New players hope to benefit from health and crop insurance

Uruguay is unique in the region by having nearly half its population covered by private health insurance

Despite deregulation which came into effect in 1993 with the first foreign operator ( Mapfre) entering the market in 1995, the Uruguay insurance market continues to be dominated by the state-owned Banco de Seguros del Estado. The institution, founded in 1911, still has some statutory monopolies such as all business from state entities, as well as work-related accident cover and some sureties.