In Costa Rica, only the state insurer and Oceánica de Seguros presented proposals for the tender of the Social Security Fund's all-risk insurance service, estimated at more than $2 billion.
Taking part in the process to award a contract for a policy to protect all of the buildings, machinery, equipment, furniture, merchandise and even the collection of works of art and books and magazines owned by the Social Security department, were the National Insurance Institute (Instituto Nacional de Seguros or INS) and Oceánica de Seguros.
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%.
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 Honduran National Port Company (Empresa Portuaria Nacional de Honduras) is putting out to tender protection insurance for its personnel and the assets belonging to the institution.
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.
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."
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 Executive Committee of the Lempa River Hydroelectric Station is putting out to tender all risks insurance to cover machinery breakdown and consequential loss, for a term of one year.
A new law is being prepared that will change the capital requirements and other requirements for granting licenses to reinsurers operating in the country.
The proposal by the Insurance and Reinsurance Superintendency of Panama was revealed weeks after the intervention was ordered into the reinsurer Istmo Compañía de Reaseguros.This process was not the only one in 2016, as the company Seguros Confianza was also taken over in September.
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