Salvadorian Insurance Market Increases

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

Thursday, August 2, 2012

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.

On the other hand, there has been an increase in claims on various types of insurance of more than 20%.

An article in Laprensagrafica.com quotes the official who said, 'We have to review [the results] carefully because they are eye catching. We must review the question of accident policies, where we are growing more, and where we are growing less.'



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In the last five years penetration of the insurance market did not reach even 2% of GDP because people see insurance as an unnecessary expense.

According to Richard Cohen, executive president of the Salvadoran Association of Insurance Companies (ASES), penetration of this market has the potential to grow up to four times in the next few years.

Changes in Nicaraguan Insurance Market

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Private insurers are beginning to outperform the state insurance company and have so far captured a 40% market share.

The ranking of the premiums made by the Superintendency of Banks and Other Financial Institutions (Siboif) reveals that in the case of Seguros América S.A.,in the first quarter of 2013, they led the market with 29.3% of the sector.

Insurance Market in Honduras Grows by 10%

February 2012

At the end of last year, 2011, the insurance market reported a growth of 9.6% compared with 2010.

According to the National Commission for Banking and Insurance (CNBS), growth in premiums was $28.7 million.

"According to the insurance industry, the only decrease, of 4%, was in the general insurance section which includes vehicle and fire policies, ..." reported the Laprensa.hn

Growing Insurance Market in Nicaragua

October 2011

Projections for the insurance industry show growth of between 7 and 8% by the end of 2011.

Total net premiums will close at between $123 and $124 million, exceeding the $115 million recorded last year, said Luis Reynosa, of the Nicaraguan Association of Professional Insurance Agents, Anapsos.

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