Cahda, an association representing the Honduran insurance industry, recently announced that net profits for the industry rose 19% in 2008 to 559 million lempiras (approximately US $29.9 million). The association also announced that total premiums grew by 14.3% to 5.344 billion lempiras (approximately US $281 million).
For the year, the top four companies by net profit were reportedly Seguros Atlantida (196 million lempiras), Interamericana de Seguros (90 million lempiras), the Honduran subsidiary of HSBC (78.1 million lempiras) and Seguros Crefisa (40.9 million lempiras).
By industry sector, total premiums reportedly grew as follows: general insurance (13.1%), life (20.1%), auto (17.5%), accident and health (14.9%) and fire (10.0%). By total premium, general insurance made up 56.1% of the Honduran insurance market in 2008, followed by life (25.7%) and accident and health (16.0%).