According to recently released figures, total insurance premiums grew by 30% in Ecuador in 2008, from $678.4 million to $883.7 million. The growth was fueled by increasing awareness and purchase of personal lines insurance, which make up the great majority of the Ecuadorian insurance market. For example, total premiums for life insurance increased 34% in 2008.

The most significant sectors in the Ecuadorian insurance market in 2008 were automobile ($223.6 million in premiums), life ($161.6 million) and fire ($96 million).