Insurance Companies Interested in Guatemala

Insurers BUPA and MD International have expressed their intention of entering the Guatemalan market, just weeks after congress passed the Bill for Insurance Activity.

Friday, July 23, 2010

BUPA is based in England while MD International is from the United States. Both reportedly asked the Banking Superintendence for information on the permits and procedures required to operate in the country.

“According to Edgar Barquín, head of the Superintendence, the only company that has formally requested authorization to operate is BUPA. He acknowledged that two other companies have requested information, but they are waiting for the law to come into effect, so they don’t want their names publicly revealed”, noted

More on this topic

Bupa Insurance Arrives in Guatemala

August 2010

The insurance company has initiated the process of entering the Guatemalan market with the aim of beginning operations in January 2011.

Bupa plans to invest $5 million over the next three years, its Latin American planning and strategy manager, Ricardo González, told

Bolivar Insurance Enters Costa Rica

May 2010

The insurer is owned by a Panamanian company called “Riesgo e Inversiones Bolivar S.A.”, a member of corporate group “Grupo Empresarial Bolivar”.

Called “Seguros Bolívar Aseguradora Mixta S.A.”, the company will offer individual and general insurance, and could become the eight insurer authorized to operate in the country.

Costa Rican Insurance Market Starts To Move

March 2010

The insurance companies authorized to operate in the country have made combined guarantee deposits for $33 million.

These deposit vary from insurer to insurer, depending on the range of products they intend to offer. reported that companies offering individual and general insurance will have to deposit $8.8 million.

Insurance companies from Panama study possibility of setting up in Costa Rica

September 2008

The opening of the insurance market in Costa Rica is in full process, and this sounds like music to the ears of the three main Panamanian insurance firms.

Aseguradora Mundial (Worldwide Insurance), ASSA Compañía de Seguros (ASSA Insurance Company) and Compañía Internacional de Seguros (International Insurance Company) which rank at first, second and third place in the Panama market, are analyzing entering Costa Rica's market.

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