1. Non-Life Insurance in Venezuela, Key Trends and Opportunities
to 2016
Report Details:
Published:November 2012
No. of Pages: 246
Price: Single User License – US$1950
Synopsis
The report provides in depth market analysis, information and insights into the Venezuelan non-life
insurance market, including:
• The Venezuelan non-life insurance market’s growth prospects by non-life insurance categories
• The various distribution channels in the Venezuelan non-life insurance market
• The competitive landscape in the non-life insurance market in Venezuela
• A description of the non-life reinsurance market in Venezuela
Summary
The non-life segment is considered to be one of the most highly regulated and concentrated in the
Venezuelan insurance industry. It is the largest segment, representing a market share of 48.7% in
terms of gross written premium in 2011. In terms of gross written premium in 2011, the
Venezuelan non-life segment was led by motor insurance with a 72% market share, followed by
property insurance with 20.9%. The growth in automobile sales, the rising property market and
high inflation in the country supported the growth of the non-life segment during the review period
and is expected to continue to do so over the forecast period. Compulsory third-party motor liability
insurance also supported the growth of non-life insurance during the review period and both motor
and property insurance are expected to retain their shares over the forecast period.
Scope
This report provides a comprehensive analysis of the non-life insurance market in Venezuela:
• It provides historical values for Venezuela’s non-life insurance market for the report’s 2007–2011
review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key sub-segments in Venezuela’s non-life insurance market,
along with market forecasts until 2016
• 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 non-life insurance products in Venezuela

2. • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in
Venezuela for the non-life insurance business
• It provides a detailed analysis of the reinsurance market in Venezuela and its growth prospects
• It profiles the top non-life insurance companies in Venezuela and outlines the key regulations
affecting them
Reasons To Buy
• Make strategic business decisions using historic and forecast market data related to the
Venezuelan non-life insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the
Venezuelan non-life insurance market
• Assess the competitive dynamics in the non-life insurance market, along with the reinsurance
segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Venezuelan insurance market and its impact on
companies and the market''s future
Key Highlights
• The non-life segment is considered to be one of the most highly regulated and concentrated in
the Venezuelan insurance industry.
• It is the largest segment, representing a market share of 48.7% in terms of gross written
premium in 2011.
• In terms of gross written premium in 2011, the Venezuelan non-life segment was led by motor
insurance with a 72% market share, followed by property insurance with 20.9%.
• The growth in automobile sales, the rising property market and high inflation in the country
supported the growth of the non-life segment during the review period, and is expected to continue
to do so over the forecast period.
• Compulsory third-party motor liability insurance also supported the growth of non-life insurance
during the review period, and both motor and property insurance are expected to retain their
shares over the forecast period.
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2016.html
Major points covered in Table of Contents of this report include
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Venezuelan Insurance Industry Attractiveness
3.1 Insurance Industry Market Size, 2007–2016

3. 3.2 Key Industry Trends and Drivers
3.2.1 Business drivers
3.2.2 Consumer drivers
4 Non-Life Insurance Segment Outlook
4.1 Non-Life Insurance Growth Prospects by Category
4.1.1 Property insurance
4.1.2 Fire and allied perils insurance
4.1.3 Engineering insurance
4.1.4 Agriculture insurance
4.1.5 Other property insurance
4.2 Motor Insurance
4.2.1 Motor hull insurance
4.2.2 Motor third-party insurance
4.3 General Third-Party Insurance
4.4 Marine, Aviation and Transit Insurance
4.4.1 Marine insurance
4.4.2 Marine hull insurance
4.4.3 Marine third-party insurance
4.4.4 Aviation insurance
4.4.5 Transit insurance
5 Analysis by Distribution Channel
5.1 Direct Marketing
5.2 Bancassurance
5.3 Agencies
5.4 E-Commerce
5.5 Brokers
5.6 Other Channels
6 Regulatory Policies
7 Porter’s Five Forces Analysis – Venezuelan Non-Life Insurance
7.1 Bargaining Power of Supplier: Medium
7.2 Bargaining Power of Buyer: Low to Medium
7.3 Barriers to Entry: High
7.4 Intensity of Rivalry: High
7.5 Threat of Substitutes: Low
8 Reinsurance Growth Dynamics and Challenges
8.1 Reinsurance segment size, 2007–2016
8.2 Reinsurance Segment Size by Insurance Segment, 2007–2016
9 Competitive Landscape and Strategic Insights
9.1 Overview
9.2 Leading Companies in the Venezuelan Non-Life Insurance Segment
9.3 Seguros Caracas – Company Overview
9.3.1 Seguros Caracas de Liberty Mutual CA – key facts

