In the first five months of the year the volume of premiums was $545 million, nearly $50 million more than in the same period in 2013.
Automobiles, with premiums of $94 million and Health, with premiums of $91.8 million, are the sectors that grew the most compared to the previous period, with increases of 9.83% and 17%, respectively.
Carlos Berguido, executive director of Asociación Panameña de Aseguradores, said in Prensa.com that "...
The Ministry of Security is inviting bids for a group insurance policy, covering life, medical hospital services and vehicles for a period of one year for the National Police.
Honduras Government Purchase LPN-SEDS-001-2014:
"CONTRACT FOR GROUP INSURANCE POLICY COVERING LIFE, MEDICAL HOSPITAL AND VEHICLES FOR THE HONDURAN NATIONAL POLICE FOR THE TERM OF ONE YEAR"
During the first half of 2012, the insurance sector in Latin America had a premium volume of $77,085 million, maintaining growth rates of two digits.
According to César Quevedo, deputy director of the Institute of Science at Seguro de Fundación Mapfre, the insurance industry is "key" to this global market.
On presenting the report, "The Latin American insurance market," the official noted that this "is a key region for the present and future in global insurance."
A report by SUGESE contains information on Basic Indicators, Market Structure and Participants and Products.
December 2012 Bulletin from the Superintendent of Insurance (SUGESE):
Basic Indicators
The total amount of direct premiums was ¢466.2 billion in 2012, with 69% of that amount corresponding to voluntary insurance. The retention of these total direct premiums compared to 2011 remained at 81% and the total retained earned premiums (allocated ) increased from 96% in 2011 to 91% in 2012.
A report by Fitch notes the momentum in the insurance sector in Central America and its growth potential.
From the report by Fitch Central America is entitled "Performance of Insurance Industry Central America: Well Positioned for Growth ":
The insurance industry in Central America managed to increase premium production by 12% compared to 2010, where Panama, Guatemala and Honduras recorded an above-average growth.
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
Looking at figures up to until August 2011, collective life insurance plans accounted for 81.6% of the total.
According to information from the Superintendency of Banks (SB), until August, the total amount of insured individual plan premiums reached $16.35 million (18.2%), meanwhile direct premiums in group plans totaled $73,5 million.
"An insurance expert Mario Mendizabal said the group plans monopolize the market because companies buy them for their employees."The company pays a portion and employees another, but what the workers pay is something symbolic or minimal", he added.