11% more Insurance Contracts in Panama

In the first seven months of the year insurers have sold policies for $528.9 million, 11.38% more than in the same period of 2009.

Tuesday, September 21, 2010

$91.7 million worth of insurance was sold in July alone, a 12.54% increase when compared to the same month of last year.

“The industry is recovering from successive -1.08% and -0.47% drops in May and June respectively. Industry insiders had argued that these variations were isolated events and not part of a larger trend”.

More on this topic

Panama Insurance Market in May 2016

July 2016

Health insurance recorded the highest growth, going from $95 million in subscribed premiums up to May 2015 to $106 million in the same month in 2016, which is an increase of 11%.

Between May 2015 and May 2016 the total amount of premiums written in the first five months of the year rose from $555 million to $566 million in the same period this year.

Panama: Insurance Market in March 2015

May 2015

In the first quarter of the year, total premiums in the country totaled $338 million, 5% more than in the same period last year, driven by automobile insurance.

Vehicle insurance is the most in demand, reporting $63 million in premiums from January to March 2015, representing an increase of 11.8% compared to the same period last year.

Panama: Insurance Sales Up 18%

July 2013

During the first five months of 2013 $97 million worth was sold, predominantly in the categories of car insurance, health and group life policies.

According to Carlos Berguido, director of the Panamanian Association of Insurers (Apadea), the increase is attributed to the immediate responses to claims by owners of insurers, resulting in consumers acquiring more policies, because of the trust inspired by claims being paid quickly.

Insurance Up 11% in Panama

November 2010

In September premiums issued totaled $ 665 million, 11.3% higher than the same period of 2009.

Insurers "Compañía Internacional de Seguros"; ASSA Insurance Company and "Aseguradora Mundial" represented 49.1% of all insurance sales, a total of $ 327.6 million.

"Some of the most issued premiums from January to September 2010 were bonds, which captured 67.4 million dollars, a 89% increase from last year, followed by multi risk insurance products..." reported La Estrella.

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