Insurance: New Competitor in El Salvador

Atlántida Vida insurance company started operations in the local market and will be focused on the life and health sector.

Thursday, January 30, 2020

The new participant, which will start with a capitalization of $6.2 million and is projected to reach $10 million in premium income, belongs to the Honduran business group Inversiones Atlántida.

You may be interested in "El Salvador: Multiple Insurance Tenders"

Regarding the products that will be available, reviews that they will offer "... hospital medical insurance (individual and collective), life insurance, personal accident insurance, disability and death insurance and decreasing debt insurance. In the future, they hope to offer the insurance product with savings to encourage young people to have a policy with the possibility of returning as savings after a period of time. They will serve the public between the ages of 18 and 65 with policies starting at $10,000."

The group's short-term growth plans include the creation of new products during 2020.

Carlos Marcelo Olano, general manager of Atlántida Vida, explained that "... by the end of February, they will deliver the papers to the Superintendence of the Financial System for the creation of Atlántida Seguros Generales, which will mean another investment of about $6 million and is expected to go to the damage market in October."

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