Panama: Insurance Market Up 4%

Between January and October 2017, premiums grew 4% compared to the same period in 2016, explained in part by a 9% increase in health insurance and 14% in collective life insurance.

Tuesday, January 9, 2018

Figures published by the Comptroller General of the Republic indicate that premiums in the Individual Life insurance sector registered an increase of 4.4%, while those of Health increased 9%. On the other hand, collective life insurance premiums increased 14.3%. 

Auto insurance premiums grew 4% in the period in question, while those for Other Transports fell almost 18%.

See figures. 

More on this topic

Tender for Insurance Policies

November 2014

The Honduran Social Investment Fund is putting out to tender life and medical insurance policies for all staff at the institution.

Honduras Government Purchase FHIS-14-2014 LPN-LPN-FHIS-14-2014:

"Acquisition of Life Insurance and Medical Insurance for Employees of the Honduran Social Investment Fund (FHIS)."

Increase in Sales of Health Insurance in Costa Rica

November 2014

Between January and September revenue from sales of these policies increased by 74% compared to the same period in 2013, with the sale of group insurance policies to companies being the factor driving the growth.

According to data from the Superintendent of Insurance, in January-September, the sector as a whole has accumulated $116 million in premiums for such policies.

Private Insurers Sell More Personal Policies

June 2012

Two new companies sold 17% of this sector of the Costa Rican market.

Panamerican Life and Seguros de Alico are the main rivals of the National Insurance Institute (INS), with a share of 14% of the personal insurance policies sold in the Costa Rican market, while other private companies control 4%.

INS Not Able to Develop Alliance with Foreign Insurance Companies

February 2009

The National Institute of Insurance of Costa Rica was not successful in formalizing an alliance with the businesses Alico and Pan-American Life to initiate a line of personal insurance.

Mercedes Agüero, in her article in Nacion.com, writes: "As a coalition of these companies, INS attempted to start a line of personal insurance, especially for life and medical expenses—an untapped niche market due to the 84-year state monopoly."

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