Panama: Insurance Sector Grew 27%

During 2008, Panamanian insurance companies subscribed premiums for $776.6 million, with growth of 27.47% in the sector.

Thursday, July 2, 2009


Reporter María De Gracia writes in her article on the website, that “growth during the first quarter of this year is around 11% due to the shrinking of the economy.”

As of April 2009, the insurance field in Panama has 27 competitors. Just in 2008, the Panamanian Superintendency of Insurance and Reinsurance authorized operating licenses to 11 insurance and reinsurance companies.

Among the new companies in the sector are: "Banesco Seguros, Seguros Constitución, Eastern Pacific Insurance Company, Premier Seguros International, and Global Property and Surety."

More on this topic

Latin America: The Golden Child for Insurers

May 2013

During the first half of 2012, the insurance sector in Latin America had a premium volume of $77,085 million, maintaining growth rates of two digits.

According to César Quevedo, deputy director of the Institute of Science at Seguro de Fundación Mapfre, the insurance industry is "key" to this global market.

Insurance: First Half 2009 and Outlook for 2010

January 2010

Fitch Central America published a special report called "Central American Insurance Sector: Performance in the First Half of 2009 and Outlook for 2010".

Despite the economic contraction of Central American economies in the first half of 2009, the region's insurance industry grew 3% (excluding Panama) when compared to the same period of 2008, reaching $928.1 million in net premiums.

Insurance Market in Costa Rica up to March 2014

May 2014

The state run Nacional de Seguros and PanAmerican Life share 88% of the market in the segment of accident and health policies.

The segment for Accident and Health policies showed that up to March 2014 the majority market share was held by Instituto Nacional de Seguros (INS) with 46.4% and 41.7% was held by Pan American Life, according to the Superintendent of Insurance (SUGESE).

Aseguradora Mundial Authorized in Costa Rica

July 2009

The Panamanian insurer, owned by regional conglomerate Grupo Mundial, would operate in Costa Rica in 4 months.

As the insurance market opens in Costa Rica, Sociedad Aseguradora Mundial S.A. is the first foreign capital company to be authorized by the Pensions Superintendence (Supen, spanish acronym) to compete with the state's "Instituto Nacional de Seguros" and "Sociedad de Seguros del Magisterio" the first Costa Rican competitor.

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Aseguradora Ancón

Organization that operates in Panama.
Phone: (507) 210-8787

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