Insurance in Venezuela: 94% hold no policy, and the regulator just lowered the barrier

There is a market in Venezuela that grew 17.7% in the first half, bills on the order of six hundred fifty million dollars in six months, and reaches six out of every hundred inhabitants. The other ninety-four are not outside it for lack of interest: they are outside because the product that exists was not designed for them, and because opening a file costs more than the premium they would pay. In mid-August the sector supervisor issued a circular that addresses exactly that second obstacle, and it does so with an exclusion that defines where the real opportunity sits.

Venezuela's insurance market booked US$652.9 million in net written premiums through the close of the first half of 2026, per figures consolidated by the Superintendency of Insurance Activity. That is a 17.7% rebound against the same period a year earlier, and it follows a start to the year in which the sector's net result multiplied several times over. In a country where nearly every indicator reads against a depressed base, this one has been growing consistently.