Mutual and cooperative insurers in Latin America reported record premium volumes in 2013, accordingly to the latest figures published by ICMIF’s Business Intelligence department.
The Market InSights: Latin America 2013 report shows how the mutual and cooperative insurance sector collectively wrote over USD 19 billion in insurance premiums in 2013, a 4% growth from the previous year. Since 2007, mutual/cooperative insurers have been the fastest-growing part of the Latin American market, resulting in an increase in their market share from 8.8% to 10.6% in 2013.
The report includes year-on-year analysis of the premium growth of mutual and cooperative insurers since 2007, with comparison to the rest of the insurance sector. The report also includes growth by business line (life and non-life), asset growth, and a definitive list of the largest mutual/cooperative insurers by 2013 premium income.
The Market InSights reports from ICMIF are a series of market-specific reports compiled using the latest data from ICMIF's Global Mutual Market Share research, a market intelligence report on the size and performance of the global mutual and cooperative insurance industry. The latest year-end 2013 figures highlight that the mutual and cooperative model has been the fastest-growing part of the global insurance industry since 2007.