The insurance market in Honduras has demonstrated notable growth over the past year. According to out latest market research report, the volume of net premiums in June 2023 reached 8233.4 million Lempiras, representing a 13.1% increase compared to the same period in the previous year, when the volume of net premiums was 7279.6 million Lempiras.
In terms of market share among leading insurers in volume of premiums, Ficohsa Seguros leads with a market share of 23.4%, followed by Mapfre Seguros with 19.7%, Seguros Atlántida with 12.1%, Palic with 9.8%, and Seguros Davivienda with 7.8%.Highest year-on-year market share growth ranking
With regards to the evolution of the market by type of coverage, life insurance experienced an increase of 18.9% compared to the previous year, while general insurance increased by 10%. Accident and Health insurance increased by 14.9%, while other general insurance decreased by 3.5%. Surety increased by 6.8%.
Our market size forecast for 2025 is projected to be 877 million USD. In terms of scenarios projected for the market volume in millions of Lempiras for 2025, our most probable scenario is 19.300 million Lempiras, while the optimistic scenario is 21.800 million Lempiras and the pessimistic scenario is 17.400 million Lempiras.