At a glance: Uruguay's 10 biggest insurers
The insurance sector in Uruguay is composed of 16 players and is dominated by state-owned giant Banco de Seguro del Estado (BSE).
BSE commanded a market share of around 65% of insurance industry assets in 1H18 and enjoys a monopoly in the pensions and workers' compensation segments.
In 2019, the insurance industry is likely to face a difficult scenario as the Uruguayan economy is expected to lose traction.
Growth is expected to slow due to the current recession in neighboring Argentina, which is one of its biggest trading partners and a key income generator for Uruguay's important tourism sector.
The tourism sector accounts for roughly 7% of Uruguay's GDP, with Argentine tourists making up 70% of the sector's revenues.
In its latest forecast, the UN's Eclac unit expects Uruguay's GDP growth to slow to 1.5% this year from an estimated 1.9% last year.
10 BIGGEST INSURERS AT 1H18
No. 1
BSE - 65%
No. 2
The subsidiary of Spanish insurance giant Mapfre - 7.5%
No. 3
The local unit of Colombian financial services group Sura - 5.8%
No. 4
Surco - formed by seven cooperatives - 5.55%
No. 5
The local unit of Brazil's Porto Seguro - 3.49%
No. 6
HDI Seguros, owned by the German Talanx group - 1.74%.
No. 7
FAR Seguros - 1.58%
No. 8
AIG Seguros, which is part of Canadian financial services group Fairfax - 1.27%
No. 9
Aliança da Bahia Uruguay, the local unit of Brazilian insurer Companhia de Seguros Aliança da Bahia - 0.95%
No. 10
The local unit of US insurance giant MetLife - 0.63%
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Uruguay)
Brazil set to boost regional integration
Finance minister Fernando Haddad told a panel at Davos that Latin America has immense potential, especially regarding clean energy.
Argentina waterway toll irks Uruguay and Paraguay
The toll could cost Paraguay around US$50mn per year and hurt Montevideo port.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Biomethane Plant
- Current stage:
- Updated:
22 hours ago
- Project: Los Montones Photovoltaic Power Plant
- Current stage:
- Updated:
22 hours ago
- Project: Leaching Gravel Management Update - Spence
- Current stage:
- Updated:
22 hours ago
- Project: San Gregorio
- Current stage:
- Updated:
22 hours ago
- Project: Oitis 5 wind farm (Oitis wind complex)
- Current stage:
- Updated:
22 hours ago
- Project: El Quevar
- Current stage:
- Updated:
23 hours ago
- Project: Yauricocha Expansion
- Current stage:
- Updated:
22 hours ago
- Project: Costa Perú wind farm
- Current stage:
- Updated:
2 days ago
- Project: Expansion of the potable water treatment plant in Curumuy (PWTP Curumuy)
- Current stage:
- Updated:
2 days ago
- Project: Tram in Villavicencio
- Current stage:
- Updated:
2 days ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Empresa Construtora Brasil S.A.  (ECB)
-
Empresa Construtora Brasil S.A. (ECB) works on engineering and construction of projects on road, railway, urban, industrial, port and airport, civil and mining infrastructure, n...
- Company: Consorcio EE Canoas
- Company: Macquarie Group Ltd.  (Macquarie Group)
-
Macquarie Group Ltd. is an Australian financial services provider that operates in the areas of asset management, retail and business banking, wealth management, leasing and ass...
- Company: TSK Bolivia
- Company: DORIS Engineering S.A.  (DORIS)
- Company: Minera Gold Fields Salares Norte Ltda.  (Minera Gold Fields Salares Norte)
-
Gold Fields Limited is a globally diversified producer of gold. It has eight operating mines, in Australia, Ghana, Peru and South Africa, whose combined annual attributable gold...
- Company: Saint-Gobain do Brasil Produtos Industriais e para Construção Ltda.  (Saint-Gobain do Brasil)
-
Saint-Gobain do Brasil Produtos Industriais e para Construção Ltda. (Saint-Gobain do Brasil) is a wholly-owned subsidiary of French multinational corporation Saint-Gobain. It pr...
- Company: Luceal Ingenieros EIRL
- Company: Indar Electric, S.L  (Indar Electric)
-
Indar Electric, S.L provides bespoke solutions in the area of electric power generation. It has plants in Milwaukee (US), Mexico City, Beasain and Segorbe (Spain) and a sales ne...