Outlook for Central American Insurance Industry in 2013

Fitch estimates that premiums in the region should grow measuredly, with the greatest dynamism seen in Costa Rica, the second insurance market in the region.

Thursday, January 31, 2013

A statement from Fitch Ratings reads:

Fitch Publishes 2013 Prospects for the Insurance Sector in Central America.

The outlook on the ratings of insurance companies in different markets of Central America will remain stable in 2013. It is noteworthy that many of the ratings assigned to insurers in the region benefit from the support of their controlling shareholders, which mostly have appropriate risk ratings.

Fitch estimates that premiums in Central America should grow measuredly (7.0% in 2012 and 6.4% in 2013), led by the Costa Rican insurance market, the second largest in the region. Fitch believes that Costa Rica will maintain a strong momentum, which is still expanding after opening up to private competition in 2008. The penetration of the industry will remain around 2% below the levels of the major markets of South America (up 3%).



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Seguros Assa to Enter Guatemala and Honduras

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Grupo Assa de Panamá plans to complete its presence in Central America by opening operations in Honduras and Guatemala.

Panama's Grupo Assa is currently doing business in Panama, Costa Rica, Nicaragua and El Salvador, and has recently, entered the insurance market in Colombia with 40% stake in Cardinal Seguros.

Good Prospects for Insurance Companies

May 2012

A report by Fitch notes the momentum in the insurance sector in Central America and its growth potential.

From the report by Fitch Central America is entitled "Performance of Insurance Industry Central America: Well Positioned for Growth ":

The insurance industry in Central America managed to increase premium production by 12% compared to 2010, where Panama, Guatemala and Honduras recorded an above-average growth.

Insurance in Central America: Performance and Prospects

January 2012

A Fitch Special Report on the insurance industry in Central America indicates a stable outlook with conservative growth.

SUMMARY

Insurance penetration remains stable.
Fitch estimates that at the end of 2011, premiums for the insurance sector in Central America will be U.S.

Insurance Industry El Salvador: 'Solid Before the Storm'

October 2010

Fitch Ratings highlights the liquidity of the insurance market in El Salvador for the first semester.

At the end of the first half of 2010, liquidity in the Salvadoran insurance market was far superior to that of other Central American countries, and even recorded an improvement over the end of the first half of 2009.

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