4. 9.4 Seguros Mercantil CA – Company Overview
9.4.1 Seguros Mercantil CA – key facts
9.5 Mapfre La Seguridad, CA – Company Overview
9.5.1 Mapfre La Seguridad, CA – key facts
9.6 Zurich Seguros, SA – Company Overview
9.6.1 Zurich Seguros, SA – key facts
9.7 Estar Seguros, SA – Company Overview
9.7.1 Estar Seguros, SA – key facts
9.8 Banesco Seguros CA – Company Overview
9.8.1 Banesco Seguros CA – Key Facts
10 Business Environment and Country Risk
10.1 Business Confidence
10.1.1 Market capitalization trend – Venezuela Stock Market (IBVC)
10.2 Economic Performance
10.2.1 GDP at constant prices (US$)
10.2.2 GDP per capita at constant prices (US$)
10.2.3 GDP at current prices (US$)
10.2.4 GDP per capita at current prices (US$)
10.2.5 GDP by key segments
10.2.6 Manufacturing net output at current prices (VEF)
10.2.7 Manufacturing net output at current prices (US$)
10.2.8 Manufacturing net output at current prices as a percentage of GDP
10.2.9 Mining, manufacturing and utilities net output at current prices (VEF)
10.2.10 Mining, manufacturing and utilities at current prices (US$)
10.2.11 Mining, manufacturing and utilities at current prices, as a percentage of GDP
10.2.12 Construction net output at current prices (VEF)
10.2.13 Construction net output at current prices, (US$)
10.2.14 Construction net output at current prices as a percentage of GDP
10.2.15 Inflation rate
10.2.16 Current account balance as a percentage of GDP
10.2.17 Exports as a percentage of GDP
10.2.18 Imports as a percentage of GDP
10.2.19 Exports growth
10.2.20 Imports growth
10.2.21 External debt
10.2.22 Annual average exchange rate US$–VEF
10.2.23 End-of-period exchange rate US$–VEF
10.3 Infrastructure Quality and Availability
10.3.1 Total airports and sea ports
10.3.2 Railways and roadways
10.3.3 Passenger vehicle production volume
10.3.4 Commercial vehicle production volume

5. 10.3.5 Automotive component exports trend
10.3.6 Automotive component imports trend
10.3.7 Passenger car penetration
10.3.8 Healthcare expenditure
10.3.9 Healthcare expenditure as a percentage of GDP
10.3.10 Healthcare expenditure per capita
10.3.11 Total internet subscribers
10.4 Labor Force
10.4.1 Labor force
10.4.2 Unemployment rate
10.5 Demographics
10.5.1 Annual disposable income
10.5.2 Annual per capita disposable income
10.5.3 Total population
10.5.4 Urban and rural population
10.5.5 Female percentage of the population
10.5.6 Male percentage of the population
10.5.7 Mean age of the population
10.5.8 Median age of the population
10.5.9 Population density
10.5.10 Age distribution of the total population
10.5.11 Age distribution of the male population
10.5.12 Age distribution of the female population
10.5.13 Number of households
10.6 Political and Social Risk
10.6.1 Political stability
10.6.2 Terrorism index
10.6.3 Transparency index
11 Appendix
11.1 Methodology
11.2 Contact Us
11.3 About Timetric
11.4 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Venezuelan Insurance – Overall Written Premium by Segment (VEF Billion), 2007–2011
Table 3: Venezuelan Insurance – Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: Venezuelan Insurance – Overall Written Premium by Segment (VEF Billion), 2011–2016
Table 5: Venezuelan Insurance – Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: Venezuelan Insurance – Segmentation (% Share), 2007–2016
Table 7: Venezuelan Non-Life Insurance – Written Premium by Category (VEF Billion), 2007–2011

6. Table 8: Venezuelan Non-Life Insurance – Written Premium by Category (US$ Billion), 2007–2011
Table 9: Venezuelan Non-Life Insurance – Written Premium by Category (VEF Billion), 2011–2016
Table 10: Venezuelan Non-Life Insurance – Written Premium by Category (US$ Billion),
2011–2016
Table 11: Venezuelan Non-Life Insurance – Earned Premium (VEF Billion), 2007–2011
Table 12: Venezuelan Non-Life Insurance – Earned Premium (VEF Billion), 2011–2016
Table 13: Venezuelan Non-Life Insurance – Paid Claims by Category (VEF Billion), 2007–2011
Table 14: Venezuelan Non-Life Insurance – Paid Claims by Category (US$ Billion), 2007–2011
Table 15: Venezuelan Non-Life Insurance – Paid Claims by Category (VEF Billion), 2011–2016
Table 16: Venezuelan Non-Life Insurance – Paid Claims by Category (US$ Billion), 2011–2016
Table 17: Venezuelan Non-Life Insurance – Incurred Loss by Category (VEF Billion), 2007–2011
Table 18: Venezuelan Non-Life Insurance – Incurred Loss by Category (US$ Billion), 2007–2011
Table 19: Venezuelan Non-Life Insurance – Incurred Loss by Category (VEF Billion), 2011–2016
Table 20: Venezuelan Non-Life Insurance – Incurred Loss by Category (US$ Billion), 2011–2016
Table 21: Venezuelan Non-Life Insurance – Loss Ratio (%), 2007–2011
Table 22: Venezuelan Non-Life Insurance – Loss Ratio (%), 2011–2016
Table 23: Venezuelan Non-Life Insurance – Commission and Expenses (VEF Billion), 2007–2011
Table 24: Venezuelan Non-Life Insurance – Commission and Expenses (VEF Billion), 2011–2016
Table 25: Venezuelan Non-Life Insurance – Combined Ratio (%), 2007–2011
Table 26: Venezuelan Non-Life Insurance – Combined Ratio (%), 2011–2016
Table 27: Venezuelan Non-Life Insurance – Frauds and Crimes (VEF Billion), 2007–2011
Table 28: Venezuelan Non-Life Insurance – Frauds and Crimes (VEF Billion), 2011–2016
Table 29: Venezuelan Non-Life Insurance – Total Assets (VEF Billion), 2007–2011
Table 30: Venezuelan Non-Life Insurance – Total Assets (VEF Billion), 2011–2016
Table 31: Venezuelan Non-Life Insurance – Total Investment Income (VEF Billion), 2007–2011
Table 32: Venezuelan Non-Life Insurance – Total Investment Income (VEF Billion), 2011–2016
Table 33: Venezuelan Non-Life Insurance – Retentions (VEF Billion), 2007–2011
Table 34: Venezuelan Non-Life Insurance – Retentions (VEF Billion), 2011–2016
Table 35: Venezuelan Property Insurance – Written Premium by Sub-Category (VEF Billion),
2007–2011
Table 36: Venezuelan Property Insurance – Written Premium by Sub-Category (US$ Billion),
2007–2011
Table 37: Venezuelan Property Insurance – Written Premium by Sub-Category (VEF Billion),
2011–2016
Table 38: Venezuelan Property Insurance – Written Premium by Sub-Category (US$ Billion),
2011–2016
Table 39: Venezuelan Property Insurance – Loss Ratio (%), 2007–2011
Table 40: Venezuelan Property Insurance – Loss Ratio (%), 2011–2016
Table 41: Venezuelan Fire and Allied Perils Insurance – Number of Policies Sold (Thousand),
2007–2011
Table 42: Venezuelan Fire and Allied Perils Insurance – Number of Policies Sold (Thousand),
2011–2016

