Salvadoran Insurers confident that they will dodge the crisis

The insurance industry trusts that they will dodge the financial crisis that started in the US and affected other countries, since they are "sound enough" to meet their obligations.

Monday, October 6, 2008

"Up to now we can plainly state that the insurance sector in El Salvador generally has higher levels of solvency and financial (capital) safeguards for the tranquility and contentment of those who use our services," declared Raul Betancourt, executive director of the Salvadoran Association of Insurers (ASES).

More on this topic

Salvadorian Insurance Market Increases

August 2012

In the first five months of the year, the insurance market recorded an increase of 8% compared to the same period in 2011.

Raul Betancourt, legal advisor to the Salvadoran Association of Insurance Companies (ASES), noted that total industry premiums amounted to $205 million. "This growth is attributed to the pension insurance and life insurance contracts", he said.

El Salvador: Mandatory Insurance Law

January 2011

Under the new law, about 80% of vehicles will have to pay between $ 30 and $ 40 worth of insurance.

Raul Betancourt, executive director of the Salvadoran Association of Insurance Companies (ASES), said that according to preliminary analysis about 556 thousand vehicles would pay this premium.

El Salvador: 15% increase in insurance expected

January 2009

The Salvadoran insurance industry appears to be highly capitalized and technical, but it will not escape the effects of the crisis. reports: "There will be pressure on policies, an increase in insurance prices," said Agata, during the annual conference of reinsurers sponsored by the Salvadoran Association of Insurance Companies (ASES).

El Salvador: Insurance policies will be more expensive in 2009

November 2008

The Salvadoran Association of Insurance Agents maintains that the crisis is creating an atmosphere of uncertainty, hence it is important to seek advise regarding the topic of insurance.

The union, which presented a conference on the repercussions of the crisis on the sector, argues that "despite the fact that global insurance experts are conscious of the impact that the crisis is causing in all sectors, they see many opportunities if innovation continues."

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