Insurance Brokers in Bolivia
Highest year-on-year market share growth ranking
Analyzing the brokers that have gained the most market share in the last 12 months, some interesting trends emerge. KERKUS (formerly known as ECOFUTURO has experienced significant growth, gaining a 1.98% market share and reaching a market share of 2.5%. HP BROKERS has also achieved notable growth, with an increase of 1.44% and a market share of 10.1%. Other brokers that have increased their market share include BCS with a 1.01% growth, TC BROKERS with a 0.80% increase, and CORRESUR with a growth of 0.67%.
As of March 2023, the insurance market in Bolivia continues to show steady growth and competitiveness, according to the report "Insurance Sales Channels in Bolivia - Competitive Analysis of Brokers". Analyzing the provided data, the evolution of intermediated volume and the rankings of the top insurance brokers in the countrwy stand out.
In terms of the evolution of intermediated volume in the past year, positive growth is observed across all insurance categories. In the surety sector, intermediated volume has increased by 13.47%, from USD 6,02 million in December 2021 to USD 6,8 million in December 2022. In the non-life insurance segment, there is a growth of 9.6%, with an intermediated volume of USD 164,6 million in 2022, compared to USD 150,2 million in the previous year. On the other hand, life insurance shows a significant growth of 36.7%, reaching USD 236,3 million in 2022, compared to USD 172,9 in 2021. Overall, the premiums in the insurance market in Bolivia experienced a 23.9% increase in intermediated volume, reaching a total of USD 407,8 million.
Regarding the ranking of insurance brokers by intermediated premium volume as of March 2023, a competitive and diversified landscape is observed. The leading broker in terms of market share is CONSULTORES DE SEGUROS with a 21% share of the market, closely followed by "SUDAMERICANA CORREDORES with 17.1%. In third place is UNIVERSAL BROKERS with a 10.7% market share, while HP BROKERS and "KIEFFER rank fourth and fifth, respectively, with market shares of 10.1% and 9.7%.