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Life Insurance in Venezuela, Key Trends and Opportunities to 2018

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Date: 17-Jun-2015
No. of pages: 227
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Synopsis

Timetric's 'Life Insurance in Venezuela, Key Trends and Opportunities to 2018' report provides detailed analysis of the market trends, drivers, challenges in the Venezuelan life insurance segment. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2009-2013) and forecast period (2013-2018). The report also analyzes distribution channels operating in the segment, 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 regulatory structure.

Summary

Timetric's 'Life Insurance in Venezuela, Key Trends and Opportunities to 2018' report provides in-depth market analysis, information and insights into the Venezuelan life insurance segment, including:

• The Venezuelan life insurance segment's growth prospects by life insurance category

• Key trends, drivers and challenges for the life insurance segment

• The various distribution channels in the Venezuelan life insurance segment

• The detailed competitive landscape in the life insurance segment in Venezuela

• Detailed regulatory policies of the Venezuelan insurance industry

• Analysis of various consumer segments in Venezuelan life insurance

Scope

This report provides a comprehensive analysis of the life insurance segment in Venezuela:

• It provides historical values for the Venezuelan life insurance segment for the report's 2009-2013 review period, and projected figures for the 2013-2018 forecast period.

• It offers a detailed analysis of the key categories in the Venezuelan life insurance segment, along with market forecasts until 2018.

• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.

• It analyses the various distribution channels for life insurance products in Venezuela.

• It profiles the top life 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 life insurance segment and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Venezuelan life insurance segment.

• Assess the competitive dynamics in the life insurance segment.

• Identify the 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 industry's future.

Key Highlights

• Life insurance accounted for 3.2% of the Venezuelan insurance industry's gross written premium in 2013.

• Low penetration provides a further opportunity for life insurers to access the untapped market.

• Life segment's growth was achieved partly by the implementation of compulsory funeral insurance.

• During 2009-2013, the demand for non-linked life insurance policies increased.

• Life insurance is distributed through various channels of which insurance agencies accounted for the highest share with 46.9% of the segment's gross written premium in 2013.

• The new foreign exchange system is likely to affect negatively on insurers' operating profits.

• The country's population growth, increasing life expectancy and rising disposable income is likely to support the segment to record a CAGR of 29.3% over the forecast period.

Life Insurance in Venezuela, Key Trends and Opportunities to 2018

Table of Contents
1 Key Facts and Events
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Venezuelan Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009-2018
5 Life Insurance Outlook
5.1 Consumer Segmentation
5.2 Key Drivers
5.3 Key Trends
5.4 Challenges
5.5 Life Insurance Growth Prospects by Category
5.6 Individual Life Insurance
5.6.1 Individual whole life insurance
5.6.2 Individual general annuity insurance
5.6.3 Other individual other insurance
5.7 Group Whole Life Insurance
5.8 Life Insurance Growth Prospects by Customer Segment
5.8.1 Individual single-premium insurance
5.8.2 Individual non-single-premium insurance
5.8.3 Group single-premium insurance
5.8.4 Group non-single-premium insurance
5.9 Life Insurance Growth Prospects by Product Type
5.9.1 Total non-linked insurance business
6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 E-Commerce
6.5 Brokers
6.6 Other Channels
7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulations
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 Health insurance
7.4.2 Motor third-party liability insurance
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors (IAIS)
7.5.2 Superintendencia de la Actividad Aseguradora (Sudeaseg)
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 Types 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 margins
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 taxation
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 (ADR)
8 Competitive Landscape and Strategic Insights
8.1 Overview
8.2 Leading Companies in the Venezuelan Life Insurance Segment
8.3 Seguros Horizonte, SA, - Company Overview
8.3.1 Seguros Horizonte, SA - key facts
8.3.2 Seguros Horizonte, SA - key financials
8.4 Zurich Seguros, SA - Company Overview
8.4.1 Zurich Seguros, SA - key facts
8.4.2 Zurich Seguros, SA - key financials
8.5 La Fe Previsora Compañia de Seguros SA - Company Overview
8.5.1 La Fe Previsora Compañia de Seguros SA - Key Facts
8.5.2 La Fe Previsora Compañia de Seguros SA - key financials
8.6 Banesco Seguros, CA - Company Overview
8.6.1 Banesco Seguros, CA - key facts
8.6.2 Banesco Seguros, CA - key financials
8.7 Mercantil Seguros CA - Company Overview
8.7.1 Mercantil Seguros CA - key facts
8.7.2 Mercantil Seguros CA, - key financials
8.8 Seguros Provincial, CA - Company Overview
8.8.1 Seguros Provincial, CA, - key facts
8.8.2 Seguros Provincial, CA - key financials
8.9 Mapfre La Seguridad, CA de Seguros - Company Overview
8.9.1 Mapfre La Seguridad, CA de Seguros - key facts
8.9.2 Mapfre La Seguridad, CA de Seguros - key financials
8.1 CNA de Seguros La Previsora - Company Overview
8.10.1 CNA de Seguros La Previsora - key facts
8.10.2 CNA de Seguros La Previsora - key financials
8.11 CA de Seguros La Occidental - Company Overview
8.11.1 CA de Seguros La Occidental - key facts
8.11.2 CA de Seguros La Occidental - key financials
8.12 Seguros Caracas de Liberty Mutual - Company Overview
8.12.1 Seguros Caracas de Liberty Mutual - key facts
8.12.2 Seguros Caracas de Liberty Mutual - key financials
9 Appendix - 1
9.1 Economic Performance
9.1.1 GDP at constant prices (US$)
9.1.2 GDP per capita at constant prices (US$)
9.1.3 GDP at current prices (US$)
9.1.4 GDP per capita at current prices (US$)
9.1.5 Inflation rate
9.1.6 Exports as a percentage of GDP
9.1.7 Imports as a percentage of GDP
9.1.8 Annual average exchange rate US$-VEF
9.2 Infrastructure
9.2.1 Total internet subscribers
9.3 Labor Force
9.3.1 Unemployment rate
9.4 Demographics
9.4.1 Total population
9.4.2 Urban and rural populations
9.4.3 Age distribution of the total population
9.4.4 Life expectancy
10 Appendix - 2
10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric's Services
10.5 Disclaimer

