameworks for Company Registration and Operation


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