7. Table 43: Venezuelan Fire and Allied Perils Insurance – Written Premium (VEF Billion),
2007–2011
Table 44: Venezuelan Fire and Allied Perils Insurance – Written Premium (VEF Billion),
2011–2016
Table 45: Venezuelan Engineering Insurance – Number of Policies Sold (Thousand), 2007–2011
Table 46: Venezuelan Engineering Insurance – Number of Policies Sold (Thousand), 2011–2016
Table 47: Venezuelan Engineering Insurance – Written Premium (VEF Billion), 2007–2011
Table 48: Venezuelan Engineering Insurance – Written Premium (VEF Billion), 2011–2016
Table 49: Venezuelan Agriculture Insurance – Number of Policies Sold (Thousand), 2007–2011
Table 50: Venezuelan Agriculture Insurance – Number of Policies Sold (Thousand), 2011–2016
Table 51: Venezuelan Agriculture Insurance – Written Premium (VEF Billion), 2007–2011
Table 52: Venezuelan Agriculture Insurance – Written Premium (VEF Billion), 2011–2016
Table 53: Venezuelan Other Property Insurance – Number of Policies Sold (Thousand),
2007–2011
Table 54: Venezuelan Other Property Insurance – Number of Policies Sold (Thousand),
2011–2016
Table 55: Venezuelan Other Property Insurance – Written Premium (VEF Billion), 2007–2011
Table 56: Venezuelan Other Property Insurance – Written Premium (VEF Billion), 2011–2016
Table 57: Venezuelan Motor Insurance – Written Premium by Sub-Category (VEF Billion),
2007–2011
Table 58: Venezuelan Motor Insurance – Written Premium by Sub-Category (US$ Billion),
2007–2011
Table 59: Venezuelan Motor Insurance – Written Premium by Sub-Category (VEF Billion),
2011–2016
Table 60: Venezuelan Motor Insurance – Written Premium by Sub-Category (US$ Billion),
2011–2016
Table 61: Venezuelan Motor Insurance – Loss Ratio (%), 2007–2011
Table 62: Venezuelan Motor Insurance – Loss Ratio (%), 2011–2016
Table 63: Venezuelan Motor Hull Insurance – Number of Policies Sold (Thousand), 2007–2011
Table 64: Venezuelan Motor Hull Insurance – Number of Policies Sold (Thousand), 2011–2016
Table 65: Venezuelan Motor Hull Insurance – Written Premium (VEF Billion), 2007–2011
Table 66: Venezuelan Motor Hull Insurance – Written Premium (VEF Billion), 2011–2016
Table 67: Venezuelan Motor Third-Party Insurance – Number of Policies Sold (Thousand),
2007–2011
Table 68: Venezuelan Motor Third-Party Insurance – Number of Policies Sold (Thousand),
2011–2016
Table 69: Venezuelan Motor Third-Party Insurance – Written Premium (VEF Billion), 2007–2011
Table 70: Venezuelan Motor Third-Party Insurance – Written Premium (VEF Billion), 2011–2016
Table 71: Venezuelan General Third-Party Insurance – Number of Policies Sold (Thousand),
2007–2011
Table 72: Venezuelan General Third-Party Insurance – Number of Policies Sold (Thousand),
2011–2016