List of Tables
Table 1: Venezuelan Life Insurance - Key Facts, 2013
Table 2: Insurance Industry Definitions
Table 3: Venezuelan Insurance Industry - Gross Written Premium by Segment (VEF Billion), 2009-2013
Table 4: Venezuelan Insurance Industry - Gross Written Premium by Segment (US$ Billion), 2009-2013
Table 5: Venezuelan Insurance Industry - Gross Written Premium by Segment (VEF Billion), 2013-2018
Table 6: Venezuelan Insurance Industry - Gross Written Premium by Segment (US$ Billion), 2013-2018
Table 7: Venezuelan Insurance Industry - Gross Written Premium by Segment (Percentage Share), 2009-2018
Table 8: Venezuelan Insurance Industry - Direct Written Premium by Segment (VEF Billion), 2009-2013
Table 9: Venezuelan Insurance Industry - Direct Written Premium by Segment (US$ Billion), 2009-2013
Table 10: Venezuelan Insurance Industry - Direct Written Premium by Segment (VEF Billion), 2013-2018
Table 11: Venezuelan Insurance Industry - Direct Written Premium by Segment (US$ Billion), 2013-2018
Table 12: Venezuelan Insurance Industry - Direct Written Premium by Segment (Percentage Share), 2009-2018
Table 13: Venezuelan Life Insurance - Gross Written Premium by Category (VEF Million), 2009-2013
Table 14: Venezuelan Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
Table 15: Venezuelan Life Insurance - Gross Written Premium by Category (VEF Million), 2013-2018
Table 16: Venezuelan Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
Table 17: Venezuelan Life Insurance - New Business Written Premium (VEF Million), 2009-2013
Table 18: Venezuelan Life Insurance - New Business Written Premium (VEF Billion), 2013-2018
Table 19: Venezuelan Life Insurance - Earned Premium (VEF Billion), 2009-2013
Table 20: Venezuelan Life Insurance - Earned Premium (VEF Billion), 2013-2018
Table 21: Venezuelan Life Insurance - Sum Assured (VEF Billion), 2009-2013
Table 22: Venezuelan Life Insurance - Sum Assured (VEF Billion), 2013-2018
Table 23: Venezuelan Life Insurance - Paid Claims (VEF Million), 2009-2013
Table 24: Venezuelan Life Insurance - Paid Claims (VEF Billion), 2013-2018
Table 25: Venezuelan Life Insurance - Incurred Loss (VEF Million), 2009-2013
Table 26: Venezuelan Life Insurance - Incurred Loss (VEF Billion), 2013-2018
Table 27: Venezuelan Life Insurance - Loss Ratio (%), 2009-2013
Table 28: Venezuelan Life Insurance - Loss Ratio (%), 2013-2018
Table 29: Venezuelan Life Insurance - Commissions and Expenses (VEF Million), 2009-2013
Table 30: Venezuelan Life Insurance - Commissions and Expenses (VEF Billion), 2013-2018
Table 31: Venezuelan Life Insurance - Combined Ratio (%), 2009-2013
Table 32: Venezuelan Life Insurance - Combined Ratio (%), 2013-2018
Table 33: Venezuelan Life Insurance - Fraud and Crimes (VEF Million), 2009-2013
Table 34: Venezuelan Life Insurance - Fraud and Crimes (VEF Million), 2013-2018
Table 35: Venezuelan Life Insurance - Total Assets (VEF Billion), 2009-2013
Table 36: Venezuelan Life Insurance - Total Assets (VEF Billion), 2013-2018
Table 37: Venezuelan Life Insurance - Total Investment Income (VEF Million), 2009-2013
Table 38: Venezuelan Life Insurance - Total Investment Income (VEF Million), 2013-2018
Table 39: Venezuelan Life Insurance - Retentions (VEF Billion), 2009-2013
Table 40: Venezuelan Life Insurance - Retentions (VEF Billion), 2013-2018
Table 41: Venezuelan Individual Life Insurance - Gross Written Premium by Category (VEF Million), 2009-2013
Table 42: Venezuelan Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
Table 43: Venezuelan Individual Life Insurance - Gross Written Premium by Category (VEF Million), 2013-2018
Table 44: Venezuelan Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
