Panama insurance market calm in midst of the crisis
The huge American insurer has interest in the local market via AIG Panama and American Life Insurance Co, a branch of Alico Delaware, whose main holding in the US is owned by AIG.
Wednesday, September 17, 2008
The manager of AIG Panama preferred not to comment on the topic. However, Alico's manager, Mauricio Ruiz, said that when it comes to their company there will be "absolutely" no damage suffered.
The Panamanian branch assures that the sale of Alico to Metlife they enables them to offer more services in the country.
Through this acquisition, PALIG will increase its already considerable business in Panama and Costa Rica, while expanding its presence in the Caribbean.
A report by Fitch notes the momentum in the insurance sector in Central America and its growth potential.
Grupo Assa de Panamá plans to complete its presence in Central America by opening operations in Honduras and Guatemala.
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