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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the El Salvador non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in El Salvador's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the El Salvador non-life (P&C) market as well as trends by line of business. Axco analysts also report on El Salvador's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes El Salvador's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in El Salvador, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in El Salvador, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in El Salvador with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
In 2019 El Salvador ranked 89 in the world insurance market overall according to Axco Global Statistics, and 91 for non-life business. The market is characterised by low insurance penetration, the lack of a domestic reinsurance market and consequent high dependence on foreign reinsurers to cover the country's significant earthquake exposure.
Non-life market income in 2020 was USD 325.5mn, representing a fall of 1.5% on the previous year ....
This is a brief extract of information; more updated information may be available in the latest published report