Panama's Potential in Reinsurance

The country aims to position itself as an international or reinsurance hub, where companies meet the needs of other companies in Latin America

Monday, June 18, 2012

The Superintendent of Insurance and Reinsurance, Luis Della Togna, said there is already interest from several companies, including Lloyd's of London, who see opportunities for growth in the region.

According to an article in Prensa.com, "From Panama these companies could attend to insurers in Latin America.

In the 1980 there were more than 12 reinsurance companies in Panama, who left the country due to the political situation, but after several years outside of this business the country is waking up and looking to become a sustainable market in the short term. "

In 2010 insurance activities saw an increase of 14.6%, with total sales of $1.052 million in premiums.



More on this topic

Panama Boosts Reinsurance Market

September 2014

The Superintendent of Insurance is preparing a bill to promote market development by encouraging the installation of foreign reinsurance companies in the country.

The bill, still in draft form, aims to attract major reinsurance companies to the country and use the market already operating in the country as a platform.

Panama as an International Reinsurance Center

September 2013

A law intends to attract reinsurance companies, by giving them the same benefits enjoyed by the Headquarters of Multinational Corporations.

The information was confirmed by the Panamanian superintendent Luis Della Togna, who added that the project could be ready before the end of the year.

Panama: New Reinsurance Law Being Drafted

April 2013

With the amendment of Law 63 of 1996 it is intended that international reinsurers will invest in the country making it a hub for the whole continent.

According to Luis Della Togna, Superintendent of Insurance and Reinsurance of Panama, a draft has been drawn up which amends the law and thereby strengthens supervision, control and regulation of the sector.

Large Scale Reinsurers in Panama?

July 2012

The canal country aims to become an International Centre for Reinsurance, for which it will need to make the place more competitive and gain more acceptance in global markets.

According to an article in Capital.com.pa "The Panamanian insurance market is experiencing a period of readjustment in all its regulatory apparatus, a new law governing the sector has already been implemented, and now they are working on draft bills to regulate the sector and one for reinsurance brokers. "

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