Life Report

Product Insurance Market Reports Life Rev

Key Highlights

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  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Paraguay's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Paraguay's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Paraguay

The Paraguay life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Paraguay. Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Paraguay and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Paraguay’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Paraguay is available.

Axco’s report describes the regulatory framework that applies to the domestic life insurance sector, including whether non-admitted insurance is permitted in Paraguay; as well as the legislation necessary to know regarding Paraguay’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Paraguay with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Paraguayan market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Paraguay, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Paraguayan pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Paraguay report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Paraguay Life and Benefits Report Extract

Below are brief extracts of information from the Paraguay Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

In Paraguay the insurance market is predominantly non-life orientated with life written premiums representing only 14.91% of total premium income.

The total life account has reported a solid level of growth in nine of the last ten years. As at year end 30 June 2020, written premium growth was 18.40% compared to a small decline of 1.6% in the previous year. Prospects for future growth are relatively positive, subject to favourable economic ....


In Paraguay there is very limited availability of private pension options to supplement those provided by the Social Welfare Institute (Instituto de Prevision Social - IPS) system.

In February 2020 the latest draft of a new bill to create the Superintendency of Retirement and Pensions (Superintendencia de Jubilaciones y Pensiones - SJP) and establish a new regulatory framework was in circulation ....


In Paraguay the public health system struggles to function adequately and there are frequent complaints about the services provided. The ageing population and increased life expectancy are likely to exacerbate the challenges faced by a system already under significant pressure.

Public health facilities are not evenly spread throughout the country and tend to be concentrated in and around the capital. An estimated 28.7% of the population has no access to any health facilities.

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