Little Growth in Salvadoran Insurance Market

Representatives from the sector stated that in 2017 premiums totalled $627 million, which meant an increase of just 1% with respect to the figures reported in 2016.

Monday, March 19, 2018

According to the Salvadoran Association of Insurance Companies (Ases) last year's performance was associated with lower demand in some sectors, greater competition and a volume of risks that has not increased substantially.

In relation to the results of the sector in 2017, Pedro Geoffroy, president of Ases, explained to Laprensagrafica.com that " ... there are several factors that explain the result, it is still necessary to see data from this year to determine if it is a tendency or a bad year. Regarding assets, reserves and penetration, the sector remains robust."

The article adds that " ...Last year insurers paid 50.23% of all premiums, $315 million. In 2016 the figure was $321 million and in 2015, $331; which means that the country has reduced its claims."

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More on this topic

Insurance in Guatemala: Growth Slows Down

January 2019

During 2018, Guatemala's insurance sector increased 3% year-on-year, well below the 8% growth rate reported between 2016 and 2017.

According to figures presented by the Guatemalan Association of Insurance Institutions (AGIS), between 2017 and 2018 the total of premiums subscribed in the country went from $881 million to $907 million.

Insurance Market Still Stagnant

August 2018

Between the first semester of last year and the same period in 2018 the value of premiums written in El Salvador saw almost no change, following the line of the weak growth of 1% reported between 2016 and 2017.

According to the Salvadoran Association of Insurance Companies (ASES), insurers reported premiums of $306.5 million in June of this year, which is equivalent to an increase of just 0.11% compared to the $306.2 million recorded up to the same month in 2017.

Insurance Market - I Quarter 2018

May 2018

According to the union of insurers in El Salvador, between January and March net premiums totalled $149 million, 2% less than the $152 million reported in the same period in 2017.

After registering a modest 2% growth between 2016 and 2017, representatives of the Salvadoran Insurance Association (ASES) reported that during the first quarter of the year a 2% drop in contracted premiums was reported, compared to the months from January to March 2017. 

Panama: What and How Much in the Insurance Market

March 2018

Three insurers distributed 52% of the premiums generated in January of this year, which in total amounted to $129 million.

In the first month of 2018, the three insurance companies that subscribed the largest proportion of the premiums were Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá, with $32 million, $19 million and $16 million, respectively.

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