Panama Insurance Sector Grows 9.4%

From January to May, the volume of hired policies was $318.1 million, 9.43% more than the same period of 2008.

Wednesday, July 22, 2009

Theft policies registered the larger increase (40.3%), followed by fire protection (31.09%). Health insurance grew 14.13% and automotive policies increased 5%.

José Miguel Pinzón, Padeco Insurance comptroller, declared in a Prensa.com article that "... the economic situation in the auto market has worsened, and this is reflected in the insurance market".

More on this topic

Panama: Insurance Market in March 2015

May 2015

In the first quarter of the year, total premiums in the country totaled $338 million, 5% more than in the same period last year, driven by automobile insurance.

Vehicle insurance is the most in demand, reporting $63 million in premiums from January to March 2015, representing an increase of 11.8% compared to the same period last year.

Insurance Trends in Nicaragua

September 2014

Auto policies are the fastest growing category, with an increase of 14% so far this year compared to 2013.

Lack of a culture of prevention is preventing the emerging Nicaraguan insurance market from achieving high growth rates in most policies. Car policies are the most sought after, but those for life, property and health are growing slowly.

Insurance Policies Up 12% in Panama

August 2014

The amount of premiums written during the first half of 2014 totaled $657 million, which is 12% more than in the same period in 2013.

Of the total of premiums paid in the first six months of the year, health insurance, group life and car policies accounted for about 45%. In the case of auto insurance, one of the fastest growing in the country, the total was $112.4 million, 9.78% more than in the first half of 2013.

Insurance in Panama Grows By More than 8%

January 2013

From January to December 2012, sales of insurance premiums reflected an increase of 8.16%, reporting a total of more than $138,635,000.

Panamaamerica.com.pa reports that "up to December 2012 were offered 85 million 879 thousand 82 dollars more than the previous year, which shows that consumers are becoming aware of the importance of having an insurance policy, indicated entrepreneurs from the insurance and reinsurance sectors in Panama. "

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