Swiss Re to publish L&H insurance study
In the first quarter of 2014, Reinsurer Swiss Re will publish a report containing insights into consumer behaviours in Latin America in relation to the life and health insurance markets.
The report will provide forward-looking insights about consumer behaviors and to facilitate market and product planning, Swiss Re is working on a survey aimed at examining risk perceptions and buying attitudes of the region's consumers, and recent changes, especially after the global financial crisis and a string of major natural catastrophes hitting Latin America.
The life & health (L&H) insurance industry represents an important and dynamic sector of the world’s economy, and Latin America also has a very important share of potential future insurance buyers.
However, the industry has struggled in the past to exploit the opportunity, and life insurance penetration remains below world-wide average levels. In 2012 life insurance penetration was 1.28 percent of the region's GDP, well below the world average of 3.69 percent.
Last September, Swiss Re launched the ‘Mortality Protection Gap in Latin America’ study, revealing that the total mortality protection gap in eight major Latin American countries is $7.2 trillion.
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