Honduras Insurance Industry – Key Trends and Opportunities to 2028

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Honduras Insurance Market Report Overview

The gross written premium of the Honduras insurance market was HNL16.5 billion ($672.3 million) in 2023. The market is expected to achieve a CAGR of more than 9% during 2024-2028. The Honduras insurance market research report provides a detailed outlook by product category for the Honduras insurance industry.

Honduras Insurance Market Outlook, 2023-2028 (HNL Billion)

Honduras Insurance Market Outlook, 2023-2028 (HNL Billion)

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The Honduras insurance market report provides 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 (2019–23) and forecast period (2024–2028). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Honduras economy and demographics, and provides detailed information on the competitive landscape in the country.

Market Size (2023) HNL16.5 billion ($672.3 million)
CAGR (2024-2028) >9%
Forecast Period 2024-2028
Historical Period 2019-2023
Key Segments ·       General Insurance

·       Life Insurance

Key Companies ·       Mapfre Seguros

·       Ficohsa Seguros

·       Seguros Atlantida

·       Seguros Bolivar

·       Others

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Honduras Insurance Market Trends

The key trends impacting the Honduras insurance market are parametric insurance and regulation on cybersecurity.

Honduras was the fourth Central American country to join the CCRIF, signing an agreement with CCRIF to purchase parametric insurance coverage for excess rainfall in June 2023. As a result, the Government of Honduras can quickly initiate recovery efforts after natural disasters. Insurance payouts received within 14 days of an event can be used to address the country’s most urgent needs, including assisting vulnerable segments of the population, rehabilitating critical infrastructure, and other areas that require immediate attention.

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Honduras Insurance Market by Segments

The key segments in the Honduras insurance market are life insurance and general insurance. The general insurance segment dominated the Honduras insurance market in 2023. The key lines of business in the Honduras general insurance market are property, motor, liability, financial lines, MAT, general insurance PA&H, and miscellaneous. Property insurance was the dominant line of business in 2023, driven by higher premium rates and increased demand for natural catastrophe and commercial property policies.

Honduras Insurance Market Analysis by Segments, 2023 (%)

Honduras Insurance Market Analysis by Segments, 2023 (%)

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Honduras Insurance Market – Competitive Landscape

A few of the key companies in the Honduras insurance market are Mapfre Seguros, Ficohsa Seguros, Seguros Atlantida, and Seguros Bolivar, among others. Ficohsa Seguros was the largest provider in 2023, followed by Mapfre and Seguros Atlantida.

Honduras Life Insurance Market Analysis by Companies

Honduras Life Insurance Market Analysis by Companies

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Download a Free Report Sample Segments Covered in the Report

Honduras Insurance Market Segments Outlook (Value, HNL Billion)

  • Life Insurance
  • General Insurance


This report provides a comprehensive analysis of the Honduras insurance industry –

  • It provides historical values for the Honduras insurance industry for the report’s 2019–23 review period, and projected figures for the 2024–28 forecast period.
  • It offers a detailed analysis of the key categories in the Honduras insurance industry and market forecasts to 2028.
  • It profiles the top life insurance companies in Honduras and outlines the key regulations affecting them.

Key Highlights

  • Key insights and dynamics of the Honduras insurance industry.
  • A comprehensive overview of the Honduras economy, government initiatives, and investment opportunities.
  • The Honduras insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
  • The Honduras insurance industry’s market structure gives details of lines of business.
  • Honduras’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 Honduras insurance industry, and each category within it.
  • Understand the demand-side dynamics, key market trends, and growth opportunities in the Honduras insurance industry.
  • Assess the competitive dynamics in the Honduras insurance industry.
  • Identify growth opportunities and market dynamics in key product categories.

Ficohsa Seguros
Mapfre Seguros Honduras
Seguros Atlantida
ASSA Compania de Seguros
Pan American Life Insurance Company (Honduras)
Seguros del Pais
Seguros Crefisa
Seguros Equidad

Table of Contents

Executive Summary

Economy Overview

Regulation and Compliance

Key Market Trends

Life Insurance: Trends and KPIs

General Insurance: Trends and KPIs

General Insurance: LOB

Competitive Landscape



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