Insurance Market Continues to Rise

In Panama during the first four months of the year $491 million was written in premiums, which is 3% more than the $375 million reported in the same period in 2017.

Tuesday, June 26, 2018

n dir="ltr">Statistics from the Superintendency of Insurance show that during the first four months of 2018, the three insurance companies that wrote the largest proportion of these premiums were Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá, with 20%, 17%, and 16%, respectively.

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Good Figures for Regional Insurance Market"

Laestrella.com.pa reports that "...The highest amount of written premiums corresponded to the sectors of health ($120 million), automobiles ($98 million), life insurance ($70 million), individual life ($55 million), fire ($42 million), bonds ($41 million), and others ($30 million), technical lines ($14 million), civil liability ($13 million), personal accidents ($10 million), cargo transportation ($7 million), hull ($5 million), theft ($2 million) and multi-risk ($2 million)."

"The accident rate on average reflected an increase of 48.3%, with Mafpre having the highest reported rate (74.1%), Assa had 45.1%, and Internacional de Seguros 43.0%."

See official statistics..

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More on this topic

Insurance: Panamanian Market Grows to 4%

July 2019

During the first five months of the year, premiums of $643 million were written, 4% higher than the $619 million reported for the same period in 2018.

Statistics from the Superintendence of Insurance show that from January to May 2019, the three insurance companies subscribing the highest proportion of market premiums were Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá, with 26%, 16% and 15% respectively.

Insurance Market Grows up to March 2018

May 2018

In Panama during the first three months of the year $367 million was written in premiums, which is 2% more than the $360 million reported in the same period in 2017.

During the first quarter of 2018, the three insurance companies that wrote the largest proportion of these premiums were Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá, with $70 million, $62 million and $56 million, respectively.

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 Disaster Payments Up 55%

May 2013

Insurers paid $133 million to their customers during the first quarter of 2013, $47 million more than in 2012.

"The biggest financial outlays occurred in the lines of auto, health and fire, $29.7 million, $28 million and $16.3 million respectively," noted an article in Laestrella.com.pa.

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