Figure · Insurance in hard numbers
Insurers' treasury yielded half of what the bolivar devalued
Venezuelan insurers had $186.2 million placed at the close of 2025. In the fourth quarter, that money yielded between 31% and 34%.
In the same quarter, the bolivar devalued 68%.
It is not interest: no bolivar instrument pays that in a quarter. Nor is it pure dollars, because it yields less than half the devaluation. The study concludes it is mostly an exchange gain. It comes from a portfolio that is only half indexed.
Between 46% and 50% of assets behave like dollars. That is a ceiling, not an exact measurement.
For a C-suite executive, the consequence is a scenario. If the bolivar stabilizes, the indexed half stops producing. The sector is left with its underwriting loss.
- 31–34%
- is what the money the sector has placed yielded in the fourth quarter of 2025
- Source: C4Accel study, series Insurance in hard numbers · medium confidence
- 68%
- is how much the bolivar devalued in that same quarter
- Source: C4Accel study, series Insurance in hard numbers · high confidence
- 46–50%
- of the sector's assets behave like dollars; it is a ceiling
- Source: C4Accel study, series Insurance in hard numbers · medium confidence
- $186.2 million
- is what the sector had placed as of December 31, 2025
- Source: C4Accel study, series Insurance in hard numbers · medium confidence
Read the article: Venezuelan insurers do not make money insuring: they make it in the treasury