Total premiums grew by 11% during 2013 and amount to $1.046 billion, the highest figure since the market opened in 2008.
During 2013, the total insurance market grew by 11% and total premiums added up to $1.046 billion, while in 2008 the figure was $611 million. Life policies and motor were the most popular during 2013.
Data from the Superintendent of Insurance (SUG) reveals that sales of car insurance premiums increased by $38.6 million in the last two years, of which $9.6 million related to 2013. Up to December, total premiums placed in that category amounted to $232 million.
The donation will be delivered in three instalments, with the first $7.5 million handed over when the bilateral agreement is signed.
From a press release issued by the Government of Panama:
The governments of Panama and Taiwan signed Monday May 6 an act of donation of the first instalment to build a hospital in Bocas del Toro, which will bring great benefits to the province and the region of Ngabe Bugle.
Although they have not yet reached the volume of sales before the 2008 crisis, growth in cement is an encouraging sign.
Due to the economic crisis which affected the construction sector, the sale of cement had fallen 20% since 2007. This year it has rallied and reported growth of 10%, but still hasn’t attained the 2007 levels, said Carlos Castillo, regional vice president of Cementos Progreso.