El Salvador: 12% Less Insurance Sales Expected in 2009

The Commercial Agricultural Insurance Company (ACSA) projects to close the year 2009 with business volume at $65 million, 12% less than expected.

Wednesday, February 11, 2009

Laprensagrafica com reports: “The goal is smaller due to the fact that ACSA works according to the behavior of the economy, which is in crisis,” they indicated.

“Last year the institution grew 20% and reported $58.2 million in sales for the company.”

More on this topic

$1 Billion to Be Raised by Panamanian Insurance Industry

April 2011

The country's insurance industry has started the year positively with growth above 15% in the first two months.

The insurance sector grew by 8.46% last year, reaching $918 million, meaning that if this year's trend continues the sector could be worth more than $1 billion by the end of 2011 according to the head of Panama's insurance regulator, Luis Della Togna.

Five Insurers Dominate Panamanian Market

January 2012

Internacional de Seguros and ASSA are the industry leaders of a sector that netted $936 million in premiums in 2011, a 16% growth.

Five companies control the insurance market in Panama: Internacional de Seguros, ASSA, Mapfre Panamá, Assicurazioni Generali and Aseguradora Ancón.

Panamanian Insurance Market

March 2011

Premiums rose by 9.5% in 2009 and 8.5% in 2010, reaching $ 918 million in total.

Insurance rating company A.M. Best published a report on the insurance sector in Panama, highlighting it as the largest in Central America and noting also that significant growth is expected in the coming years, supported by increased tourism, construction and Panama's efforts to implement transparent financial and tax laws.

Panama: Vehicle Sales Boost Insurance Sector

May 2012

Insurers sold premiums worth $273.7 million in the first quarter, largely due to vehicle insurance.

An increase in the number of vehicles, rising prices for parts and road realignment works are factors in a higher number of claims, which has led to an increase in insurance sales.

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