Panama: What and How Much in the Insurance Market

Three insurers distributed 52% of the premiums generated in January of this year, which in total amounted to $129 million.

Tuesday, March 20, 2018

In the first month of 2018, the three insurance companies that subscribed the largest proportion of the premiums were Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá, with $32 million, $19 million and $16 million, respectively.

See "Regional insurance market with good figures"

The report was followed by Pan American Life, with $13 million, Seguros Suramericana, with $12 million, and Assicurazioni Generali, with $9 million.

Regarding the insurance lines that Assa Compañía de Seguros subscribed to, the report states that of the $32 million reported by this company, $8 million corresponded to fire insurance, $4 million to health and $3 million to automobiles. 

See figures by company and by claims and insurance lines (in Spanish).

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Insurance Market Grows up to March 2018

May 2018

In Panama during the first three months of the year $367 million was written in premiums, which is 2% more than the $360 million reported in the same period in 2017.

During the first quarter 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 $70 million, $62 million and $56 million, respectively.

Changes in Insurance Market

April 2018

With the acquisition of the Italian insurer Generali, the participation of Assa Compañía de Seguros amounts to almost a quarter of the Panamanian insurance market.

Assa Compañía de Seguros confirmed in recent days that the purchase transaction of the insurance portfolio, other assets and obligations of the Assicurazioni Generali Branch of Panama, for $172 million, was approved by the Italian and Panamanian authorities.

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.

Five Insurers Dominate Panamanian Market

January 2012

Internacional de Seguros and ASSA are the industry leaders of a sector that netted $936 million in premiums in 2011, a 16% growth.

Five companies control the insurance market in Panama: Internacional de Seguros, ASSA, Mapfre Panamá, Assicurazioni Generali and Aseguradora Ancón.

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