Research and Markets Adds Report: The Insurance Industry in Nicaragua, Key Trends and Opportunities to 2017 [Health & Beauty Close – Up]

Research and Markets has announced the addition of the "The Insurance Industry in Nicaragua, Key Trends and Opportunities to 2017" report to its offerings.

In a release, Research and Markets noted that report highlights include:

The Nicaraguan insurance industry is still in its developmental stages. There are a total of five insurance companies in Nicaragua: four private and one public limited company.

The industry is therefore highly concentrated, with the two- leading insurers accounting for a collective market share of 56.2 percent in 2012. Nicaragua is the poorest country in Central America and half of the population lives below poverty line.

The combination of a significantly large rural population, high levels of poverty and a low literacy rate is hindering the growth of the nation's insurance industry. The industry's main growth driver is the non-life segment. Export and tourism growth will support the sales in the insurance industry over the forecast period.

Key Highlights

- The non-life insurance segment accounted for the largest share of the total insurance written premium value in 2012

- Non-life is the largest insurance segment in Nicaragua

- Medical tourism has been highlighted as a growth driver for Nicaragua

- Income earned through exports plays an important role in promoting the Nicaraguan economy. In 2012, export figures grew by 17.5 percent to hit US$2.8 billion of which coffee accounted for US$519 million of the total

- The Nicaraguan insurance industry is regulated by the Superintendence of Banks and Other Financial Institutions (SIBOIF)

Companies Mentioned

- America Seguros SA

- Assa Insurance Company, SA

- Lafise Seguros, SA

- Mapfre Insurance Nicaragua, SA

- Nicaraguan Institute of Insurance and Reinsurance

Report information:

http://www.researchandmarkets.com/research/pvwh9g/the_insurance

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