Panama insurers report 31 percent increase in first-quarter premiums
Panama-based insurance companies wrote US$236 million in premiums in the first quarter, a 31 percent increase on the same period of last year.
Tuesday, May 27, 2008
Mauricio De la Guardia, president of the Panamanian Insurance Association, said the rate of growth was likely to be maintained in the second quarter as well.
Growth in claims was double the growth in premiums in December 2015 in the Panamanian insurance market.
Insurers sold premiums worth $273.7 million in the first quarter, largely due to vehicle insurance.
Fitch Ratings expects moderate growth in premiums in Costa Rica, increased interest in personal insurance in Guatemala, and stable performance in Nicaragua and Honduras.
Since January a downward trend has been noted in premiums receivable by insurance companies operating in the country, reaching $232 million in September.
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