Leading insurers by country in Latin America - Q4.2023 Ranking
The Q4.2023 Insurer´s LatAm Ranking edition offers an insightful look into the insurance market across Latin America for the year 2023, highlighting the more than 700 insurers in 18 countries based on direct written premiums.
Argentina's top insurer is Federación Patronal Seguros, with direct written premiums amounting to USD 1181.1 million, placing it 39th in the Latin American ranking. In Bolivia, Alianza Grupo Asegurador leads with USD 141.3 million in premiums, ranked 187th in the region. Brazil's market is dominated by Brasilprev, which boasts an impressive USD 11245.5 million in premiums, earning it the top spot across Latin America.
Chile's leading insurer is MetLife, with USD 1769.4 million in premiums, securing the 21st position regionally. In Colombia, Sura is the frontrunner, collecting USD 3070 million in premiums and ranking 12th in Latin America. Costa Rica's market is led by INS, with USD 1343.4 million in premiums, placing it 31st in the regional ranking.
Ecuador's Seguros del Pichincha, with USD 234.9 million in premiums, ranks 138th in Latin America. In El Salvador, SISA leads with USD 218.8 million, holding the 145th position regionally. Guatemala's El Roble Seguros y Fianzas tops the market with USD 332.2 million in premiums, ranking 102nd in Latin America.
Ficohsa Seguros is the leading insurer in Honduras, with premiums totaling USD 156.3 million and ranking 178th in the region. Mexico's GNP Seguros is a major player with USD 5874.5 million in premiums, placing it third in Latin America. In Nicaragua, Seguros América leads with USD 69.5 million in premiums, ranking 271st regionally.
Panama's top insurer, ASSA, collects USD 443.3 million in premiums, securing the 84th spot in the Latin American ranking. Paraguay's leading insurer, MAPFRE, has USD 72.5 million in premiums, ranking 265th regionally. Peru's market is led by RIMAC, with USD 1603.7 million in premiums, placing it 24th in the Latin American ranking.
Seguros Universal is the top insurer in the Dominican Republic with USD 412.4 million in premiums, ranking 89th in Latin America. Uruguay's leading insurer, BSE, boasts USD 1547.5 million in premiums, earning the 27th position regionally. Finally, in Venezuela, Mercantil Seguros leads with USD 190.8 million in premiums, ranking 159th in Latin America.
Argentina's top insurer is Federación Patronal Seguros, with direct written premiums amounting to USD 1181.1 million, placing it 39th in the Latin American ranking. In Bolivia, Alianza Grupo Asegurador leads with USD 141.3 million in premiums, ranked 187th in the region. Brazil's market is dominated by Brasilprev, which boasts an impressive USD 11245.5 million in premiums, earning it the top spot across Latin America.
Chile's leading insurer is MetLife, with USD 1769.4 million in premiums, securing the 21st position regionally. In Colombia, Sura is the frontrunner, collecting USD 3070 million in premiums and ranking 12th in Latin America. Costa Rica's market is led by INS, with USD 1343.4 million in premiums, placing it 31st in the regional ranking.
Ecuador's Seguros del Pichincha, with USD 234.9 million in premiums, ranks 138th in Latin America. In El Salvador, SISA leads with USD 218.8 million, holding the 145th position regionally. Guatemala's El Roble Seguros y Fianzas tops the market with USD 332.2 million in premiums, ranking 102nd in Latin America.
Ficohsa Seguros is the leading insurer in Honduras, with premiums totaling USD 156.3 million and ranking 178th in the region. Mexico's GNP Seguros is a major player with USD 5874.5 million in premiums, placing it third in Latin America. In Nicaragua, Seguros América leads with USD 69.5 million in premiums, ranking 271st regionally.
Panama's top insurer, ASSA, collects USD 443.3 million in premiums, securing the 84th spot in the Latin American ranking. Paraguay's leading insurer, MAPFRE, has USD 72.5 million in premiums, ranking 265th regionally. Peru's market is led by RIMAC, with USD 1603.7 million in premiums, placing it 24th in the Latin American ranking.
Seguros Universal is the top insurer in the Dominican Republic with USD 412.4 million in premiums, ranking 89th in Latin America. Uruguay's leading insurer, BSE, boasts USD 1547.5 million in premiums, earning the 27th position regionally. Finally, in Venezuela, Mercantil Seguros leads with USD 190.8 million in premiums, ranking 159th in Latin America.
This ranking reflects the diverse and competitive landscape of the insurance market in Latin America, with significant variations in market size and regional rankings. Brazil and Mexico stand out as the regional leaders, while other countries show a mix of local and international insurers leading their markets. The rankings also illustrate the disparity in market size and insurance penetration across different Latin American countries.
