Panama: Less Growth in the Insurance Sector

During the month of April, growth in new premiums was 4.47%, while it was 27.36% during the same period of 2008.

Friday, June 19, 2009

According to estimates by the Superintendencia de Seguros y Reaseguros de Panama, the accumulated growth for the first quarter of this year shows a gain of 9.02%.

Panamá América’s website says that, “The reported decrease of different economic activities in Panama continues to put the brakes on insurance companies.”

More on this topic

Road Accidents Affect Car Sales in Nicaragua

January 2017

The union of dealers attributed the slowdown in sales of compact cars to increased traffic accidents and the consequent increase in the cost of insurance.

The Nicaraguan Association of Motor Vehicle Distributors (Andiva) last year estimated that insurance premiums for small and compact cars increased by 15%, due to growth in traffic accidents in the country. Because of this situation, the union estimates that at the end of 2016 "... possibly we will reach the same number of vehicles sold in 2015 or perhaps a growth of 1%."

Insurance Policies in Panama are Mainly for Auto and Health

November 2013

Between January and September insurance sales increased by 8.5% compared to the previous year, totaling $892 million.

Most policies sold in that period were in the auto and health categories according to information from the Superintendency of Insurance and Reinsurance in Panama.

Yellow Light for Car Insurance

October 2012

In Panama statistics up to the month of July 2012 show an increase of $63 million in motor vehicle claims, which means an increase of 22% compared to July 2011.

Martesfinanciero.com reports that "The latest figures from the Transit Authority and Land Transport (ATTT) account for more than 20,000 traffic accidents in the first seven months of the year, and insurance companies are concerned because this means a possible reduction in profit margins exclusively in the industry’s car insurance branch this year. "

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.

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Aseguradora Ancón

Organization that operates in Panama.
Phone: (507) 210-8787

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