Ecuador’s insurers record bumper growth since 2000 dollarisation

Nine-month premiums up 15% • Penetration levels remain low in the smaller regional markets of Uruguay and Paraguay

Insurance premiums in Ecuador increased by 15% in the first nine months of 2005 to US$395mn. The rise looks set to make 2005 another growth year for the market which has seen premiums rocket since 2000 when the country became the first in South America to adopt the dollar as its official currency.