The Latin American Insurance Market

The report presents an analysis of the behavior and performance of the insurance industry in Latin America in 2023 and, in a medium-term perspective, over the past decade. The good performance of the Latin American insurance industry in 2023 resulted in a real increase in premiums in almost all markets. Thus, total premiums in the region amounted to US$203,354 million, a nominal increase of 17.1% over the previous year, with nominal and real growth in local currency terms in most Latin American markets. The report also reviews the main figures of the region’s insurance markets (premium growth, investments, technical provisions, technical performance, and results and profitability), as well as the most relevant structural trends, considering the development of the indicators for penetration, density, insurance depth and insurance gap.