The Guatemalan insurance association reports that at the end of the year premiums totaled $926 million, 8% more than in 2016.
According to a report presented by the Guatemalan Association of Insurance Institutions, the growth of 7.7% was below the 9% that had been foreseen for 2017.It should be noted that medical insurance exceeded expectations, growing above 10%.
The insurers' association has reported a 9% increase in premiums generated in September this year.
Enrique Murillo, executive director of the Guatemalan Association of Insurance Institutions (AGIS), told Elperiodico.com.gt that"... the total premiums generated in September 2017 is $708 million, while up to the same month last year the figure was $640 million."
Fitch Ratings expects moderate growth in premiums in Costa Rica, increased interest in personal insurance in Guatemala, and stable performance in Nicaragua and Honduras.
From the report "Outlook 2015: Central American Insurance Sector":
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. The countries with the highest contribution in the production of $3.44 billion dollars that the industry reached the end of 2011, are Panama and Costa Rica, a positive sign that the region is recovering from the economic crisis.
With the entry of the US firm BMI, Guatemalans now have a new health insurance option available in the country.
The Superintendency of Banks (SB) has authorized a change in the corporate name of the company, which was registered in the country as the BMI Insurance Company of Guatemala, Sociedad Anonima.
Best Meridian Insurance Company (BMI) has entered the market by acquiring the license to operate from Aseguradora Mundial-Colectivos Empresariales.
BMI, is a company dedicated to the health, life, disability and financial services insurance and has a $7 billion portfolio of over 200 thousand customers.
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