Latin America and Caribbean Insurance Market Report 2015

Insurance markets in the Latin America and Caribbean region continued to be largely stable in 2014, with the majority of countries seeing either flat or falling insurance rates.

Venezuela continues to be the most challenging market for insureds in Latin America, with rising rates across numerous lines of coverage.

Insurance markets in the Latin America and Caribbean region continued to be largely stable in 2014, with the majority of countries seeing either flat or falling insurance rates, according to the Latin America and Caribbean Insurance Market Report 2015.

Other key findings from the report:

• Insureds continue to benefit from the willingness of local and international insurers to provide innovative solutions to the growing economies of Latin America, as well as the capacity needed to keep insurance rates relatively stable — despite the increased demand for coverage in several lines.
• Venezuela continues to be the most challenging market for insureds, with rising rates across numerous lines of coverage.
• Rate increases were also seen across several lines of coverage in countries such as Argentina, Brazil, Peru, Puerto Rico, and Uruguay.
• Health insurance coverage was the most challenging line in 2014, with insurance prices increasing on average in nine of the 10 markets Marsh covers in the region.
• The trends above are expected to continue for the most part in 2015.