Table 45: Venezuelan Individual Life Insurance - Direct Written Premium by Category (VEF Billion), 2009-2013
Table 46: Venezuelan Individual Life Insurance - Direct Written Premium by Category (US$ Billion), 2009-2013
Table 47: Venezuelan Individual Life Insurance - Direct Written Premium by Category (VEF Billion), 2013-2018
Table 48: Venezuelan Individual Life Insurance - Direct Written Premium by Category (US$ Billion), 2013-2018
Table 49: Venezuelan Individual Life Insurance - Policies by Category (Thousand), 2009-2013
Table 50: Venezuelan Individual Life Insurance - Policies by Category (Thousand), 2013-2018
Table 51: Venezuelan Individual Whole Life Insurance - Number of Active Policies (Thousand), 2009-2013
Table 52: Venezuelan Individual Whole Life Insurance - Number of Active Policies (Thousand), 2013-2018
Table 53: Venezuelan Individual Whole Life Insurance - Gross Written Premium (VEF Million), 2009-2013
Table 54: Venezuelan Individual Whole Life Insurance - Gross Written Premium (VEF Billion), 2013-2018
Table 55: Venezuelan Individual General Annuity Insurance - Number of Active Policies (Thousand), 2009-2013
Table 56: Venezuelan Individual General Annuity Insurance - Number of Active Policies (Thousand), 2013-2018
Table 57: Venezuelan Individual General Annuity Insurance - Gross Written Premium (VEF Million), 2009-2013
Table 58: Venezuelan Individual General Annuity Insurance - Gross Written Premium (VEF Million), 2013-2018
Table 59: Venezuelan Other Individual Insurance - Number of Active Policies (Thousand), 2009-2013
Table 60: Venezuelan Other Individual Insurance - Number of Active Policies (Thousand), 2013-2018
Table 61: Venezuelan Other Individual Insurance - Gross Written Premium (VEF Billion), 2009-2013
Table 62: Venezuelan Other Individual Insurance - Gross Written Premium (VEF Billion), 2013-2018
Table 63: Venezuelan Group Whole Life Insurance - Gross Written Premium (VEF Billion), 2009-2013
Table 64: Venezuelan Group Whole Life Insurance - Gross Written Premium (VEF Billion), 2013-2018
Table 65: Venezuelan Group Whole Life Insurance - Number of Active Policies (Thousand), 2009-2013
Table 66: Venezuelan Group Whole Life Insurance - Number of Active Policies (Thousand), 2013-2018
Table 67: Venezuelan Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Table 68: Venezuelan Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Table 69: Venezuelan Individual Single-Premium Insurance - Gross Written Premium (VEF Billion), 2009-2013
Table 70: Venezuelan Individual Single-Premium Insurance - Gross Written Premium (VEF Billion), 2013-2018
Table 71: Venezuelan Individual Single-Premium Insurance - Direct Written Premium (VEF Billion), 2009-2013
Table 72: Venezuelan Individual Single-Premium Insurance - Direct Written Premium (VEF Billion), 2013-2018
Table 73: Venezuelan Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Table 74: Venezuelan Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Table 75: Venezuelan Individual Non-Single-Premium Insurance - Gross Written Premium (VEF Billion), 2009-2013
Table 76: Venezuelan Individual Non-Single-Premium Insurance - Gross Written Premium (VEF Billion), 2013-2018
Table 77: Venezuelan Individual Non-Single-Premium Insurance - Direct Written Premium (VEF Billion), 2009-2013
Table 78: Venezuelan Individual Non-Single-Premium Insurance - Direct Written Premium (VEF Billion), 2013-2018
Table 79: Venezuelan Group Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Table 80: Venezuelan Group Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Table 81: Venezuelan Group Single-Premium Insurance - Gross Written Premium (VEF Million), 2009-2013
