The Insurance Industry in Ecuador, Key Trends and Opportunities to 2017

Date: 2015-09

The Ecuadorian insurance industry is one of the fastest-growing insurance industries in Latin America in terms of gross written premium. It held a market share of 0.9% of the Latin American total premium in 2012, growing from US$883.8 million in 2008 to US$1.5 billion in 2012, at a compound annual growth rate (CAGR) of 14.4% during the review period (2008–2012). Growth in the industry was due to the government’s large-scale infrastructure development, economic recovery following the global financial crisis, regulatory changes and increased merger and acquisition activity. These factors are expected to remain buoyant and continue to support the industry over the forecast period (2012–2017) when it is projected to grow at a CAGR of 12.9%.

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