The projected increase for 2018 and 2019 would be based on the behavior of the Panama, Costa Rica and Guatemala markets, however, the increases of 5.8% and 6.1% forecast for 2018 and 2019, respectively, would represent a slowdown regarding the 8.2% growth registered in 2017.

According to the report "Perspectivas Fitch Ratings de 2019: Sector de Seguros de Centroamérica", it is foreseen "... a solid credit profile for insurers, thanks to higher growth expectations in the largest markets in the region. Panama, Costa Rica and Guatemala would remain leading the growth of this industry in Central America."

Milena Carrizosa, Fitch's director, explained to Elmundo.sv that "... The credit profile of the insurance sector in Central America will remain unchanged with a positive trend in 2019, considering the continuous improvement in technical profitability and forecasts of higher GDP growth in the region."

According to the agency, in 2019 "... An economic recovery is expected in Panama and a constant improvement in Costa Rica, Guatemala and El Salvador."

Source: elmundo.sv

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