Table 82: Venezuelan Group Single-Premium Insurance - Gross Written Premium (VEF Million), 2013-2018
Table 83: Venezuelan Group Single-Premium Insurance - Direct Written Premium (VEF Million), 2009-2013
Table 84: Venezuelan Group Single-Premium Insurance - Direct Written Premium (VEF Million), 2013-2018
Table 85: Venezuelan Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Table 86: Venezuelan Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Table 87: Venezuelan Group Non-Single-Premium Insurance - Gross Written Premium (VEF Billion), 2009-2013
Table 88: Venezuelan Group Non-Single-Premium Insurance - Gross Written Premium (VEF Billion), 2013-2018
Table 89: Venezuelan Group Non-Single-Premium Insurance - Direct Written Premium (VEF Million), 2009-2013
Table 90: Venezuelan Group Non-Single-Premium Insurance - Direct Written Premium (VEF Billion), 2013-2018
Table 91: Venezuelan Non-Linked Insurance Business - Number of Active Policies (Thousand), 2009-2013
Table 92: Venezuelan Non-Linked Insurance Business - Number of Active Policies (Thousand), 2013-2018
Table 93: Venezuelan Non-Linked Insurance Business - Gross Written Premium (VEF Billion), 2009-2013
Table 94: Venezuelan Non-Linked Insurance Business - Gross Written Premium (VEF Billion), 2013-2018
Table 95: Venezuelan Non-Linked Insurance Business - Direct Written Premium (VEF Billion), 2009-2013
Table 96: Venezuelan Non-Linked Insurance Business - Direct Written Premium (VEF Billion), 2013-2018
Table 97: Venezuelan Life Insurance - Direct Marketing Commission Paid (VEF Million), 2009-2013
Table 98: Venezuelan Life Insurance - Direct Marketing Commission Paid (VEF Million), 2013-2018
Table 99: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Table 100: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2013-2018
Table 101: Venezuelan Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2009-2013
Table 102: Venezuelan Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2013-2018
Table 103: Venezuelan Life Insurance - Number of Direct Marketing Distributors, 2009-2013
Table 104: Venezuelan Life Insurance - Number of Direct Marketing Distributors, 2013-2018
Table 105: Venezuelan Life Insurance - Bancassurance Commission Paid (VEF Million), 2009-2013
Table 106: Venezuelan Life Insurance - Bancassurance Commission Paid (VEF Million), 2013-2018
Table 107: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Table 108: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2013-2018
Table 109: Venezuelan Life Insurance - New Policies Sold Through Bancassurance (Thousand), 2009-2013
Table 110: Venezuelan Life Insurance - New Policies Sold Through Bancassurance (Thousand), 2013-2018
Table 111: Venezuelan Life Insurance - Number of Bancassurance Distributors, 2009-2013
Table 112: Venezuelan Life Insurance - Number of Bancassurance Distributors, 2013-2018
Table 113: Venezuelan Life Insurance - Commission Paid to Agencies (VEF Million), 2009-2013
Table 114: Venezuelan Life Insurance - Commission Paid to Agencies (VEF Million), 2013-2018
Table 115: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Table 116: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Billion), 2013-2018
Table 117: Venezuelan Life Insurance - New Policies Sold Through Agencies (Thousand), 2009-2013
Table 118: Venezuelan Life Insurance - New Policies Sold Through Agencies (Thousand), 2013-2018
Table 119: Venezuelan Life Insurance - Number of Agencies, 2009-2013
Table 120: Venezuelan Life Insurance - Number of Agencies, 2013-2018
Table 121: Venezuelan Life Insurance - E-Commerce Commission Paid (VEF), 2009-2013