8. Table 73: Venezuelan General Third-Party Insurance – Written Premium (VEF Billion), 2007–2011
Table 74: Venezuelan General Third-Party Insurance – Written Premium (VEF Billion), 2011–2016
Table 75: Venezuelan General Third-Party Insurance – Loss Ratio (%), 2007–2011
Table 76: Venezuelan General Third-Party Insurance – Loss Ratio (%), 2011–2016
Table 77: Venezuelan Marine, Aviation and Transit Insurance – Written Premium by Sub-Category
(VEF Billion), 2007–2011
Table 78: Venezuelan Marine, Aviation and Transit Insurance – Written Premium by Sub-Category
(US$ Billion), 2007–2011
Table 79: Venezuelan Marine, Aviation and Transit Insurance – Written Premium by Sub-Category
(VEF Billion), 2011–2016
Table 80: Venezuelan Marine, Aviation and Transit Insurance – Written Premium by Sub-Category
(US$ Billion), 2011–2016
Table 81: Venezuelan Marine, Aviation and Transit Insurance – Loss Ratio (%), 2007–2011
Table 82: Venezuelan Marine, Aviation and Transit Insurance – Loss Ratio (%), 2011–2016
Table 83: Venezuelan Marine Insurance – Written Premium by Product Type (VEF Million),
2007–2011
Table 84: Venezuelan Marine Insurance – Written Premium by Product Type (US$ Million),
2007–2011
Table 85: Venezuelan Marine Insurance – Written Premium by Product Type (VEF Million),
2011–2016
Table 86: Venezuelan Marine Insurance – Written Premium by Product Type (US$ Million),
2011–2016
Table 87: Venezuelan Marine Hull Insurance – Number of Policies Sold (Thousand), 2007–2011
Table 88: Venezuelan Marine Hull Insurance – Number of Policies Sold (Thousand), 2011–2016
Table 89: Venezuelan Marine Hull Insurance – Written Premium (VEF Billion), 2007–2011
Table 90: Venezuelan Marine Hull Insurance – Written Premium (VEF Billion), 2011–2016
Table 91: Venezuelan Marine Third-Party Insurance – Number of Policies Sold (Thousand),
2007–2011
Table 92: Venezuelan Marine Third-Party Insurance – Number of Policies Sold (Thousand),
2011–2016
Table 93: Venezuelan Marine Third-Party Insurance – Written Premium (VEF Billion), 2007–2011
Table 94: Venezuelan Marine Third-Party Insurance – Written Premium (VEF Billion), 2011–2016
Table 95: Venezuelan Aviation Insurance – Number of Policies Sold (Thousand), 2007–2011
Table 96: Venezuelan Aviation Insurance – Number of Policies Sold (Thousand), 2011–2016
Table 97: Venezuelan Aviation Insurance – Written Premium (VEF Billion), 2007–2011
Table 98: Venezuelan Aviation Insurance – Written Premium (VEF Billion), 2011–2016
Table 99: Venezuelan Transit Insurance – Number of Policies Sold (Thousand), 2007–2011
Table 100: Venezuelan Transit Insurance – Number of Policies Sold (Thousand), 2011–2016
Table 101: Venezuelan Transit Insurance – Written Premium (VEF Billion), 2007–2011
Table 102: Venezuelan Transit Insurance – Written Premium (VEF Billion), 2011–2016
Table 103: Venezuelan Non-Life Insurance – Direct Marketing Commission Paid (VEF Billion),
2007–2011

9. Table 104: Venezuelan Non-Life Insurance – Direct Marketing Commission Paid (VEF Billion),
2011–2016
Table 105: Venezuelan Non-Life Insurance – Written Premium Through Direct Marketing (VEF
Billion), 2007–2011
Table 106: Venezuelan Non-Life Insurance – Written Premium Through Direct Marketing (VEF
Billion), 2011–2016
Table 107: Venezuelan Non-Life Insurance – Policies Sold Through Direct Marketing (Thousand),
2007–2011
Table 108: Venezuelan Non-Life Insurance – Policies Sold Through Direct Marketing (Thousand),
2011–2016
Table 109: Venezuelan Non-Life Insurance – Number of Direct Marketing Distributors, 2007–2011
Table 110: Venezuelan Non-Life Insurance – Number of Direct Marketing Distributors, 2011–2016
Table 111: Venezuelan Non-Life Insurance – Bancassurance Commission Paid (VEF Billion),
2007–2011
Table 112: Venezuelan Non-Life Insurance – Bancassurance Commission Paid (VEF Billion),
2011–2016
Table 113: Venezuelan Non-Life Insurance – Written Premium Through Bancassurance (VEF
Billion), 2007–2011
Table 114: Venezuelan Non-Life Insurance – Written Premium Through Bancassurance (VEF
Billion), 2011–2016
Table 115: Venezuelan Non-Life Insurance – Policies Sold Through Bancassurance (Thousand),
2007–2011
Table 116: Venezuelan Non-Life Insurance – Policies Sold Through Bancassurance (Thousand),
2011–2016
Table 117: Venezuelan Non-Life Insurance – Number of Bancassurance Distributors, 2007–2011
Table 118: Venezuelan Non-Life Insurance – Number of Bancassurance Distributors, 2011–2016
Table 119: Venezuelan Non-Life Insurance – Commission Paid to Agencies (VEF Billion),
2007–2011
Table 120: Venezuelan Non-Life Insurance – Commission Paid to Agencies (VEF Billion),
2011–2016
Table 121: Venezuelan Non-Life Insurance – Written Premium Through Agencies (VEF Billion),
2007–2011
Table 122: Venezuelan Non-Life Insurance – Written Premium Through Agencies (VEF Billion),
2011–2016
Table 123: Venezuelan Non-Life Insurance – Policies Sold Through Agencies (Thousand),
2007–2011
Table 124: Venezuelan Non-Life Insurance – Policies Sold Through Agencies (Thousand),
2011–2016
Table 125: Venezuelan Non-Life Insurance – Number of Agencies, 2007–2011
Table 126: Venezuelan Non-Life Insurance – Number of Agencies, 2011–2016
Table 127: Venezuelan Non-Life Insurance – E-Commerce Commission Paid (VEF Billion),
2007–2011

