Minister Juan Alberto Fuentes Knight argued that the country is vulnerable to climate change, and remarked that the State should also generate reserve funds and negotiate precautionary loans.

Newspaper Sigloxxi.com also published comments by Raul Aguilar, president of the Guatemalan Insurers Association (AGIS): “The state owns assets such as bridges, the National Theatre, buildings, etc. They should insure them, as other countries do”.

Source: sigloxxi.com

More on this topic

Guatemala: Insurance Market Up 9%

October 2017

The insurers' association has reported a 9% increase in premiums generated in September this year.

Enrique Murillo, executive director of the Guatemalan Association of Insurance Institutions (AGIS), told Elperiodico.com.gt that "... the total premiums generated in September 2017 is $708 million, while up to the same month last year the figure was $640 million."

Guatemala: Insurance Policies Up 10% in 2014

January 2015

The segment of medical expenses policies registered the largest increase, up 26% over the previous year.

The Guatemalan Association of Insurance Institutions (AGIS) is looking to give greater impetus to reinsurance this year, as currently only one third of the total premiums are ceded to reinsurers.

Guatemala: The Potential of The Insurance Sector

February 2014

The sector's share in GDP is only 1.2 %, whereas in El Salvador and Costa Rica it amounts to 2.1% and 2% respectively.

The insurance market in Guatemala has a lot of potential for growth. The share of this sector in the Gross Domestic Product (GDP) is 1.2 %, as opposed to El Salvador and Costa Rica where it is 2.1 % and 2% respectively.

Insurer BUPA Comes to Guatemala

August 2011

The British Insurance giant BUPA expects to start operations in late 2011 or early 2012.

The company plans an investment of $2 million for its initial operation in the country, and hopes to expand its activities, said Anthony Cabrelli, chairman of BUPA for Latin America and the Caribbean.