Page 287 - Evento Guatemala 2012
P. 287
Venezuela
In 2010, Venezuela’s currency was devalued and this is the reason for the decline shown between
2009 and 2010. 2011 figures were estimated; i.e., we had the total figures for 2011, but not the
breakdown by line. So, we made a projection trying to maintain the previous year relation.
Anyway, there was a 24% growth. So we assume that in 2011 surety bonds were growing hand
in hand with the rest of the lines.
Surety bonds in Venezuela: premium and annual growth
300,000 05-06 06-07 07-08 08-09 09-10 10-11* 120%
250,000 100%
200,000 105% 263,577 250,637.93 80%
150,000 101% 60%
100,000 66% 40%
'000 USD 50,000 31% 66% 23% 24% 20%
190,981.47
- 0%
31% 159,164 154,453.95 24% -20%
121,064 -40%
-5% -60%
-5%
60,267
2005 2006 -38%
2007 2008 2009 2010 2011*
Surety Premiums Growth in USD dollars Growth of local currency
*Figures projected at December 2011.
Surety bonds in Venezuela: surety bond premiums (percentage of all lines)
3.00% 1.83% 2.47% 2.22% 2.55% 1.94% 1.78% 1.78%
2.50%
2.00% 2005 2006 2007 2008 2009 2010 2011*
1.50%
1.00%
0.50%
0.00%
* Figures projected at December 2011.
285XXIV Asamblea General / XXIV General Assembly