10. Table 128: Venezuelan Non-Life Insurance – E-Commerce Commission Paid (VEF Billion),
2011–2016
Table 129: Venezuelan Non-Life Insurance – Written Premium Through E-Commerce (VEF
Billion), 2007–2011
Table 130: Venezuelan Non-Life Insurance – Written Premium Through E-Commerce (VEF
Billion), 2011–2016
Table 131: Venezuelan Non-Life Insurance – Policies Sold Through E-Commerce (Thousand),
2007–2011
Table 132: Venezuelan Non-Life Insurance – Policies Sold Through E-Commerce (Thousand),
2011–2016
Table 133: Venezuelan Non-Life Insurance – Number of E-Commerce Distributors, 2007–2011
Table 134: Venezuelan Non-Life Insurance – Number of E-Commerce Distributors, 2011–2016
Table 135: Venezuelan Non-Life Insurance – Commission Paid to Brokers (VEF Billion),
2007–2011
Table 136: Venezuelan Non-Life Insurance – Commission Paid to Brokers (VEF Billion),
2011–2016
Table 137: Venezuelan Non-Life Insurance – Written Premium Through Brokers (VEF Billion),
2007–2011
Table 138: Venezuelan Non-Life Insurance – Written Premium Through Brokers (VEF Billion),
2011–2016
Table 139: Venezuelan Non-Life Insurance – Policies Sold Through Brokers (Thousand),
2007–2011
Table 140: Venezuelan Non-Life Insurance – Policies Sold Through Brokers (Thousand),
2011–2016
Table 141: Venezuelan Non-Life Insurance – Number of Brokers, 2007–2011
Table 142: Venezuelan Non-Life Insurance – Number of Brokers, 2011–2016
Table 143: Venezuelan Non-Life Insurance – Commission Paid to Other Channels (VEF Billion),
2007–2011
Table 144: Venezuelan Non-Life Insurance – Commission Paid to Other Channels (VEF Billion),
2011–2016
Table 145: Venezuelan Non-Life Insurance – Written Premium Through Other Channels (VEF
Billion), 2007–2011
Table 146: Venezuelan Non-Life Insurance – Written Premium Through Other Channels (VEF
Billion), 2011–2016
Table 147: Venezuelan Non-Life Insurance – Policies Sold Through Other Channels (Thousand),
2007–2011
Table 148: Venezuelan Non-Life Insurance – Policies Sold Through Other Channels (Thousand),
2011–2016
Table 149: Venezuelan Non-Life Insurance – Number of Distributors in Other Channels,
2007–2011
Table 150: Venezuelan Non-Life Insurance – Number of Distributors in Other Channels,
2011–2016

11. Table 151: Reinsurance in Venezuela by Category (VEF Billion), 2007–2011
Table 152: Reinsurance in Venezuela by Category (US$ Billion), 2007–2011
Table 153: Reinsurance in Venezuela by Category (VEF Billion), 2011–2016
Table 154: Reinsurance in Venezuela by Category (US$ Billion), 2011–2016
Table 155: Venezuelan Premium Ceded to Reinsurance by Type of Insurance (VEF Billion),
2007–2011
Table 156: Venezuelan Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),
2007–2011
Table 157: Venezuelan Premium Ceded to Reinsurance by Type of Insurance (VEF Billion),
2011–2016
Table 158: Venezuelan Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),
2011–2016
Table 159: Venezuelan Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Table 160: Venezuelan Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Table 161: Venezuelan Non-Life Insurance Market Share, 2011
Table 162: Seguros Caracas de Liberty Mutual CA, Key Facts
Table 163: Seguros Mercantil CA, Key Facts
Table 164: Mapfre La Seguridad, CA, Key Facts
Table 165: Zurich Seguros, SA, Key Facts
Table 166: Estar Seguros, SA, Key Facts
Table 167: Banesco Seguros CA, Key Facts
List of Figures
Figure 1: Venezuelan Insurance – Overall Written Premium by Segment (VEF Billion), 2007–2016
Figure 2: Venezuelan Insurance – Dynamics by Segment, 2007–2016
Figure 3: Venezuelan Non-Life Insurance – Written Premium by Category (VEF Billion),
2007–2016
Figure 4: Venezuelan Non-Life Insurance – Written Premium by Category (%), 2011 and 2016
Figure 5: Venezuelan Non-Life Insurance – Dynamics by Category, 2007–2016
Figure 6: Venezuelan Non-Life Insurance – Earned Premium (VEF Billion), 2007–2011
Figure 7: Venezuelan Non-Life Insurance – Earned Premium (VEF Billion), 2011–2016
Figure 8: Venezuelan Non-Life Insurance – Paid Claims by Category (VEF Billion), 2007–2016
Figure 9: Venezuelan Non-Life Insurance – Incurred Loss by Category (VEF Billion), 2007–2016
Figure 10: Venezuelan Non-Life Insurance – Loss Ratio (%), 2007–2011
Figure 11: Venezuelan Non-Life Insurance – Loss Ratio (%), 2011–2016
Figure 12: Venezuelan Non-Life Insurance – Commission and Expenses (VEF Billion), 2007–2011
Figure 13: Venezuelan Non-Life Insurance – Commission and Expenses (VEF Billion), 2011–2016
Figure 14: Venezuelan Non-Life Insurance – Combined Ratio (%), 2007–2011
Figure 15: Venezuelan Non-Life Insurance – Combined Ratio (%), 2011–2016
Figure 16: Venezuelan Non-Life Insurance – Frauds and Crimes (VEF Billion), 2007–2011
Figure 17: Venezuelan Non-Life Insurance – Frauds and Crimes (VEF Billion), 2011–2016
Figure 18: Venezuelan Non-Life Insurance – Total Assets (VEF Billion), 2007–2011

