Panamanian Insurer Has New Owner

A transfer has been authorized to Acerta Holdings of 75% of the share capital of Aseguradora del Istmo, which was taken over by the Superintendence of Insurance at the beginning of the year.

Monday, June 26, 2017

From a statement issued by the Superintendent of Banks:

The PANAMA INSURANCE AND REINSURANCE SUPERINTENDENCY hereby informs the public, of a a change in shareholding of 75% of the company ASEGURADORA DEL ISTMO, SA (ADISA PANAMA) in favor of ACERTA HOLDINGS, S.A.

By means of official letter No. 726 of June 20, 2017, the Fifth Civil Circuit Court of the First Judicial Circuit of Panama, communicated to this Superintendency the Extrajudicial Agreement signed between ISTMO COMPAÑÍA DE REASEGUROS, INC., and one of its creditors, PRIVAL BANK , SA, and its subsequent assignment to ACERTA HOLDINGS, SA. 



More on this topic

Panama: Aseguradora del Istmo Taken Over

February 2017

The Superintendency has taken administrative and operational control of Aseguradora del Istmo S.A., due to a number of deficiencies identified in the operation of the company.

From an announcement by the Superintendency of Insurance and Reinsurance: 

Good year for Insurance Industry in Costa Rica

December 2013

In the last interannual period personal insurance increased by 11%, general by 5% and compulsory by 9%.

From a bulletin on the Insurance Sector in November 2013 by the Superintendency of Insurance:

BASIC INDICATORS
The total amount of direct premiums collected reached c436,3 billion in November 2013. The involvement of voluntary insurance equaled the average of the last four annual periods - Nov 20l0-Nov 20l3), 73%.

Insurance in Guatemala Up 7.3%

September 2013

During the first eight months of 2013 insurance market premiums generated $425 million, while in the same period of 2012 the figure was $396 million.

The data was supplied by the Guatemalan Association of Insurance Institutions (Agis), which states that 20% of the market is made up of premiums from life policies, 29% for accident and health and the remaining 51% belongs to damage.

Statistics on Private Insurers in Costa Rica

June 2013

Pan American Life and Assa accumulate 6% of the market, reporting up to May 2013 accumulated income of $12 million.

According to the Superintendent of Insurance (SUG) these two companies have the largest reported income. "Other market participants with significant shareholdings are Mapfre Seguros with revenues of $7 million and Aseguradora del Istmo with $4.5 million," noted an article in Elfinancierocr.com.

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