The insurance market in Honduras remains relatively small within the Latin American context, yet it continues to show moderate growth and a highly concentrated competitive structure. As of September 2025, total life and non-life insurance premiums reached USD 576 million, compared with USD 569 million in September 2024. This represents a nominal year-on-year increase of 1.2%, reflecting a market that is expanding at a measured pace in dollar terms.
Measured in local currency, growth has been more dynamic. Total premiums amounted to HNL 15,159 million in September 2025, up from HNL 13,958 million in the same period of the previous year. This translates into a nominal interannual growth rate of 8.6% in lempiras, highlighting the combined effect of premium expansion and currency movements on the local market’s performance.
The Honduran insurance sector is served by 12 active insurers, a relatively limited number that underscores the market’s high level of concentration. These companies represent approximately 1.5% of the total number of insurers operating across Latin America, positioning Honduras as a small but clearly defined market within the regional insurance landscape.
Market leadership is firmly held by Ficohsa Seguros, which accounts for 25.0% of total premiums, making it the dominant player in the country. It is followed by Mapfre Seguros with a market share of 16.0% and Seguros Atlántida with 13.0%, together forming a strong leading group that controls more than half of the market.
The second tier of competitors includes Palic with an 8.1% market share and Seguros Davivienda with 8.0%, both closely matched in scale. Crefisa follows with 7.3%, while Seguros del País holds 6.7%, reinforcing the presence of several mid-sized insurers with meaningful participation in the market.
Further down the ranking, Assa Compañía de Seguros records a 4.2% market share, Seguros Continental reaches 3.2%, and Seguros Equidad, S.A. accounts for 3.0%. Collectively, the top ten insurers concentrate 94.7% of total premiums, leaving only a marginal portion of the market to smaller players.
Overall, the Honduran insurance market as of September 2025 is characterized by modest growth in U.S. dollar terms, stronger nominal expansion in local currency, and a highly concentrated competitive environment. The dominance of a limited number of insurers shapes both pricing dynamics and competitive strategies, while the small number of market participants continues to define Honduras as a compact but clearly structured insurance market within Latin America.