Honduras' insurance profits down 18%
Honduran insurers reported profits of US$36.2mn in 2013, down 18% year-to-year from US$44.3mn, analyst Enrique López Peña said in a report citing figures from local banking and insurance regulator CNBS.
Premiums climbed 5.11% to US$362mn, while claims increased 8.56% to US$1.72mn.
In terms of premiums, Ficohsa Seguros led with US$99.8mn and a 27.6% market share. Seguros Atlántida and Spanish insurer Mapfre's Honduran unit followed, bringing in US$54.1mn and US$49.6mn, with market shares of 15% and 13.7%, respectively.
Personal insurance and property and casualty insurance each accounted for about half of premiums in 2013. Revenue from life insurance premiums jumped 10.6% to US$112mn, while that of fire insurance rose 7.34% to $US82.6mn.
Premiums from personal insurance climbed 15.8%, reaching $6.48mn.
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