Insurance: Panamanian Market Slows Down

From January to August 2019, premiums of $1.026 million were subscribed, surpassing by 3% the $997 million reported in the same period of 2018, an increase lower than the 5% increase reported in July.

Tuesday, October 22, 2019

According to the most recent figures from the General Comptroller's Office of the Republic, between the first eight months of 2018 and the same period of 2019 the premiums for fire and multi-risk insurance registered a 16% increase.

On the other hand, automobile premiums decreased by 1% for the periods in question, and in the case of personal accidents the reported increase was 8%.

Regarding the amount disbursed for claims, between January and August 2018 and the same period this year a 2% increase was reported, going from $481 million to $489 million.

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Accident Insurance: Sales up 7%

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In the first eleven months of 2019, premiums were written in the country for Ch$1,395 million, and sales of personal accident insurance grew 7% over the same period last year.

Figures of the General Comptroller of the Republic detail that between the first eleven months of 2018 and the same period of 2019, fire and multi-risk insurance premiums recorded a 10% increase.

Insurance in Panama: Market Figures up to 1st Semester

August 2019

Between January and June 2019, premiums increased 4% compared to the same period in 2018, partly because of a 5% increase in health policies and 6% in group life insurance.

The latest data published by the General Comptroller of the Republic indicate that between the first half of 2018 and the same period of 2019 the premiums of the branch of fire and multi-risk insurance registered a 12% increase.

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 Up 3%

September 2018

In the first seven months of this year in Panama, $864 million worth of premiums were written, an amount that exceeds by 3% the value reported in the same period in 2017.

According to figures from the Superintendency of Insurance and Reinsurance, between the first seven months of 2017 and the same period in 2018, the value of subscribed premiums went from $839 million to $864 million.

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