1. Andrea Keenan Assistant Vice President, Economic & Industry Research
XXIII Asamblea Annual de ASSAL Round Table Discussion: Market Developments April 25, 2012
Andrea Keenan
Assistant Vice President, Economic & Industry Research

2. Talking Points Insurance Market Potential
Global comparison
Aggregate growth drivers
Country Risk and Obstacles to Growth
How risk assessment is developed
Country risk in the region

3. Economic Growth in Latin America

4. Premium Growth in Latin America
Projection

5. GDP Per Capita Drives Insurance Market Penetration

6. GDP Per Capita in Latin America
Trendline

7. Country Risk
The risk that country-specific factors could adversely affect an insurer’s ability to pay its financial obligations
CRT-1
Economic Risk
Macroeconomy
Prospects
Government Finance
Political Risk
Business Environment
Government Stability
Social Stability
Legal System
Financial System Risk
Non-Insurance
Insurance
Banking System
Reporting Standards & Regulation
Sovereign Debt
Government & Legislation
Supervisory Authority
Insurer Accountability
Lowest Risk
CRT-3
Moderate Risk
Quick overview
CRT-5
Highest Risk

8. Country Risk in Latin America
CRT
Argentina 4
Guatemala 5
Bolivia
Honduras
Brazil 3
Mexico
Chile 2
Nicaragua
Columbia
Panama
Costa Rica
Peru
Ecuador
Venezuela
El Salvador

9. Country Risk Relates to Insurance Market Development

10. Corruption Perceptions Index World Bank Doing Business
Political Risks
Corruption Perceptions Index
(higher score implies less perception of corruption)
World Bank Doing Business
Rank out of 183 countries

11. Degree of Government Intervention
World Average

12. For additional information
Andrea Keenan