Five Insurers Dominate Panamanian Market

Internacional de Seguros and ASSA are the industry leaders of a sector that netted $936 million in premiums in 2011, a 16% growth.

Monday, January 23, 2012

Five companies control the insurance market in Panama: Internacional de Seguros, ASSA, Mapfre Panamá, Assicurazioni Generali and Aseguradora Ancón.

The market leaders are Internacional de Seguros – a company that has been in the country for a hundred years – and ASSA, which controlled 17.98% and 17.09% of the market in September 2011, according to figures from the Superintendency of Insurance and Reinsurance of Panama as reported by Prensa.com. Both companies are followed by Mapfre Panama , with 12.47%, Assicurazioni Generali SpA, with 6.15% with Aseguradora Ancón with 8.71%.

"The industry shows an increase in activity of 15.71%, making it the top performer in the Central American region, which in total, according to analysts, will close (2011) with an increase of 7%," the website reported.

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