Boston, MA -- (SBWIRE) -- 01/03/2014 -- The Venezuelan personal accident and health insurance segment accounted for the second-largest share of overall insurance industry premiums during the review period (2007-2011). With rising healthcare expenditure and mandatory health insurance for retirees, the disabled and low-income families, the health insurance category increased at a CAGR of 30.6% during the review period. The lack of skilled personnel in government health institutions, and unavailability of specialized treatment are driving the Venezuelan population towards private healthcare in the country. The Venezuelan health insurance category led the personal accident and health insurance segment with a 97.0% share in 2012. Over the forecast period (2012-2016), rising consumer awareness of health insurance is anticipated to be backed by rising healthcare expenditure and is expected to drive the segment.

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Key Highlights

- With rising healthcare expenditure and mandatory health insurance for retirees, the disabled and low-income families, the health insurance category increased at a CAGR of 30.6% during the review period
- Personal accident and health insurance policies are primarily distributed in Venezuela through insurance brokers, followed by agencies
- During the review period, the health category dominated the personal accident and health segment with a market share of 97.0% in 2012
- The travel insurance category is the smallest in the segment, with a market share of 0.4% in written premium terms
- Horizonte was the leading company in the segment, and accounted for 17.4% of the segment's written premiums in 2012

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Venezuela:

- It provides historical values for Venezuelan personal accident and health insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key categories in Venezuela's personal accident and health insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for personal accident and health insurance products in Venezuela
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Venezuela for the personal accident and health insurance segment
- It provides a detailed analysis of the reinsurance segment in Venezuela and its growth prospects
- It profiles the top personal accident and health insurance companies in Venezuela and outlines the key regulations affecting them

Reasons to Get This Report

Companies Mentioned in this Report: Seguros Horizonte CA, Seguros Caracas de Liberty Mutual, CA, Seguros Mercantil CA, CA de Seguros La Occidental, CNA de Seguros La Previsora, Mapfre la Seguridad CA de Seguros, Seguros Altamira CA, Seguros Federal CA, Seguros Qualitas, CA, Multinacional de Seguros CA

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