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
   282   283   284   285   286   287   288   289   290   291   292