Seguros Assa to Enter Guatemala and Honduras

Grupo Assa de Panamá plans to complete its presence in Central America by opening operations in Honduras and Guatemala.

Wednesday, June 13, 2012

Panama's Grupo Assa is currently doing business in Panama, Costa Rica, Nicaragua and El Salvador, and has recently, entered the insurance market in Colombia with 40% stake in Cardinal Seguros.

The group now plans to invest in Guatemala and Honduras, while studying further expansion in South America, aiming to become a multinational insurance group said the director, Stanley Motta, to Larepublica.co.

"Right now we're looking [at South America]. There's nothing concrete that we could announce but we are watching the market and possibilities. We definitely want to do something in Guatemala and Honduras, which is a part of Central America we have yet to enter. Towards the south countries are growing and there is a clear policy which helps to activate the market", said Motta.

"Everyone is looking at Latin America as a great opportunity and I agree with that vision", he added.

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Panamanian Insurer Enters Colombia

May 2012

Grupo Assa is the largest shareholder of Cardinal Insurance, a company that began operations in Colombia offering compliance, guarantees and legal liability policies.

Grupo Assa of Panama has entered the insurance market in Colombia under the banner of Cardinal Insurance, after a successful expansion in Costa Rica, El Salvador and Nicaragua.

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May 2012

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Assa Acquires Metropolitan Insurance Company

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