“The Insurance Industry in Honduras, Key Trends and Opportunities to 2018 “

Date: 2015-09

The Honduran economy is currently recovering from the 2008 global financial crisis, which hampered the overall development of the countryโ€™s insurance industry. Political crises in the country were a major concern during 2009 and 2010, particularly those concerning plans to rewrite the countryโ€™s constitution. Despite this, growth in the tourism sector, recovery in the US economy and an increase in exports, public investments and higher remittances all contributed to the recovery of the countryโ€™s economy during the review period (2009โ€“2010). Honduras is the third-largest exporter of textiles to the US, after China and Mexico, with textiles constituting more than half of the countryโ€™s exports in 2013. The Honduran insurance industry grew at a review-period CAGR of 8.8%. The growth in the industry was partially due to the strong performance of the life insurance segment, as well as personal accident and health insurance.


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