Insurance Companies in Honduras - 2024.12 Rankings

The Honduran insurance sector continues to show steady growth, with total written premiums reaching 23,057 million Lempiras as of December 2024. According to the Honduras Insurance Company Rankings report, based on data from the National Banking and Insurance Commission (CNBS) and insurers' financial statements, the industry remains highly competitive, with a significant portion of premiums ceded to reinsurers.

Premiums ceded to reinsurers amounted to 9,914 million Lempiras, representing 43% of total premiums. This figure underscores the industry's reliance on risk transfer mechanisms, ensuring financial stability in the face of potential large-scale claims. Additionally, commissions paid to intermediaries accounted for 10.2% of premiums, reflecting the crucial role of brokers and agents in policy distribution.

The final result for the insurance sector stood at 1,649 million Lempiras, translating to a profitability ratio of 7.2% relative to total premiums. This indicates a positive financial performance, supported by effective underwriting practices and cost management strategies.

Market share analysis highlights the dominance of key players in the Honduran insurance landscape. FICOHSA SEGUROS leads the sector with a 21.6% market share, followed closely by MAPFRE SEGUROS at 16.9% and SEGUROS ATLÁNTIDA at 14.7%. SEGUROS DEL PAÍS and CREFISA hold market shares of 9.6% and 8.2%, respectively, reinforcing their competitive positions within the industry.

As the Honduran insurance market evolves, the interplay between premium growth, reinsurance strategies, and financial performance will remain critical in shaping the industry's future. The sector's ability to navigate regulatory changes and economic shifts will be instrumental in sustaining long-term growth and stability.

Rankings as of December 2024 (Overview)

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