Panama Insurance companies in the middle of strong competition

So far this year seven new companies have entered the country. Four are already set up and have plans for 2009, but making a name is no easy feat.

Wednesday, December 3, 2008

Eastern Pacific Insurance Company, Banesco Seguros and Seguros Constitución are all companies with Venezuelan capital. Permier, another company which already has a license to operate, and BBA Corp. (which just got its license) are also from Venezuela. Joining this group is the Multinacional de Seguros which just bought Ancon Insurance. Ace will be the only of the nine companies that is from the United States.

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Statistics on Private Insurers in Costa Rica

June 2013

Pan American Life and Assa accumulate 6% of the market, reporting up to May 2013 accumulated income of $12 million.

According to the Superintendent of Insurance (SUG) these two companies have the largest reported income. "Other market participants with significant shareholdings are Mapfre Seguros with revenues of $7 million and Aseguradora del Istmo with $4.5 million," noted an article in Elfinancierocr.com.

New Insurer Enters Guatemalan Market

June 2011

Best Meridian Insurance Company (BMI) has entered the market by acquiring the license to operate from Aseguradora Mundial-Colectivos Empresariales.

BMI, is a company dedicated to the health, life, disability and financial services insurance and has a $7 billion portfolio of over 200 thousand customers.

Three Insurance Companies Dominate in Panama  

June 2013

During the first quarter of this year, the sum of the premiums of Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá was around $198 million.

This ranking of premiums prepared by the Superintendency of Insurance and Reinsurance of Panama, shows that Assa Compañía de Seguros comes first in the list with $80.3 million (20.18% market share), followed by Compañía Internacional de Seguros, with $65.3 million (16.41%) and Mapfre Panama in third place with $52.3 million and 13.13% of market share.

Costa Rica: Insurance Market up to March 2015

May 2015

The reduction of 30% in premium income from compulsory work risk insurance accounted for most of the 8% decline in revenues from total premiums up to March.

In March general insurance and personal insurance maintained the upward trend that had been seen the previous months, with growth rates compared to the same month in 2014 of 6.1% and 8.3%, respectively.

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