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Personal Accident and Health Insurance in Uruguay, Key Trends and Opportunities to 2021

Published: Sep, 2017 | Pages: 74 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

Timetric's 'Personal Accident and Health Insurance in Uruguay, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Uruguayan personal accident and health insurance segment, and a comparison of the Uruguayan 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 (2012-2016) and forecast period (2016-2021). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Uruguayan economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together Timetric's 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

Timetric's 'Personal Accident and Health Insurance in Uruguay, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Uruguayan personal accident and health insurance segment, including: • An overview of the Uruguayan personal accident and health insurance segment • The Uruguayan personal accident and health insurance segment's growth prospects by category • A comprehensive overview of the Uruguayan economy and demographics • A comparison of the Uruguayan personal accident and health insurance segment with its regional counterparts • The various distribution channels in the Uruguayan personal accident and health insurance segment • Details of the competitive landscape in the personal accident and health insurance segment in Uruguay • Details of regulatory policy applicable to the Uruguayan insurance industry

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Uruguay: • It provides historical values for the Uruguayan personal accident and health insurance segment for the report's 2012-2016 review period, and projected figures for the 2016-2021 forecast period. • It offers a detailed analysis of the key categories in the Uruguayan personal accident and health insurance segment, and market forecasts to 2021. • It provides a comparison of the Uruguayan 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 Uruguay. • It profiles the top personal accident and health insurance companies in Uruguay, 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 Uruguayan personal accident and health insurance segment, and each category within it. • Understand the demand-side dynamics, key market trends and growth opportunities in the Uruguayan 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 Uruguayan insurance industry, and their impact on companies and the industry's future.

Key Highlights

• In July 2016, Suramericana SA, the insurance subsidiary holding of Grupo de Inversiones Suramericana (Grupo Sura), completed the acquisition of Royal & Sun Alliance insurance (Uruguay). • The public sector is administrated by the Ministry of Public Health (MoPH) under the supervision of the State Health Services Administration (ASSE).
 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 DISTRIBUTION CHANNEL OUTLOOK 6 COMPETITIVE LANDSCAPE 6.1 Company Profiles 6.1.1 Banco de Seguros del Estado - company overview 6.1.2 MetLife Seguros SA - company overview 6.1.3 Mapfre La Uruguaya SA - company overview 6.1.4 Seguros Sura SA - company overview 6.1.5 Sancor Seguros SA - company overview 7 GOVERNANCE, RISK AND COMPLIANCE 7.1 Legislation Overview and Historical Evolution 7.2 Latest Changes in Regulation 7.3 Legislation and Market Practice by Type of Insurance 7.3.1 Life insurance 7.3.2 Property insurance 7.3.3 Motor insurance 7.3.4 Liability insurance 7.3.5 Marine, aviation and transit insurance 7.3.6 Personal accident and health insurance 7.4 Compulsory Insurance 7.4.1 Workers' compensation insurance 7.4.2 Motor third-party liability insurance 7.4.3 Liability for ships with respect to oil pollution 7.4.4 Aviation liability insurance 7.5 Supervision and Control 7.5.1 International Association of Insurance Supervisors 7.5.2 Association of Insurance Supervisors Latin America 7.5.3 Superintendence of Insurance and Reinsurance 7.5.4 Asociacion Uruguaya de Empresas Aseguradoras 7.6 Non-Admitted Insurance Regulations 7.6.1 Overview 7.6.2 Intermediaries 7.6.3 Market practices 7.6.4 Fines and penalties 7.7 Company Registration and Operations 7.7.1 Type of insurance organization 7.7.2 Establishing a local company 7.7.3 Foreign ownership 7.7.4 Types of license 7.7.5 Capital requirements 7.7.6 Solvency margin 7.7.7 Reserve requirements 7.7.8 Investment regulations 7.7.9 Statutory return requirements 7.7.10 Fee structure 7.8 Taxation 7.8.1 Insurance premium or policy taxations 7.8.2 Withholding taxes on premium paid overseas. 7.8.3 Corporate tax 7.8.4 VAT 7.8.5 Captives 7.9 Legal System 7.9.1 Introduction 7.9.2 Access to court 7.9.3 Alternative dispute resolution 8 DATABOOK 8.1 Policies and Premium 8.2 Claims and Expenses 8.3 Assets and Investments 9 DEFINITIONS AND METHODOLOGY 9.1 Definitions 9.2 Methodology 10 ABOUT TIMETRIC 10.1 Contact Timetric 10.2 About Timetric 10.3 Timetric's Services 10.4 Disclaimer
List of Tables