12. Figure 19: Venezuelan Non-Life Insurance – Total Assets (VEF Billion), 2011–2016
Figure 20: Venezuelan Non-Life Insurance – Total Investment Income (VEF Billion), 2007–2011
Figure 21: Venezuelan Non-Life Insurance – Total Investment Income (VEF Billion), 2011–2016
Figure 22: Venezuelan Non-Life Insurance – Retentions (VEF Billion), 2007–2011
Figure 23: Venezuelan Non-Life Insurance – Retentions (VEF Billion), 2011–2016
Figure 24: Venezuelan Non-Life Insurance – Investment Portfolio (VEF Billion), 2007–2011
Figure 25: Venezuelan Non-Life Insurance – Investment Portfolio (% Share), 2007 and 2011
Figure 26: Venezuelan Non-Life Insurance – Penetration (% of GDP), 2007–2011
Figure 27: Venezuelan Non-Life Insurance – Number of Policies Sold (Thousand), 2007–2011
Figure 28: Venezuelan Non-Life Insurance – Number of Policies Sold (Thousand), 2011–2016
Figure 29: Venezuelan Non-Life Insurance – Premium Per Capita (VEF), 2007–2011
Figure 30: Venezuelan Property Insurance – Written Premium (VEF Billion) by Sub-Category,
2007–2016
Figure 31: Venezuelan Property Insurance – Market Dynamics by Sub-Category, 2007–2016
Figure 32: Venezuelan Property Insurance – Loss Ratio (%), 2007–2011
Figure 33: Venezuelan Property Insurance – Loss Ratio (%), 2011–2016
Figure 34: Venezuelan Fire and Allied Perils Insurance – Number of Policies Sold (Thousand),
2007–2011
Figure 35: Venezuelan Fire and Allied Perils Insurance – Number of Policies Sold (Thousand),
2011–2016
Figure 36: Venezuelan Fire and Allied Perils Insurance – Written Premium (VEF Billion),
2007–2011
Figure 37: Venezuelan Fire and Allied Perils Insurance – Written Premium (VEF Billion),
2011–2016
Figure 38: Venezuelan Engineering Insurance – Number of Policies Sold (Thousand), 2007–2011
Figure 39: Venezuelan Engineering Insurance – Number of Policies Sold (Thousand), 2011–2016
Figure 40: Venezuelan Engineering Insurance – Written Premium (VEF Billion), 2007–2011
Figure 41: Venezuelan Engineering Insurance – Written Premium (VEF Billion), 2011–2016
Figure 42: Venezuelan Agriculture Insurance – Number of Policies Sold (Thousand), 2007–2011
Figure 43: Venezuelan Agriculture Insurance – Number of Policies Sold (Thousand), 2011–2016
Figure 44: Venezuelan Agriculture Insurance – Written Premium (VEF Billion), 2007–2011
Figure 45: Venezuelan Agriculture Insurance – Written Premium (VEF Billion), 2011–2016
Figure 46: Venezuelan Other Property Insurance – Number of Policies Sold (Thousand),
2007–2011
Figure 47: Venezuelan Other Property Insurance – Number of Policies Sold (Thousand),
2011–2016
Figure 48: Venezuelan Other Property Insurance – Written Premium (VEF Billion), 2007–2011
Figure 49: Venezuelan Other Property Insurance – Written Premium (VEF Billion), 2011–2016
Figure 50: Venezuelan Motor Insurance – Written Premium and by Sub-Category (VEF Billion),
2007–2016
Figure 51: Venezuelan Motor Insurance – Market Dynamics by Sub-Category, 2007–2016
Figure 52: Venezuelan Motor Insurance – Loss Ratio (%), 2007–2011

