Home Country Coverage Uruguay


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Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Uruguay Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Uruguay includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Uruguay can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Global Statistics Regulatory Alerts Market Profiles Insight Compliance Compliance Point Clinical Trials

Country Information

Capital city
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT -3
3.49 mn
60,725.48 mn

Uruguay is the smallest of the South American republics with a relatively small non-life insurance market. Uruguay's economy is supported by agricultural exports, a highly educated population, a relatively egalitarian distribution of income, and generous entitlement systems. Standards of living are among the highest in Latin America and corruption is considered low.

In 2019 non-life premiums amounted to UYU 30.61bn, representing an increase of 10.94% over the previous year. The combined life and non-life premium income for 2019 equalled UYU 54.80bn; no separate figures are available for PA and healthcare. Personal accident and healthcare are both considered to be life classes, with the exception of the personal accident cover under the motor policy and other PA cover that is complementary to other non-life risks.

In 2020 there were 16 insurance companies authorised to write non-life business in Uruguay of which seven were exclusively non-life and nine were composites, (including the state-owned Banco de Seguros del Estado - BSE).


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