Table 1: Uruguayan Personal Accident and Health Insurance - Key Facts, 2016 Table 2: Uruguayan Personal Accident and Health Insurance - Leading Insurers, 2016 Table 3: Uruguayan Government Credit Ratings Table 4: Uruguayan Personal Accident and Health Insurance - Gross Written Premium (UYU Billion and US$ Million), 2012-2016 Table 5: Uruguayan Personal Accident and Health Insurance - Penetration (%), 2012-2016 Table 6: Uruguayan Personal Accident and Health Insurance - Gross Written Premium (UYU Billion and US$ Million), 2016-2021 Table 7: Uruguayan Personal Accident and Health Insurance - Penetration (%), 2016-2021 Table 8: Uruguayan Personal Accident and Health Insurance - Premium per Capita (UYU and US$), 2012-2016 Table 9: Uruguayan Personal Accident and Health Insurance - Premium per Capita (UYU and US$), 2016-2021 Table 10: Uruguayan Personal Accident and Health Insurance - Paid Claims (UYU Billion and US$ Million), 2012-2016 Table 11: Uruguayan Personal Accident and Health Insurance - Paid Claims (UYU Billion and US$ Million), 2016-2021 Table 12: Uruguayan Personal Accident and Health Insurance - Profitability Ratio (%), 2012-2016 Table 13: Uruguayan Personal Accident and Health Insurance - Profitability Ratio (%), 2016-2021 Table 14: Uruguayan Personal Accident and Health Insurance - Total Assets (UYU Billion and US$ Million), 2012-2016 Table 15: Uruguayan Personal Accident and Health Insurance - Total Assets (UYU Billion and US$ Million), 2016-2021 Table 16: Uruguayan Personal Accident and Health Insurance - Total Investment Income (UYU Million and US$ Million), 2012-2016 Table 17: Uruguayan Personal Accident and Health Insurance - Total Investment Income (UYU Million and US$ Million), 2016-2021 Table 18: Uruguayan Personal Accident and Health Insurance - Investment Portfolio (UYU Billion), 2012-2016 Table 19: Uruguayan Personal Accident and Health Insurance - Investment Portfolio (UYU Billion), 2016-2021 Table 20: Uruguayan Personal Accident and Health Insurance - Leading Insurers, 2016 Table 21: Banco de Seguros del Estado - Key Facts Table 22: MetLife Seguros SA - Key Facts Table 23: Mapfre La Uruguaya SA - Key Facts Table 24: Seguros Sura SA - Key Facts Table 25: Sancor Seguros SA - Key Facts Table 26: Uruguay - Insurance Regulatory Framework Key Features Table 27: Uruguay - Life Insurance Regulatory Framework Table 28: Uruguay - Property Insurance Regulatory Framework Table 29: Uruguay - Motor Insurance Regulatory Framework Table 30: Uruguay - Liability Insurance Regulatory Framework Table 31: Uruguay - Insurance Premium Tax Rates Table 32: Uruguay - Corporate Tax Rates for the Financial Year 2016 Table 33: Uruguayan Personal Accident and Health Insurance Industry - Policies and Premium, 2012-2016 Table 34: Uruguayan Personal Accident and Health Insurance Industry - Policies and Premium, 2016-2021 Table 35: Uruguayan Personal Accident and Health Insurance - Claims and Expenses, 2012-2016 Table 36: Uruguayan Personal Accident and Health Insurance - Claims and Expenses, 2016-2021 Table 37: Uruguayan Personal Accident and Health Insurance - Assets and Investments, 2012-2016 Table 38: Uruguayan Personal Accident and Health Insurance - Assets and Investments, 2016-2021 Table 39: Insurance Industry Definitions



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