Table 122: Venezuelan Life Insurance - E-Commerce Commission Paid (VEF Million), 2013-2018
Table 123: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Table 124: Venezuelan Life Insurance - Gross Written Premium New Business (VEF Million), 2013-2018
Table 125: Venezuelan Life Insurance - New Policies Sold Through E-Commerce (Thousand), 2009-2013
Table 126: Venezuelan Life Insurance - New Policies Sold Through E-Commerce (Thousand), 2013-2018
Table 127: Venezuelan Life Insurance - Number of E-Commerce Distributors, 2009-2013
Table 128: Venezuelan Life Insurance - Number of E-Commerce Distributors, 2013-2018
Table 129: Venezuelan Life Insurance - Commission Paid to Brokers (VEF Million), 2009-2013
Table 130: Venezuelan Life Insurance - Commission Paid to Brokers (VEF Million), 2013-2018
Table 131: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Billion), 2009-2013
Table 132: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2013-2018
Table 133: Venezuelan Life Insurance - New Policies Sold Through Brokers (Thousand), 2009-2013
Table 134: Venezuelan Life Insurance - New Policies Sold Through Brokers (Thousand), 2013-2018
Table 135: Venezuelan Life Insurance - Number of Brokers, 2009-2013
Table 136: Venezuelan Life Insurance - Number of Brokers, 2013-2018
Table 137: Venezuelan Life Insurance - Commission Paid to Other Channels (VEF Million), 2009-2013
Table 138: Venezuelan Life Insurance - Commission Paid to Other Channels (VEF Million), 2013-2018
Table 139: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Table 140: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2013-2018
Table 141: Venezuelan Life Insurance - New Policies Sold Through Other Channels (Thousand), 2009-2013
Table 142: Venezuelan Life Insurance - New Policies Sold Through Other Channels (Thousand), 2013-2018
Table 143: Venezuelan Life Insurance - Number of Distributors in Other Channels, 2009-2013
Table 144: Venezuelan Life Insurance - Number of Distributors in Other Channels, 2013-2018
Table 145: Venezuela - Life Insurance Regulatory Framework
Table 146: Venezuela - Property Insurance Regulatory Framework
Table 147: Venezuela - Motor Insurance Regulatory Framework
Table 148: Venezuela - Liability Insurance Regulatory Framework
Table 149: Venezuela - Corporate Tax Rates for the Financial Year 2015
Table 150: Shares of Key Insurers in the Venezuelan Life Insurance Segment (%), 2013
Table 151: Seguros Horizonte, SA, Key Facts
Table 152: Seguros Horizonte, SA, Key Financials (VEF Million), 2009-2012
Table 153: Zurich Seguros, SA, Key Facts
Table 154: Zurich Seguros, SA, Key Financials (VEF Million), 2009-2012
Table 155: La Fe Previsora Compañia de Seguros SA, Key Facts
Table 156: La Fe Previsora Compañia de Seguros SA, Key Financials (VEF Million), 2009-2012
Table 157: Banesco Seguros, CA, Key Facts
Table 158: Banesco Seguros, CA, Key Financials (VEF Million), 2009-2012
Table 159: Mercantil Seguros CA, Key Facts
Table 160: Mercantil Seguros CA, Key Financials (VEF Million), 2009-2012
Table 161: Seguros Provincial, CA, Key Facts
Table 162: Seguros Provincial, CA, Key Financials (VEF Million), 2009-2012
Table 163: Mapfre La Seguridad, CA de Seguros, Key Facts
Table 164: Mapfre La Seguridad, CA de Seguros, Key Financials (VEF Million), 2009-2012
Table 165: CNA de Seguros La Previsora, Key Facts
Table 166: CNA de Seguros La Previsora, Key Financials (VEF Million), 2009-2012
Table 167: CA de Seguros La Occidental, Key Facts
Table 168: CA de Seguros La Occidental, Key Financials (VEF Million), 2009-2012
Table 169: Seguros Caracas de Liberty Mutual, Key Facts
Table 170: Seguros Caracas de Liberty Mutual, Key Financials (VEF Million), 2009-2012

