Paraguay’s insurance market reached USD 778 million in premiums as of June 2026, compared with USD 533 million in June 2025, representing nominal year-on-year growth of 45.9%. The increase in the market measured in U.S. dollars was influenced to a large extent by exchange-rate variation, making the dollar-denominated expansion notably stronger than the growth recorded in local currency.
Measured in Paraguayan guaraníes, total Life and non-Life premiums amounted to PYG 4.645 trillion in June 2026, up from PYG 4.248 trillion a year earlier. This represented nominal growth of 9.3%, providing a more stable measure of the underlying expansion of insurance activity after removing the effect of exchange-rate movements.
Competition in Paraguay remains relatively broad, with 35 insurers competing in the market when Life and non-Life entities are considered separately. The leading position was held by MAPFRE PARAGUAY COMPAÑÍA DE SEGUROS S.A. with an 11.0% market share, followed by ASEGURADORA DEL ESTE S.A. DE SEGUROS at 10.7% and ASEGURADORA YACYRETA S.A. DE SEGUROS at 8.4%. Together, the three largest insurers accounted for 30.0% of total premiums, indicating that no single company held a dominant position.
The remainder of the Top Ten comprised LA CONSOLIDADA S.A. DE SEGUROS, ASEGURADORA TAJY PROPIEDAD COOPERATIVA S.A. DE SEGUROS, PATRIA S.A. DE SEGUROS Y REASEGUROS, ITAU SEGUROS PARAGUAY S.A., ROYAL SEGUROS S.A. COMPAÑÍA DE SEGUROS, ALIANZA GARANTÍA SEGUROS Y REASEGUROS S.A. and SEGURIDAD S.A. COMPAÑÍA DE SEGUROS. The distribution of market shares across these leading participants highlights a competitive structure in which the largest insurers collectively capture a significant portion of premiums while the market remains fragmented among a wider group of companies.
Source:
LATIN AMERICA INSURANCE MONITOR. INDUSTRY STATISTICS, COMPETITIVE LANDSCAPE AND FORECAST REPORT