Seven all-risk and/or physical damage to property insurance policies are required to be tendered at five International Airports in Panama.
Panama Government Purchase 2021-2-02-0-08-LV-009919:
"In the following Panama airports managed by AITSA, different policies are required:
1. Tocumen International Airport.
2. Enrique Malek International Airport (David-Chiriqui).
In 2017 in Panama, premiums totaled $1.471 billion, 5% more than in 2016, but the loss ratio in fires and floods increased almost four times.
According to a report by the Superintendency of Insurance and Reinsurance of Panama (SSRP), in 2017 market growth was accompanied by an increase in claims, as insurance companies paid out $119 million for the fire and flood coverage policies, a figure that exceeds the $26 million disbursed in 2016 by 365%.
Between January and October 2017, premiums grew 4% compared to the same period in 2016, explained in part by a 9% increase in health insurance and 14% in collective life insurance.
Figures published by the Comptroller General of the Republic indicate that premiums in the Individual Life insurance sector registered an increase of 4.4%, while those of Health increased 9%.On the other hand, collective life insurance premiums increased 14.3%.
The Fire Department of Panama is putting out to tender collective life and international health insurance policies for its operative personnel, for a period of 24 months.
Panama Government Purchase 2017-1-51-01-08-LA-000901:
The Social Security Fund in Panama is putting out to tender collective life insurance for borrowers, insurees, pensioners and retirees for a term of one year.
Government Purchase Panama 2017-1-10-0-08-AV-271614:
"The Social Security Fund seeks to guarantee contracts for collective life insurance for borrowers, insurees, pensioners and retirees of the Social Security Fund for the balance of capital at the time of death, without exceeding the maximum stipulated in the policy.
The Ministry of Government in Panama is putting out to tender the supply of group life and health insurance for its staff.
Panama Government Purchase 2016-0-04-0-08-LV-008 831:
"Supply of group life insurance and group health insurance for Public Servants of the Ministry of Government, exposed to risks, and Collective International Health Insurance for Public Servants of the Ministry of Government, traveling abroad on official or training missions, according to the tender documents."
Banco Nacional de Panama is putting out to tender health, life and personal accident insurance for employees of the institution for a period of 48 months.
Panama Government Purchase 2016-1-01-0-08-LP-011670:
"Conditions for the policies to be contracted out:
-Life:Life insurance, accidental death and dismemberment and total and permanent disability due to accident or illness, for an average of 3,574 employees of BANCO NACIONAL DE PANAMA.
The Ministry of Public Security in Panama is putting out to tender the supply of various insurance policies for the National Air Service for a period of 3 years.
Panama Government Purchase 2016-0-18-01-08-LP-028044:
"Acquisition of policies:
- Insurance for aircraft hull
- Collective personal accident and medical expenses insurance - hull
- War risk insurance
In the first quarter of the year, total premiums in the country totaled $338 million, 5% more than in the same period last year, driven by automobile insurance.
Vehicle insurance is the most in demand, reporting $63 million in premiums from January to March 2015, representing an increase of 11.8% compared to the same period last year. The second sector reporting the most growth is health, with premiums of $57.3 million, ie an increase of 6% and finally the premiums for group life reported $41 million, according to the Superintendency of Insurance and Reinsurance in Panama.
The amount of premiums written during the first half of 2014 totaled $657 million, which is 12% more than in the same period in 2013.
Of the total of premiums paid in the first six months of the year, health insurance, group life and car policies accounted for about 45%. In the case of auto insurance, one of the fastest growing in the country, the total was $112.4 million, 9.78% more than in the first half of 2013.