13. Figure 53: Venezuelan Motor Insurance – Loss Ratio (%), 2011–2016
Figure 54: Venezuelan Motor Hull Insurance – Number of Policies Sold (Thousand), 2007–2011
Figure 55: Venezuelan Motor Hull Insurance – Number of Policies Sold (Thousand), 2011–2016
Figure 56: Venezuelan Motor Hull Insurance – Written Premium (VEF Billion), 2007–2011
Figure 57: Venezuelan Motor Hull Insurance – Written Premium (VEF Billion), 2011–2016
Figure 58: Venezuelan Motor Third-Party Insurance – Number of Policies Sold (Thousand),
2007–2011
Figure 59: Venezuelan Motor Third-Party Insurance – Number of Policies Sold (Thousand),
2011–2016
Figure 60: Venezuelan Motor Third-Party Insurance – Written Premium (VEF Billion), 2007–2011
Figure 61: Venezuelan Motor Third-Party Insurance – Written Premium (VEF Billion), 2011–2016
Figure 62: Venezuelan General Third-Party Insurance – Number of Policies Sold (Thousand),
2007–2011
Figure 63: Venezuelan General Third-Party Insurance – Number of Policies Sold (Thousand),
2011–2016
Figure 64: Venezuelan General Third-Party Insurance – Written Premium (VEF Billion),
2007–2011
Figure 65: Venezuelan General Third-Party Insurance – Written Premium (VEF Billion),
2011–2016
Figure 66: Venezuelan General Third-Party Insurance – Loss Ratio (%), 2007–2011
Figure 67: Venezuelan General Third-Party Insurance – Loss Ratio (%), 2011–2016
Figure 68: Venezuelan Marine, Aviation and Transit Insurance – Written Premium by Sub-
Category (VEF Billion), 2007–2016
Figure 69: Venezuelan Marine, Aviation and Transit Insurance – Dynamics by Sub-Category,
2007–2016
Figure 70: Venezuelan Marine, Aviation and Transit Insurance – Loss Ratio (%), 2007–2011
Figure 71: Venezuelan Marine, Aviation and Transit Insurance – Loss Ratio (%), 2011–2016
Figure 72: Venezuelan Marine Insurance – Written Premium by Product Type (VEF Billion),
2007–2016
Figure 73: Venezuelan Marine Insurance – Dynamics by Sub-category, 2007–2016
Figure 74: Venezuelan Marine Hull Insurance – Number of Policies Sold (Thousand), 2007–2011
Figure 75: Venezuelan Marine Hull Insurance – Number of Policies Sold (Thousand), 2011–2016
Figure 76: Venezuelan Marine Hull Insurance – Written Premium (VEF Billion), 2007–2011
Figure 77: Venezuelan Marine Hull Insurance – Written Premium (VEF Billion), 2011–2016
Figure 78: Venezuelan Marine Third-Party Insurance – Number of Policies Sold (Thousand),
2007–2011
Figure 79: Venezuelan Marine Third-Party Insurance – Number of Policies Sold (Thousand),
2011–2016
Figure 80: Venezuelan Marine Third-Party Insurance – Written Premium (VEF Billion), 2007–2011
Figure 81: Venezuelan Marine Third-Party Insurance – Written Premium (VEF Billion), 2011–2016
Figure 82: Venezuelan Aviation Insurance – Number of Policies Sold (Thousand), 2007–2011
Figure 83: Venezuelan Aviation Insurance – Number of Policies Sold (Thousand), 2011–2016

14. Figure 84: Venezuelan Aviation Insurance – Written Premium (VEF Billion), 2007–2011
Figure 85: Venezuelan Aviation Insurance – Written Premium (VEF Billion), 2011–2016
Figure 86: Venezuelan Transit Insurance – Number of Policies Sold (Thousand), 2007–2011
Figure 87: Venezuelan Transit Insurance – Number of Policies Sold (Thousand), 2011–2016
Figure 88: Venezuelan Transit Insurance – Written Premium (VEF Billion), 2007–2011
Figure 89: Venezuelan Transit Insurance – Written Premium (VEF Billion), 2011–2016
Figure 90: Venezuelan Non-Life Insurance – Written Premium by Distribution Channel (% Share),
2011 and 2016
Figure 91: Venezuelan Non-Life Insurance – Direct Marketing Commission Paid (VEF Billion),
2007–2011
Figure 92: Venezuelan Non-Life Insurance – Direct Marketing Commission Paid (VEF Billion),
2011–2016
Figure 93: Venezuelan Non-Life Insurance – Written Premium Through Direct Marketing (VEF
Billion), 2007–2011
Figure 94: Venezuelan Non-Life Insurance – Written Premium Through Direct Marketing (VEF
Billion), 2011–2016
Figure 95: Venezuelan Non-Life Insurance – Policies Sold Through Direct Marketing (Thousand),
2007–2011
Figure 96: Venezuelan Non-Life Insurance – Policies Sold Through Direct Marketing (Thousand),
2011–2016
Figure 97: Venezuelan Non-Life Insurance – Number of Direct Marketing Distributors, 2007–2011
Figure 98: Venezuelan Non-Life Insurance – Number of Direct Marketing Distributors, 2011–2016
Figure 99: Venezuelan Non-Life Insurance – Bancassurance Commission Paid (VEF Billion),
2007–2011
Figure 100: Venezuelan Non-Life Insurance – Bancassurance Commission Paid (VEF Billion),
2011–2016
Figure 101: Venezuelan Non-Life Insurance – Written Premium Through Bancassurance (VEF
Billion), 2007–2011
Figure 102: Venezuelan Non-Life Insurance – Written Premium Through Bancassurance (VEF
Billion), 2011–2016
Figure 103: Venezuelan Non-Life Insurance – Policies Sold Through Bancassurance (Thousand),
2007–2011
Figure 104: Venezuelan Non-Life Insurance – Policies Sold Through Bancassurance (Thousand),
2011–2016
Figure 105: Venezuelan Non-Life Insurance – Number of Bancassurance Distributors, 2007–2011
Figure 106: Venezuelan Non-Life Insurance – Number of Bancassurance Distributors, 2011–2016
Figure 107: Venezuelan Non-Life Insurance – Commission Paid to Agencies (VEF Billion),
2007–2011
Figure 108: Venezuelan Non-Life Insurance – Commission Paid to Agencies (VEF Billion),
2011–2016
Figure 109: Venezuelan Non-Life Insurance – Written Premium Through Agencies (VEF Billion),
2007–2011

