Panama: Insurance Market Stagnates in 2019

Last year, premiums of Ch$1,567 million were written in the country, a figure that did not change significantly from the Ch$1,569 million reported in 2018.

Monday, February 17, 2020

Figures from the General Comptroller of the Republic detail that between 2018 and 2019 premiums in the branch of fire and multi-risk insurance registered a 5% increase.

On the other hand, automobile premiums decreased 2% for the years in question, and in the case of personal accidents the increase reported was 8%.

Regarding the amount disbursed for claims, between 2018 and 2019 a rise of 5% was reported, from $719 million to $754 million.

See full report (in Spanish).

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Insurance: Panamanian Market Not Rebounding

January 2020

In the first ten months of 2019, premiums of $1,265 million were subscribed in the country, 2% more than reported in the same period of the previous year, a rise that is less than the 5% year-on-year variation reported up to October 2018.

According to the last report of the General Comptroller of the Republic, between the first ten months of 2018 and the same period of 2019, fire and multi-risk insurance premiums recorded a 12% increase.

Insurance: Incentives to Attract More Customers

October 2019

Discounts in fitness centers, in dental services or in consultations with psychologists, are some of the benefits offered by insurance companies in Costa Rica to maintain their portfolio of clients and attract new ones.

The National Insurance Institute (INS), Sagicor, Pan American Life Insurance, Océanica de Seguros and Mapfre, are some of the competitors in the Costa Rican market that offer this type of privileges in their policies.

Insurance: Salvadoran Market Increases to 9%

September 2019

During the first six months of this year, net premium income totaled $395 million, 9% more than reported in the same period in 2018, an increase explained by life and fire policies.2

According to data from the Salvadoran Association of Insurance Companies (ASES), between the first half of 2018 and the same period in 2019, net premium income grew by $34 million, from $361 million to $395 million.

Insurance Market Continues to Rise

June 2018

In Panama during the first four months of the year $491 million was written in premiums, which is 3% more than the $375 million reported in the same period in 2017.

Statistics from the Superintendency of Insurance show that during the first four months of 2018, the three insurance companies that wrote the largest proportion of these premiums were Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá, with 20%, 17%, and 16%, respectively.

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