At a glance: Ecuador's top 5 insurers thirty-four insurers were operating in Ecuador last calendar month. Among them were local players such as state of matter heavyweight Seguros Sucre and subsidiaries of foreign companies like Mapfre and Liberty. Ecuador, the region ‘s one-eighth largest economy, punches barely above its system of weights in terms of premium book. last year, the total premium book in Ecuador in US dollars was US $ 1.62bn, according to data from reinsurer Swiss Re.

While the figure is bantam compared with Brazil ‘s US $ 72.6bn, Ecuador is the No. 7 player in the area by agio book in US dollars. however death year the state suffered the biggest contraction of all in nominal and substantial terms in the area, at 27.5 % and 28.7 %, respectively. swiss Re cited natural disasters such as the April 2016 earthquake as contributing factors. And the state experienced dangerous flood this year, which may dent 2017 bounty volume. Ecuador posted US $ 347mn in life premium volume in 2016 ( down from US $ 355mn ) and US $ 1.27bn in non-life agio volume ( down from US $ 1.88bn ). Premiums per caput in US dollars in Ecuador were low, at US $ 98.8 compared with US $ 346 for Brazil and US $ 643 for Chile, which is seen as having one of the most mature markets in the region. only the Dominican Republic and Guatemala had lower figures, at US $ 82.6 and US $ 48.4, respectively. The swiss Re report does not include data for Venezuela. This calendar month, local newspaper Expreso reported that the aggregate capital of the sector was US $ 245mn, up from just over US $ 100mn three years ago, after authorities ordered insurers to increase their capital by at least US $ 8mn. At least four firms may not have met the requirements by the September 12 deadline, the paper said, citing local insurance association Fedeseg. Panelists surveyed by research firm Focus Economics forecast this month that Ecuador ‘s GDP would expand 0.6 % this class and 0.9 % next. A healthier vegetable oil export market could spur growth, although the country has recently experienced political convulsion which could impact economic prospects.

TOP 5 No. 1 The biggest player was state-run P & C and biography insurance company Seguros Sucre, which reported US $ 127mn in net written premiums for August, giving it a 12 % commercialize share, down from 14 % in August 2015, according to data from regulator Supercias. No. 2 Another local player, P & C insurance company Equinoccial, held the No. 2 spot, posting US $ 101mn, giving it a 10 % marketplace share, flat compared with death year. No. 3 The local unit of ball-shaped P & C giant Chubb posted US $ 94.8mn, giving it a 9 % market partake, up from 8 %. No. 4

local life and P & C insurance company Pichincha held No. 4 spot, posting US $ 81.7mn, for an 8 % marketplace share, up from 7 %. No. 5 The local anesthetic whole of ball-shaped general insurance company and reinsurer QBE Colonial posted US $ 77.6mn, giving it a market share of 7 %, down from 9 %.

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