Venezuela's Insurance, Companies & Insurance Quote

Venezuela is a Caribbean country and is the sixth largest country in the continent of South America, bordered by Caribbean Sea and Atlantic Ocean to the north, Brazil to the south, Guayana to the east and Colombia to the west.

The Venezuela insurance market comprises of health as well as automobile insurance constituting almost 80% of the premiums. There are other insurance in Venezuela offering cover for personal accidents, and casualty or property as well. The focus is on developing medium and small size business clients and emphasis is in meeting their demands.

Market status

The insurance premium for 2008 January to November increased by 5.8% in comparison to the same period earlier year 2007. In 2008 November 50 insurance entities were there in Venezuela with premiums accounting to USD 9.07 billion in 2008 January to November. It is forecasted to show growth in the future years.

Top providers

Insurance providers in Venezuela were many in 1994 that included companies such as Seguros Caracas. They presented a solid financial setup and demonstrated profitable growth. However, since their acquisition they are trying to satisfy their customers through improved services.

The sector of insurance in Venezuela includes large banks dealing with insurance and having own insurance companies. But, there are not many insurance companies owning banks. The Venezuela insurance has major providers namely, Seguros Caracas de liberty Mutual C.A. with over 50 years experience.

This company is one of the top providers of automobile insurance and offers health, personal accident, life, property as well as casualty products and workers compensation cover for individuals and businesses.

Insurance providers in Venezuela also include C.N.A. Seguros la Previsor, a leading provider for various types of insurance products in the insurance market. Seguros Venezuela is also a company dealing with insurance in Venezuela from 1948 and is the largest and respected insurance companies.

Seguros Ban Valor is also handling insurance in Venezuela. This company also offers insurance products in various ranges and has good administration. The other insurance companies are Seguros la Seguridad, Seguros Catatumbo and C.A. Seguros la Occidental. All these companies have good reputation in the insurance market and offer good range of insurance products.