ASSA Compañía Tenedora, S.A. and ASSA Compañía de Seguros (ASSA) and American International Group, Inc. (NYSE:AIG) today announced that they have entered into a share purchase agreement under which, ASSA will acquire 100 percent of AIG’s operations in Central America located in El Salvador, Guatemala, Honduras and Panama.
The transaction is subject to regulatory approvals in each country.
A memorandum of understanding has been signed for the development of the Information Society and the modernization of public administration in the Republic of Panama.
From a press release published by Red.es in Spain:
The CEO of Red.es, Borja Adsuara and general manager of the National Authority for Government Innovation in the Republic of Panama (AIG), Eduardo Jaen, have signed a memorandum of understanding for the development of the Information Society and modernization of public administration in the Republic of Panama.
"For the sector's improvement, it will be key to adjust fees for products with high accident rates, as well as more careful subscription"
By the end of June 2009, net premiums had grown at an inflation adjusted rate of 9.8%, although lower growth should be expected for the end of the year, due to worse economic performance. Growth in individual insurance was remarkable (14% average), specially in collective life and accident and health, while general damage insurance saw a 7% increase.
The Panamanian Aseguradores Association (APADEA), is a non-profit organisation, that was created in 1952 with the objective of developing, enlarging and coordinating the activity of the insurance market throughout Panama.
Operates in Panama
Phone: (507) 225-4445