Guatemalan Insurance Industry was Served by 27 Insurers in 2013

Date: 2015-09-17

“• Guatemala is the most populous country in Central America

• The Guatemalan insurance industry is projected to grow at a forecast-period (2013–2018) CAGR of 9.5%

• Growth in the real-estate market and the country’s exposure to catastrophic risk supported the non-life segment’s growth during the review period, resulting in an increase in written premium at a CAGR of 9.1%

• Insurance penetration in Guatemala is low compared to other Central American countries

• According to 2013 World Bank Statistics, Guatemala is the poorest country in Central America, with over 40% of the population living on an income of GTQ11.9 (US$1.5) per day in 2012

• Guatemala has one of the highest crime rates in Central America, and has been rated ‘critical’ by the US Department of State

• As of 2013, the Guatemalan insurance industry was served by 27 insurers”

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