15. Figure 110: Venezuelan Non-Life Insurance – Written Premium Through Agencies (VEF Billion),
2011–2016
Figure 111: Venezuelan Non-Life Insurance – Policies Sold Through Agencies (Thousand),
2007–2011
Figure 112: Venezuelan Non-Life Insurance – Policies Sold Through Agencies (Thousand),
2011–2016
Figure 113: Venezuelan Non-Life Insurance – Number of Agencies, 2007–2011
Figure 114: Venezuelan Non-Life Insurance – Number of Agencies, 2011–2016
Figure 115: Venezuelan Non-Life Insurance – E-Commerce Commission Paid (VEF Billion),
2007–2011
Figure 116: Venezuelan Non-Life Insurance – E-Commerce Commission Paid (VEF Billion),
2011–2016
Figure 117: Venezuelan Non-Life Insurance – Written Premium Through E-Commerce (VEF
Billion), 2007–2011
Figure 118: Venezuelan Non-Life Insurance – Written Premium Through E-Commerce (VEF
Billion), 2011–2016
Figure 119: Venezuelan Non-Life Insurance – Policies Sold Through E-Commerce (Thousand),
2007–2011
Figure 120: Venezuelan Non-Life Insurance – Policies Sold Through E-Commerce (Thousand),
2011–2016
Figure 121: Venezuelan Non-Life Insurance – Number of E-Commerce Distributors, 2007–2011
Figure 122: Venezuelan Non-Life Insurance – Number of E-Commerce Distributors, 2011–2016
Figure 123: Venezuelan Non-Life Insurance – Commission Paid to Brokers (VEF Billion),
2007–2011
Figure 124: Venezuelan Non-Life Insurance – Commission Paid to Brokers (VEF Billion),
2011–2016
Figure 125: Venezuelan Non-Life Insurance – Written Premium Through Brokers (VEF Billion),
2007–2011
Figure 126: Venezuelan Non-Life Insurance – Written Premium Through Brokers (VEF Billion),
2011–2016
Figure 127: Venezuelan Non-Life Insurance – Policies Sold Through Brokers (Thousand),
2007–2011
Figure 128: Venezuelan Non-Life Insurance – Policies Sold Through Brokers (Thousand),
2011–2016
Figure 129: Venezuelan Non-Life Insurance – Number of Brokers, 2007–2011
Figure 130: Venezuelan Non-Life Insurance – Number of Brokers, 2011–2016
Figure 131: Venezuelan Non-Life Insurance – Commission Paid to Other Channels (VEF Billion),
2007–2011
Figure 132: Venezuelan Non-Life Insurance – Commission Paid to Other Channels (VEF Billion),
2011–2016
Figure 133: Venezuelan Non-Life Insurance – Written Premium Through Other Channels (VEF
Billion), 2007–2011

16. Figure 134: Venezuelan Non-Life Insurance – Written Premium Through Other Channels (VEF
Billion), 2011–2016
Figure 135: Venezuelan Non-Life Insurance – Policies Sold Through Other Channels (Thousand),
2007–2011
Figure 136: Venezuelan Non-Life Insurance – Policies Sold Through Other Channels (Thousand),
2011–2016
Figure 137: Venezuelan Non-Life Insurance – Number of Distributors in Other Channels,
2007–2011
Figure 138: Venezuelan Non-Life Insurance – Number of Distributors in Other Channels,
2011–2016
Figure 139: Venezuelan Non-Life Insurance – Five Forces Analysis
Figure 140: Venezuelan Premium Ceded to Reinsurance by Category (VEF Billion), 2007–2016
Figure 141: Venezuelan Premium Ceded to Reinsurance by Category (% Share), 2011 and 2016
Figure 142: Venezuelan Reinsurance Market Dynamics by Category, 2007–2016
Figure 143: Venezuelan Premium Ceded to Reinsurance by Segment (VEF Billion), 2007–2016
Figure 144: Venezuelan Reinsurance – Dynamics by Segment, 2007–2016
Figure 145: Venezuelan Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Figure 146: Venezuelan Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Figure 147:
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