Reporter María De Gracia writes in her article on the website Pa-digital.com.pa, that “growth during the first quarter of this year is around 11% due to the shrinking of the economy.”

As of April 2009, the insurance field in Panama has 27 competitors. Just in 2008, the Panamanian Superintendency of Insurance and Reinsurance authorized operating licenses to 11 insurance and reinsurance companies.

Among the new companies in the sector are: "Banesco Seguros, Seguros Constitución, Eastern Pacific Insurance Company, Premier Seguros International, and Global Property and Surety."

Source: pa-digital.com.pa

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Latin America: The Golden Child for Insurers

May 2013

During the first half of 2012, the insurance sector in Latin America had a premium volume of $77,085 million, maintaining growth rates of two digits.

According to César Quevedo, deputy director of the Institute of Science at Seguro de Fundación Mapfre, the insurance industry is "key" to this global market.

Aseguradora Mundial Authorized in Costa Rica

July 2009

The Panamanian insurer, owned by regional conglomerate Grupo Mundial, would operate in Costa Rica in 4 months.

As the insurance market opens in Costa Rica, Sociedad Aseguradora Mundial S.A. is the first foreign capital company to be authorized by the Pensions Superintendence (Supen, spanish acronym) to compete with the state's "Instituto Nacional de Seguros" and "Sociedad de Seguros del Magisterio" the first Costa Rican competitor.

Panamanian Insurers After Women’s Market

April 2009

They offer specials such as discounts and vouchers for cosmetic surgery to women who acquire vehicle insurance.

According to the Panamanian Superintendent of Insurance, women are attractive as customers because they have a lower risk of accidents.

That is why insurance companies offer discounts and coupons exclusively for women such as a 50% deductible discount, vouchers for cosmetic surgery or discounts of up to 5% if you are an executive older than 25.

Panamanian insurance companies pay 53% more

November 2008

In 2008 the insurance companies have paid $84.6 million more in claims than for the same period in 2007.

The expenses incurred by insurers for total claims paid out as of September were $241.8 million, or $84.6 million more than for the same period in 2007 when the payments totaled $157.2.