Life Insurance: Claims Increase

From January to June 2020 in Nicaragua, the amount paid by insurers for life insurance increased by 54% compared to the same period in 2019, a rise that could be explained by the health crisis generated by the spread of covid-19.

Friday, July 31, 2020

Although the Nicaraguan government had only 116 deaths from covid-19 as of July 28, the numbers of insurance companies competing in the local market reflect another reality.

You may be interested in "Financial Services: Business Potential in Central America"

Audry Figueroa, executive director of the Nicaraguan Association of Private Insurance Companies (Anapra), explained to Laprensa.com.ni that the "... increase in the number of life insurance claims is due to illnesses associated with covid-19."

Figueroa added that "... We cannot say that it is because of covid-19, as no tests are being carried out, but there has been an increase in claims due to respiratory infections, heart attacks, which are associated diseases, and this increase has been notable from March to date."

Figures from the Superintendence of Banks and Other Financial Institutions (Siboif) show that between the first half of 2019 and the same period in 2020, the amount disbursed by insurers for life insurance increased from $6.5 million to $9.9 million.

Do you need to understand the new environment of the insurance market? Contact Us








this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423


More on this topic

Tourist Attraction and Travel Costs

August 2020

Because Costa Rica requires foreign visitors to take out a local policy, which costs more than $275 for a two-week stay, tour operators are asking that insurance taken out abroad be accepted as an incentive for tourist arrivals.

After more than four months of the country's borders being closed to tourists, commercial flights resumed on Aug. 3 with the arrival of an Iberia plane carrying more than 200 passengers from Spain.

Panama: Insurance Market Up 5%

December 2018

In the first ten months of this year, premiums of $1.245 million were subscribed in the country, exceeding in 5% the value reported in the same period of 2017.

The most recent data from the Superintendence of Insurance and Reinsurance detail that between the first ten months of 2017 and the same period of 2018, the value of premiums subscribed went from $1,188 million to $1,245 million.

Insurance Premiums Rise in Guatemala

October 2011

The increase can be explained by changes in accounting practices generated by the application of the law on Insurance Activity .

The enforcement of the law earlier this year has had a significant impact on premiums collected by insurance companies in the country.

Between January and September, the company received $447 million in net premiums directly, whereas in the same period last year this figure was $357 million.

Panama: 286% Increase in Insurance Payments

May 2011

In the first quarter, insurers have paid claims for damages of $139.2 million more than in the same period in 2010.

According to the Superintendent of Insurance and Reinsurance the payments for claims in the first quarter totaled $187.8 million, 286% higher than the $48.6 in the same period of 2010.

 close (x)

Receive more news about Insurance

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Professional ink refill franchise for sale

Ink and toner refills with latest generation machinery exclusively for the franchisee in Central America, investment opportunity with fast return.
Ink and toner refills with latest generation machinery...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Oct 27)
Brent Crude Oil
41.410
Coffee "C"
110.00
Gold
1,911
Silver
24.330