At a Glance: Bolivia's P&C segment
Seven insurers were operating in Bolivia's P&C market at the end of June, according to data from regulator APS.
The market is controlled by local players, among them Alianza and La Boliviana Ciacruz.
In recent years the overall insurance industry experienced rapid growth, but the pace is slowing. Last year, premium growth was 5%, driven by the poor performance of the P&C segments, rating agency Moody's said in a May report. The annual average rate of premium growth (CAGR) in the last five years has been 12% in nominal terms and 7% in real terms.
In January-June, the three biggest P&C lines in terms of written premiums were motor vehicle (US$42.6mn), followed by fire (US$19.9mn) and construction all risk and machinery (US$12.8mn) Total written premiums for the period were US$122mn.
HOW THEY RANK
Company-specific data from APS includes surety, which was US$11.9mn overall in January-June.
No. 1
The biggest player was Alianza, posting US$42.5mn. The company also offers life products.
No. 2
In second was La Boliviana Ciacruz, which reported US$30.9mn. La Boliviana is a player in the life market, too.
No. 3
Bisa Seguros, part of the local financial services group Bisa, posted US$26.0mn.
No. 4
Insurer and reinsurer Credinform International took fourth spot, reporting US$20.3mn.
No. 5
Nacional, formerly of part of lender Banco Nacional de Bolivia, posted US$12.911mn.
No. 6
Fortaleza, part of local financial services group Fortaleza, posted US$10.2mn. The company also offers life products.
No. 7
The smallest player in terms of total written premiums was Illimani, formerly a unit of British firm Royal Insurance, which posted US$302,000.
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