Non-Life Insurance in South America
Summary
Non-Life Insurance in South America industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The South American non-life insurance market recorded written premiums of $81.5 billion in 2023, representing a compound annual growth rate (CAGR) of 2.6% between 2018 and 2023.
- The motor segment accounted for the market's largest proportion in 2023, with total written premiums of $21.1 billion, equivalent to 25.9% of the market's overall value.
- The South American non-life insurance market is experiencing significant growth, driven by rising awareness of the importance of insurance in safeguarding assets and mitigating financial risks. This heightened awareness has led to an increase in the number of active non-life insurance policies. According to the Statistical Synthesis of the Insurance Association of Chile, in 2023, the number of active non-life insurance policies in the country reached 25.1 million, an increase of 7.4% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in South America
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in South America
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South America non-life insurance market with five year forecasts
- What was the size of the South America non-life insurance market by value in 2023?
- What will be the size of the South America non-life insurance market in 2028?
- What factors are affecting the strength of competition in the South America non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up South America's non-life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strengths and strategies of the leading players?
- 7.4. What are the recent developments in the market?
- 8 Company Profiles
- 8.1. Porto Seguro SA
- 8.2. Mapfre SA
- 8.3. Bradesco Seguros SA
- 8.4. Tokio Marine Holdings Inc
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: South America non-life insurance market value: $ billion, 2018-23
- Table 2: South America non-life insurance market category segmentation: % share, by value, 2018-23
- Table 3: South America non-life insurance market category segmentation: $ billion, 2018-23
- Table 4: South America non-life insurance market geography segmentation: $ billion, 2023
- Table 5: South America non-life insurance market value forecast: $ billion, 2023-28
- Table 6: South America non-life insurance market share: % share, by value, 2023
- Table 7: Porto Seguro SA: Key Facts
- Table 8: Porto Seguro SA: Annual Financial Ratios
- Table 9: Porto Seguro SA: Key Employees
- Table 10: Mapfre SA: Key Facts
- Table 11: Mapfre SA: Annual Financial Ratios
- Table 12: Mapfre SA: Key Employees
- Table 13: Mapfre SA: Key Employees Continued
- Table 14: Bradesco Seguros SA: Key Facts
- Table 15: Bradesco Seguros SA: Key Employees
- Table 16: Tokio Marine Holdings Inc: Key Facts
- Table 17: Tokio Marine Holdings Inc: Annual Financial Ratios
- Table 18: Tokio Marine Holdings Inc: Key Employees
- Table 19: Tokio Marine Holdings Inc: Key Employees Continued
- Table 20: South America Exchange Rate, 2018-23
- List of Figures
- Figure 1: South America non-life insurance market value: $ billion, 2018-23
- Figure 2: South America non-life insurance market category segmentation: $ billion, 2018-23
- Figure 3: South America non-life insurance market geography segmentation: % share, by value, 2023
- Figure 4: South America non-life insurance market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the non-life insurance market in South America, 2023
- Figure 6: Drivers of buyer power in the non-life insurance market in South America, 2023
- Figure 7: Drivers of supplier power in the non-life insurance market in South America, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in South America, 2023
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in South America, 2023
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in South America, 2023
- Figure 11: South America non-life insurance market share: % share, by value, 2023
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