List of Figures
Figure 1: Venezuelan Insurance Industry - Gross Written Premium by Segment (VEF Billion), 2009-2018
Figure 2: Venezuelan Insurance Industry - Gross Written Premium Dynamics by Segment (2009-2018)
Figure 3: Venezuelan Insurance Industry - Direct Written Premium by Segment (VEF Billion), 2009-2018
Figure 4: Venezuelan Insurance Industry - Direct Written Premium Dynamics by Segment (2009-2018)
Figure 5: Venezuelan Life Insurance - Number of Active Policies and Gross Written Premium (Percentage Share), 2013
Figure 6: Venezuelan GDP at Current Prices (US$ Billion), 2010-2014
Figure 7: Venezuelan Population Distribution by Age Group (%), 2009-2013
Figure 8: Venezuelan Life Insurance - Gross Written Premium by Category (VEF Million), 2009-2018
Figure 9: Venezuelan Life Insurance - Gross Written Premium by Category (Percentage Share), 2013 and 2018
Figure 10: Venezuelan Life Insurance - Gross Written Premium Dynamics by Segment (2009-2018)
Figure 11: Venezuelan Life Insurance - New Business Written Premium (VEF Million), 2009-2013
Figure 12: Venezuelan Life Insurance - New Business Written Premium (VEF Billion), 2013-2018
Figure 13: Venezuelan Life Insurance - Earned Premium (VEF Billion), 2009-2013
Figure 14: Venezuelan Life Insurance - Earned Premium (VEF Billion), 2013-2018
Figure 15: Venezuelan Life Insurance - Sum Assured (VEF Billion), 2009-2013
Figure 16: Venezuelan Life Insurance - Sum Assured (VEF Billion), 2013-2018
Figure 17: Venezuelan Life Insurance - Paid Claims (VEF Million), 2009-2013
Figure 18: Venezuelan Life Insurance - Paid Claims (VEF Billion), 2013-2018
Figure 19: Venezuelan Life Insurance - Incurred Loss (VEF Million), 2009-2013
Figure 20: Venezuelan Life Insurance - Incurred Loss (VEF Billion), 2013-2018
Figure 21: Venezuelan Life Insurance - Loss Ratio (%), 2009-2013
Figure 22: Venezuelan Life Insurance - Loss Ratio (%), 2013-2018
Figure 23: Venezuelan Life Insurance - Commissions and Expenses (VEF Million), 2009-2013
Figure 24: Venezuelan Life Insurance - Commissions and Expenses (VEF Billion), 2013-2018
Figure 25: Venezuelan Life Insurance - Combined Ratio (%), 2009-2013
Figure 26: Venezuelan Life Insurance - Combined Ratio (%), 2013-2018
Figure 27: Venezuelan Life Insurance - Fraud and Crimes (VEF Million), 2009-2013
Figure 28: Venezuelan Life Insurance - Fraud and Crimes (VEF Million), 2013-2018
Figure 29: Venezuelan Life Insurance - Total Assets (VEF Billion), 2009-2013
Figure 30: Venezuelan Life Insurance - Total Assets (VEF Billion), 2013-2018
Figure 31: Venezuelan Life Insurance - Total Investment Income (VEF Million), 2009-2013
Figure 32: Venezuelan Life Insurance - Total Investment Income (VEF Million), 2013-2018
Figure 33: Venezuelan Life Insurance - Retentions (VEF Billion), 2009-2013
Figure 34: Venezuelan Life Insurance - Retentions (VEF Billion), 2013-2018
Figure 35: Venezuelan Life Insurance - Investment Portfolio (VEF Billion), 2009-2013
Figure 36: Venezuelan Life Insurance - Investment Portfolio, 2009 and 2013
Figure 37: Venezuelan Life Insurance - Penetration (%), 2009-2013
Figure 38: Venezuelan Life Insurance - Density (Number of Policies per Capita), 2009-2013
Figure 39: Venezuelan Life Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 40: Venezuelan Life Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 41: Venezuelan Life Insurance - Number of New Policies Sold (Thousand), 2009-2013
Figure 42: Venezuelan Life Insurance - Number of New Policies Sold (Thousand), 2013-2018
Figure 43: Venezuelan Life Insurance - Premium Per Capita (VEF), 2009-2013
Figure 44: Venezuelan Individual Life Insurance - Gross Written Premium by Category (VEF Million), 2009-2018
Figure 45: Venezuelan Individual Life Insurance - Gross Written Premium by Category (Percentage Share), 2013 and 2018
Figure 46: Venezuelan Individual Life Insurance - Gross Written Premium Dynamics by Category, 2009-2018
Figure 47: Venezuelan Individual Life Insurance - Direct Written Premium by Category (VEF Million), 2009-2018
