Insurance industry needs more capital in Honduras

The Central Bank of Honduras has increased the minimum amount of capital required for insurers and re-insurers by amounts ranging from 262,881 dollars to 788,643.

Friday, July 25, 2008

The demand for capital is independent of the request for higher reserves for insurers.
Under the rules, the monetary authority reviews capital requirements every two years. The amount is based on economic growth of the nation, which was 6.3 percent in 2007.

More on this topic

Hondurans to Buy Insurance in Guatemala

January 2017

Ficohsa Group has announced the acquisition of 100% of the capital of the company Seguros Alianza, which will be operated through the subsidiary Ficohsa Seguros.

The formalization of the transaction was recently approved by the Superintendency of Banks of Guatemala and the Superintendency of Panama.   

Banco de Costa Rica Requests $30 million from CII

December 2011

The Banco de Costa Rica (BCR) has requested a $30 million loan to strengthen its capital and to provide financing to SMEs.

A press release from the Inter American Investment Corporation (CII in Spanish) reads:

Loan funds will be used by the CII to strengthen the bank's assets and to improve financing of Costa Rican SME’s, with loans of up to $500,000.

Guatemala: Insurance Profits Increase

February 2011

The profits reported by insurers in 2010 were $ 32.7 million, 11.4% higher than 2009.

The information comes from data from the Superintendence of Banks and also states that in 2009 profits reported a 22.6% growth compared to 2008.

"The report submitted to Congress by the head of SIB, Victor Mancilla, explains that the return on capital invested by insurance companies increased from 17.4% in 2008 to 18.1% last year.

Panama insurers report 31 percent increase in first-quarter premiums

May 2008

Panama-based insurance companies wrote US$236 million in premiums in the first quarter, a 31 percent increase on the same period of last year.

Mauricio De la Guardia, president of the Panamanian Insurance Association, said the rate of growth was likely to be maintained in the second quarter as well.

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