Market Research Report
Strategic Market Intelligence: Insurance Industry in Paraguay - Key Trends and Opportunities to 2023
|Published by||GlobalData||Product code||805277|
|Published||Content info||101 Pages
Delivery time: 1-2 business days
|Strategic Market Intelligence: Insurance Industry in Paraguay - Key Trends and Opportunities to 2023|
|Published: March 8, 2019||Content info: 101 Pages||
The Paraguayan insurance industry is supervised and regulated by The Superintendent of Insurance (SIS), a division of the Central Bank of Paraguay. Composite insurance is not permitted in the Paraguayan insurance industry, but both life and property insurance companies can underwrite and sell accident and health insurance. According to existing tax legislation, a 3% withholding tax is imposed on reinsurance premiums paid to non-resident reinsurance companies issuing reinsurance contracts covering insurance risks arising in the country. Insurance business is taxed at the standard value added tax rate of 10%, except for life insurance products and services. Employees are required to pay 9% of their gross salary to social security. Employers also contribute social security taxes at a rate of 16.5% of the gross salary of each employee.
The report "Strategic Market Intelligence: Insurance Industry in Paraguay - Key Trends and Opportunities to 2023", provides a detailed outlook by product category for the Paraguayan insurance industry, and a comparison of the Paraguayan insurance with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, claims paid, commissions and expenses, combined ratio, total assets, total investment income and net earned premium during the review period (2014-2018) and forecast period (2018-2023). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Paraguayan economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together research, modeling and analysis expertise, giving 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.
Companies mentioned: Mapfre Seguros SA Paraguay, SA Consolidated Insurance, Aseguradora del Este SA, Yacyreta Aseguradora SA, Tajy Aseguradora SA, Sancor Seguros del Paraguay SA, Security Insurance Company SA, Patria SA, Aseguradora Paraguaya SA, General Insurance Group SA, Aseguradora del Este SA, Cenit de Seguros SA, Patria SA, Security Insurance, Nappy General Insurance, Seguros Generales SA (SEGESA), Mapfre Seguros SA Paraguay, Regional SA