Figure 48: Venezuelan Individual Life Insurance - Direct Written Premium by Category (Percentage Share), 2013 and 2018
Figure 49: Venezuelan Individual Life Insurance - Direct Written Premium Dynamics by Category, 2009-2018
Figure 50: Venezuelan Individual Life Insurance - Policies by Category (Thousand), 2009-2018
Figure 51: Venezuelan Individual Life Insurance - Policies by Category (Percentage Share), 2013 and 2018
Figure 52: Venezuelan Individual Life Insurance - Policies Dynamics by Category, 2009-2018
Figure 53: Venezuelan Individual Whole Life Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 54: Venezuelan Individual Whole Life Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 55: Venezuelan Individual Whole Life Insurance - Gross Written Premium (VEF Million), 2009-2013
Figure 56: Venezuelan Individual Whole Life Insurance - Gross Written Premium (VEF Billion), 2013-2018
Figure 57: Venezuelan Individual General Annuity Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 58: Venezuelan Individual General Annuity Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 59: Venezuelan Individual General Annuity Insurance - Gross Written Premium (VEF Million), 2009-2013
Figure 60: Venezuelan Individual General Annuity Insurance - Gross Written Premium (VEF Million), 2013-2018
Figure 61: Venezuelan Other Individual Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 62: Venezuelan Other Individual Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 63: Venezuelan Other Individual Insurance - Gross Written Premium (VEF Billion), 2009-2013
Figure 64: Venezuelan Other Individual Insurance - Gross Written Premium (VEF Billion), 2013-2018
Figure 65: Venezuelan Group Whole Life Insurance - Gross Written Premium (VEF Billion), 2009-2013
Figure 66: Venezuelan Group Whole Life Insurance - Gross Written Premium (VEF Billion), 2013-2018
Figure 67: Venezuelan Group Whole Life Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 68: Venezuelan Group Whole Life Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 69: Venezuelan Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 70: Venezuelan Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 71: Venezuelan Individual Single-Premium Insurance - Gross Written Premium (VEF Billion), 2009-2013
Figure 72: Venezuelan Individual Single-Premium Insurance - Gross Written Premium (VEF Billion), 2013-2018
Figure 73: Venezuelan Individual Single-Premium Insurance - Direct Written Premium (VEF Billion), 2009-2013
Figure 74: Venezuelan Individual Single-Premium Insurance - Direct Written Premium (VEF Billion), 2013-2018
Figure 75: Venezuelan Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 76: Venezuelan Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 77: Venezuelan Individual Non-Single-Premium Insurance - Gross Written Premium (VEF Billion), 2009-2013
Figure 78: Venezuelan Individual Non-Single-Premium Insurance - Gross Written Premium (VEF Billion), 2013-2018
Figure 79: Venezuelan Individual Non-Single-Premium Insurance - Direct Written Premium (VEF Billion), 2009-2013
Figure 80: Venezuelan Individual Non-Single-Premium Insurance - Direct Written Premium (VEF Billion), 2013-2018
Figure 81: Venezuelan Group Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 82: Venezuelan Group Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 83: Venezuelan Group Single-Premium Insurance - Gross Written Premium (VEF Million), 2009-2013
Figure 84: Venezuelan Group Single-Premium Insurance - Gross Written Premium (VEF Million), 2013-2018
Figure 85: Venezuelan Group Single-Premium Insurance - Direct Written Premium (VEF Million), 2009-2013
Figure 86: Venezuelan Group Single-Premium Insurance - Direct Written Premium (VEF Million), 2013-2018
Figure 87: Venezuelan Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 88: Venezuelan Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 89: Venezuelan Group Non-Single-Premium Insurance - Gross Written Premium (VEF Billion), 2009-2013
Figure 90: Venezuelan Group Non-Single-Premium Insurance - Gross Written Premium (VEF Billion), 2013-2018
