Guatemala’s insurance industry maintained a solid upward trajectory in the first quarter of 2025, with total premium volume reaching 3.91 billion Quetzales. The market expanded 6.8% year-on-year, supported primarily by strong growth in Non-Life and Life segments. Life insurance grew by 8.9%, and Non-Life policies increased by 9.8%, highlighting the ongoing demand for risk protection among individuals and businesses. Accident and Health coverages—often tied to employer benefits or private medical plans—saw a more moderate increase of 2.3%, while the Surety (Fianzas) segment registered a slight contraction of 0.8%, suggesting more caution or reduced investment activity in sectors demanding guarantee bonds.
Insurance Market in Guatemala March 2025 market overview (PDF)
Insurance Market in Guatemala 2020-2025 (Excel dataset)
Despite the mixed performance across segments, the market’s overall health appears strong. The combined cost of acquisition and claims amounted to 37.5% of premiums—relatively efficient by regional standards—while the gross operating profit from insurance activity was 14.0%. After factoring in all expenses and income, insurers achieved a net profit margin of 9.9%, reflecting prudent management, adequate underwriting, and favorable investment returns.
In terms of competitive dynamics, some insurers have clearly outpaced others in expanding their footprint.
Rankings Overview
Top five insurers with the highest year-on-year increase in market share (premium volume):
- SEGUROS EL ROBLE: +0.75%
- MAPFRE GUATEMALA: +0.48%
- BAM SEGUROS: +0.47%
- ASSA: +0.47%
- ASEGURADORA GENERAL: +0.39%
- SEGUROS GyT: +0.35%
- FIDELIS FIANZAS: +0.13%
- ASEGURADORA CONFIO: +0.09%
- SEGUROS BANTRAB: +0,08%
- BUPA GUATEMALA: +0.05%
Market leadership continues to be segmented by coverage type. In Life insurance, ROBLE leads with a 17.41% market share, followed closely by ASRURAL and ASSA. For Non-Life business, G & T holds the top position with 21.88%, while GENERAL dominates the Accident & Health space with an impressive 24.00% share. In the niche but competitive Surety segment, ASEG-FIDELIS stands as the clear leader with 21.72%.
Top 10 Insurers – Total Premiums (All Lines):
- ROBLE: 17.23%
- G & T: 15.71%
- GENERAL: 11.01%
- MAPFRE: 7.91%
- PAN-AMERICAN: 6.84%
- UNIVERSALES: 6.69%
- ASRURAL: 6.41%
- ASSA: 5.53%
- CHN: 5.41%
- AGROMERCANTIL: 5.23%
Top 10 Insurers – Life Insurance:
- ROBLE: 17.41%
- ASRURAL: 15.21%
- ASSA: 13.45%
- MAPFRE: 10.89%
- TRABAJADORES: 9.59%
- COLUMNA: 7.95%
- PAN-AMERICAN: 4.22%
- AGROMERCANTIL: 4.02%
- G & T: 3.94%
- UNIVERSALES: 3.61%
Top 10 Insurers – Non-Life Insurance:
- G & T: 21.88%
- ROBLE: 19.91%
- CHN: 12.29%
- MAPFRE: 9.75%
- UNIVERSALES: 7.80%
- AGROMERCANTIL: 6.45%
- GENERAL: 5.77%
- ASRURAL: 4.79%
- CEIBA: 3.49%
- ASSA: 2.51%
Top 10 Insurers – Accident & Health Insurance:
- GENERAL: 24.00%
- PAN-AMERICAN: 17.98%
- G & T: 16.17%
- ROBLE: 14.82%
- UNIVERSALES: 7.95%
- AGROMERCANTIL: 4.82%
- ASSA: 3.89%
- MAPFRE: 3.87%
- BUPA: 2.31%
- BMI-SEGUROS: 2.01%
Top 10 Insurers – Surety:
- ASEG-FIDELIS: 21.72%
- G & T: 18.80%
- CHN CAUCIÓN: 16.64%
- ASRURAL: 13.29%
- PRIVANZA: 12.26%
- FICOHSA SEGUROS: 3.49%
- DE LA NACION: 3.05%
- SOLIDARIA: 2.48%
- CEIBA: 1.78%
- ASSA: 1.69%
Overall, Guatemala’s insurance market continues to evolve with healthy profitability and a reshuffling of competitive positions. As insurers fine-tune their strategies to capture growth in both traditional and emerging product lines, the upcoming quarters will be crucial in determining whether the current leaders can sustain their momentum or whether agile challengers will continue to shake up the rankings.