Bolivia Insurance Industry – Key Trends and Opportunities to 2027
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Bolivia Insurance Market Report Overview
The gross written premium of the Bolivia insurance market was BOB5.2 billion ($746.5 million) in 2022. The market is expected to achieve a CAGR of more than 8% during 2023-2027. The Bolivia insurance market research report provides in-depth market analysis, information, and insights into the Bolivia insurance industry. It provides a detailed outlook by product category as well as values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period.
Bolivia Insurance Market Outlook, 2022-2027 (BOB Billion)
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The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bolivian economy and demographics, and provides detailed information on the competitive landscape in the country. The report gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Market Size (2022) | BOB5.2 billion ($746.5 million) |
CAGR (2023-2027) | >8% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2022 |
Key Segments | · Life Insurance
· General Insurance |
Leading Companies | · Nacional Vida
· Alianza Vida · La Boliviana · La Vitalicia · Alianza · Unibienes · Bisa · Ciacruz |
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Bolivia Insurance Market Trends
- Migrant insurance and e-commerce are some of the key trends impacting the Bolivia insurance market.
- Migrant insurance provides coverage for accidents (including accidental deaths), medical expenses, and burials.
- It is now possible for customers to receive quotes for purchase and pay for pet insurance entirely online, reducing paperwork on both sides.
Bolivia Insurance Market by Segments
The general insurance segment dominated the Bolivia insurance market in 2022.
The key segments in the Bolivia insurance market are life insurance and general insurance. General insurance lines of business include property, motor liability, financial lines, MAT, general insurance PA&H, and miscellaneous. Motor was the largest general insurance LOB in 2022, followed by property insurance and non–life PA&H insurance. Life insurance lines of business include whole life, general annuity, term life, pension, life PA&H, and other life. Term life insurance had the highest share in 2022.
Bolivia Insurance Market Analysis by Segments, 2022 (%)
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Bolivia Insurance Market – Competitive Landscape
Nacional Vida Seguros de Personas was the largest insurer in 2022.
The key companies in the Bolivia insurance market are:
- Nacional Vida
- Alianza Vida
- La Boliviana
- La Vitalicia
- Alianza
- Unibienes
- Bisa
- Ciacruz
Nacional Vida Seguros de Personas was followed by Alianza Compania de Seguros y Reaseguros and Alianza Vida. Unibienes Seguros y Reaseguros Patrimoniales was the fastest-growing company. The Bolivian insurance industry does not permit composite insurers and non-admitted insurance.
Bolivia Insurance Market Analysis by Companies, 2022 (%)
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Bolivia Insurance Market – Latest Developments
- On June 15, 2022, National Insurance Bolivia, Profin Foundation and Sudamericana Corredores de Seguros announced the launch of ‘Ayllu’ insurance for Bolivian migrants who reside in Argentina.
- On March 10, 2022, National Insurance Bolivia launched an e-commerce portal.
- On June 17, 2022, National Insurance Bolivia partnered with the delivery app ‘Yaigo’ to enable consumers to buy Covid Express and Pet Seguro.
Segments Covered in the Report
Bolivia Insurance Market Segments Outlook (Value, BOB Billion, 2018-2027)
- Life Insurance
- General Insurance
Scope
This report provides:
- A comprehensive analysis of the Bolivia insurance industry.
- Historical values for the report’s review period and projected figures for the forecast period.
- Detailed analysis of the key categories in the Bolivia insurance industry and market forecasts for 2027.
- Profiles of top life insurance companies in Bolivia and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Bolivia insurance industry.
- A comprehensive overview of the Bolivia economy, government initiatives, and investment opportunities.
- The Bolivia insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Bolivia insurance industry’s market structure gives details of lines of business.
- Bolivia’s reinsurance business’s market structure gives details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the Bolivia insurance industry and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Bolivia insurance industry.
- Assess the competitive dynamics in the Bolivia insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Alianza Compania De Seguros y Reaseguros
Bisa Seguros y Reaseguros
La Boliviana Ciacruz Seguros y Reaseguros
Alianza Vida De Seguros y Reaseguros
Seguros y Reaseguros Credinform International
Seguros y Reaseguros Personales Univida
Nacional Seguros Patrimoniales y Fianzas
Table of Contents
Frequently asked questions
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What was the Bolivia insurance market gross written premium in 2022?
The gross written premium of the Bolivia insurance market was BOB5.2 billion ($746.5 million) in 2022.
-
What is the growth rate of the Bolivia insurance market?
The insurance market in Bolivia is expected to achieve a CAGR of more than 8% during 2023-2027.
-
Which segment dominated the Bolivia insurance market in 2022?
The general insurance segment dominated the Bolivia insurance market in 2022.
-
Who are the major companies operating in the Bolivia insurance market?
The key companies in the Bolivia insurance market are Nacional Vida, Alianza Vida, La Boliviana, La Vitalicia, Alianza, Unibienes, Bisa, and Ciacruz.
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