Figure 91: Venezuelan Group Non-Single-Premium Insurance - Direct Written Premium (VEF Million), 2009-2013
Figure 92: Venezuelan Group Non-Single-Premium Insurance - Direct Written Premium (VEF Billion), 2013-2018
Figure 93: Venezuelan Non-Linked Insurance Business - Number of Active Policies (Thousand), 2009-2013
Figure 94: Venezuelan Non-Linked Insurance Business - Number of Active Policies (Thousand), 2013-2018
Figure 95: Venezuelan Non-Linked Insurance Business - Gross Written Premium (VEF Billion), 2009-2013
Figure 96: Venezuelan Non-Linked Insurance Business - Gross Written Premium (VEF Billion), 2013-2018
Figure 97: Venezuelan Non-Linked Insurance Business - Direct Written Premium (VEF Billion), 2009-2013
Figure 98: Venezuelan Non-Linked Insurance Business - Direct Written Premium (VEF Billion), 2013-2018
Figure 99: Venezuelan Life Insurance - New Business Gross Written Premium by Distribution Channel (Percentage Share), 2013 and 2018
Figure 100: Venezuelan Life Insurance - Direct Marketing Commission Paid (VEF Million), 2009-2013
Figure 101: Venezuelan Life Insurance - Direct Marketing Commission Paid (VEF Million), 2013-2018
Figure 102: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Figure 103: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2013-2018
Figure 104: Venezuelan Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2009-2013
Figure 105: Venezuelan Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2013-2018
Figure 106: Venezuelan Life Insurance - Number of Direct Marketing Distributors, 2009-2013
Figure 107: Venezuelan Life Insurance - Number of Direct Marketing Distributors, 2013-2018
Figure 108: Venezuelan Life Insurance - Bancassurance Commission Paid (VEF Million), 2009-2013
Figure 109: Venezuelan Life Insurance - Bancassurance Commission Paid (VEF Million), 2013-2018
Figure 110: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Figure 111: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2013-2018
Figure 112: Venezuelan Life Insurance - New Policies Sold Through Bancassurance (Thousand), 2009-2013
Figure 113: Venezuelan Life Insurance - New Policies Sold Through Bancassurance (Thousand), 2013-2018
Figure 114: Venezuelan Life Insurance - Number of Bancassurance Distributors, 2009-2013
Figure 115: Venezuelan Life Insurance - Number of Bancassurance Distributors, 2013-2018
Figure 116: Venezuelan Life Insurance - Commission Paid to Agencies (VEF Million), 2009-2013
Figure 117: Venezuelan Life Insurance - Commission Paid to Agencies (VEF Million), 2013-2018
Figure 118: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Figure 119: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Billion), 2013-2018
Figure 120: Venezuelan Life Insurance - New Policies Sold Through Agencies (Thousand), 2009-2013
Figure 121: Venezuelan Life Insurance - New Policies Sold Through Agencies (Thousand), 2013-2018
Figure 122: Venezuelan Life Insurance - Number of Agencies, 2009-2013
Figure 123: Venezuelan Life Insurance - Number of Agencies, 2013-2018
Figure 124: Venezuelan Life Insurance - E-Commerce Commission Paid (VEF), 2009-2013
Figure 125: Venezuelan Life Insurance - E-Commerce Commission Paid (VEF Million), 2013-2018
Figure 126: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Figure 127: Venezuelan Life Insurance - Gross Written Premium New Business (VEF Million), 2013-2018
Figure 128: Venezuelan Life Insurance - New Policies Sold Through E-Commerce (Thousand), 2009-2013
Figure 129: Venezuelan Life Insurance - New Policies Sold Through E-Commerce (Thousand), 2013-2018
Figure 130: Venezuelan Life Insurance - Number of E-Commerce Distributors, 2009-2013
Figure 131: Venezuelan Life Insurance - Number of E-Commerce Distributors, 2013-2018
Figure 132: Venezuelan Life Insurance - Commission Paid to Brokers (VEF Million), 2009-2013
Figure 133: Venezuelan Life Insurance - Commission Paid to Brokers (VEF Million), 2013-2018
Figure 134: Venezuelan Life Insurance - New Business Gross Written Premium (VEF Million), 2009-2013
Figure 135: Venezuelan Life Insuranc

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