Personal Accident and Health Insurance Claims and Expenses in Guatemala to 2016: Market Databook by Timetric

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									Personal Accident and Health
Insurance Claims and Expenses in
Guatemala to 2016: Market Databook


Reference Code: IN2967DB
Published: March 2013




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TABLE OF CONTENTS

1         INTRODUCTION .......................................................................................................... 5
    1.1      What is this Report About? .................................................................................................. 5
    1.2      Definitions ........................................................................................................................... 5
2         INDUSTRY ANALYSIS ................................................................................................ 7
    2.1      Gross Claims....................................................................................................................... 7
    2.2      Gross Claims Forecast ........................................................................................................ 8
    2.3      Paid Claims ......................................................................................................................... 9
    2.4      Paid Claims Forecast ........................................................................................................ 10
    2.5      Incurred Loss .................................................................................................................... 11
    2.6      Incurred Loss Forecast...................................................................................................... 12
    2.7      Loss Ratio % ..................................................................................................................... 13
    2.8      Loss Ratio % Forecast ...................................................................................................... 14
    2.9      Combined Ratio % ............................................................................................................ 15
    2.10     Combined Ratio % Forecast.............................................................................................. 16
3         APPENDIX ................................................................................................................. 17
    3.1      Methodology...................................................................................................................... 17
    3.2      Contact Us ........................................................................................................................ 17
    3.3      About Timetric ................................................................................................................... 17
    3.4      Our Services ..................................................................................................................... 17
    3.5      Disclaimer ......................................................................................................................... 19




Personal Accident and Health Insurance Claims and Expenses in Guatemala to
2016: Market Databook                                                                                                                       Page 2

© Timetric. This product is licensed and is not to be photocopied
                                                                                                                          Published: March 2013
LIST OF TABLES

Table 1: Insurance Industry Definitions........................................................................................................... 5
Table 2: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Gross Claims (US$
Billion), 2007-2011 ......................................................................................................................................... 7
Table 3: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Gross Claims (GTQ
Billion), 2007-2011 ......................................................................................................................................... 7
Table 4: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Gross Claims (US$
Billion), 2011-2016 ......................................................................................................................................... 8
Table 5: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Gross Claims (GTQ
Billion), 2011-2016 ......................................................................................................................................... 8
Table 6: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Paid Claims (US$ Billion),
2007-2011 ..................................................................................................................................................... 9
Table 7: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Paid Claims (GTQ Billion),
2007-2011 ..................................................................................................................................................... 9
Table 8: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Paid Claims (US$ Billion),
2011-2016 ....................................................................................................................................................10
Table 9: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Paid Claims (GTQ Billion),
2011-2016 ....................................................................................................................................................10
Table 10: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Incurred Loss (US$
Billion), 2007-2011 ........................................................................................................................................11
Table 11: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Incurred Loss (GTQ
Billion), 2007-2011 ........................................................................................................................................11
Table 12: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Incurred Loss (US$
Billion), 2011-2016 ........................................................................................................................................12
Table 13: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Incurred Loss (GTQ
Billion), 2011-2016 ........................................................................................................................................12
Table 14: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Loss Ratio %
(Percentage), 2007-2011 ..............................................................................................................................13
Table 15: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Loss Ratio %
(Percentage ), 2011-2016 .............................................................................................................................14
Table 16: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Combined Ratio %
(Percentage), 2007-2011 ..............................................................................................................................15
Table 17: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Combined Ratio %
(Percentage), 2011-2016 ..............................................................................................................................16




Personal Accident and Health Insurance Claims and Expenses in Guatemala to
2016: Market Databook                                                                                                                                 Page 3

© Timetric. This product is licensed and is not to be photocopied
                                                                                                                                   Published: March 2013
LIST OF FIGURES

Figure 1: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Gross Claims (US$
Billion), 2007-2011 ......................................................................................................................................... 7
Figure 2: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Gross Claims (US$
Billion), 2011-2016 ......................................................................................................................................... 8
Figure 3: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Paid Claims (US$ Billion),
2007-2011 ..................................................................................................................................................... 9
Figure 4: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Paid Claims (US$ Billion),
2011-2016 ....................................................................................................................................................10
Figure 5: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Incurred Loss (US$
Billion), 2007-2011 ........................................................................................................................................11
Figure 6: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Incurred Loss (US$
Billion), 2011-2016 ........................................................................................................................................12
Figure 7: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Loss Ratio %
(Percentage), 2007-2011 ..............................................................................................................................13
Figure 8: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Loss Ratio %
(Percentage ) 2011-2016 ..............................................................................................................................14
Figure 9: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Combined Ratio %
(Percentage), 2007-2011 ..............................................................................................................................15
Figure 10: Guatemalan Personal Accident & Health Insurance Claims and Expenses; Combined Ratio %
(Percentage) ,2011-2016 ..............................................................................................................................16




Personal Accident and Health Insurance Claims and Expenses in Guatemala to
2016: Market Databook                                                                                                                                 Page 4

© Timetric. This product is licensed and is not to be photocopied
                                                                                                                                   Published: March 2013
1 INTRODUCTION

1.1     What is this Report About?

       This report is the result of extensive research into the personal accident & health insurance market in
       Guatemala, providing historic and forecast data on the following personal accident & health insurance
       claims and expenses segments -

         Gross Claims
         Paid Claims
         Incurred Loss
         Loss Ratio%
         Combined Ratio


1.2     Definitions

       All data is collected in local currency. All conversions into US dollars (US$) of current and forecast data
       are made at the 2011 average annual conversion rate. All values in tables are displayed to one or two
       decimal places.

       For the purposes of this report, the review period is 2007–2011 and the forecast period is 2012–2016.

       The key insurance industry terms covered in the report are defined below:


       Table 1: Insurance Industry Definitions
        Term                    Definition

                                Bancassurance is the partnership between a bank and an insurance company in which the insurance
        Bancassurance
                                company uses the bank sales channel to sell insurance products.

                                Ceding company is the primary insurer which transfers some of its insurance risk by ceding a certain
        Ceding Company
                                portion of its total written premium through an insurance contract.

                                Incurred loss is the sum of claims paid by an insurance company and the change in the provision for
        Incurred Loss
                                outstanding claims, irrespective of whether or not they have been reported.

        Claims Ratio            Claims ratio is claims payable as a percentage of premium income.

                                Commission and Expenses is the sum of acquisition costs and administrative costs. Acquisition cost is a
        Commission and
                                certain percentage of premium produced that is retained as compensation by insurance agents and
        Expenses
                                brokers.

        Comprehensive loss
                                Comprehensive loss ratio is the ratio of claims incurred and net premium earned.
        ratio

                                Earned premium is the amount of premiums that a company has earned by providing insurance against
        Earned Premium
                                various risks during the year by ceding a certain portion of the written premium to reinsurance.

                                A life insurance scheme in which the term of the policy is defined for a specified period such as 1
								
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