Insurance Companies Interested in Guatemala
Insurers BUPA and MD International have expressed their intention of entering the Guatemalan market, just weeks after congress passed the Bill for Insurance Activity.
Friday, July 23, 2010
BUPA is based in England while MD International is from the United States. Both reportedly asked the Banking Superintendence for information on the permits and procedures required to operate in the country.
The insurance company has initiated the process of entering the Guatemalan market with the aim of beginning operations in January 2011.
The insurance companies authorized to operate in the country have made combined guarantee deposits for $33 million.
The insurer is owned by a Panamanian company called “Riesgo e Inversiones Bolivar S.A.”, a member of corporate group “Grupo Empresarial Bolivar”.
The opening of the insurance market in Costa Rica is in full process, and this sounds like music to the ears of the three main Panamanian insurance firms.
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