In the last five years, the profits of insurance companies have increased, because in 2014 for every dollar collected companies obtained a profit of $0.03, and in 2018 the indicator rose to $0.10.
Data from the Panamanian Association of Insurers (Apadea) show that the sector's profitability is constantly growing, since for every dollar that insurers received in 2014 they obtained a $0.03 benefit, in 2015 the proportion rose to $0.06, in 2016 to $0.08, in 2017 to $0.09 and in 2018 to $0.10.
During the first quarter of the year in Nicaragua, premium income was down 6% from the same period in 2018, while claims payments increased 14%.
Figures from the Superintendence of Banks and Other Financial Institutions (Siboif) indicate that between January and March 2018, and the same period in 2019, premiums in the country fell from $55 million to $53 million.
Improving the presence in cities of the province and taking advantage of the margin of growth that still exists in the metropolitan area are the keys for the sector to grow during the following years.
According to figures presented by the Guatemalan Association of Insurance Institutions (AGIS), between 2017 and 2018 the number of premiums subscribed in the country went from $881 million to $907 million, which is equivalent to a 3% increase.
Last year, net premium income in El Salvador totaled $658 million, 5% more than reported in 2017, a rise explained by accident and health insurance.
According to data from the Salvadoran Association of Insurance Companies (ASES), during 2018 the area of accident and health insurance recorded sales of premiums of $128 million, which is equivalent to a 14% increase over what was reported in 2017.
Between 2017 and 2018, Costa Rica's fire and property casualty rates increased from 18% to 33% and from 29% to 37%, respectively.
The general industry accident rate, which measures the proportion of claims payment expenses to total policy income, also increased in the last two years, from 48% in 2017 to 51% in 2018.
Data from the General Insurance Superintendence (Sugese) detail that during 2018 $139 million were paid for fire policies, and insurance companies disbursed $45 million for accidents and losses, which is equivalent to 33%.
Between 2017 and 2018, the number of people insured against accidents and diseases grew 17%, from 1.6 million to 1.9 million.
According to figures from the Quarterly Bulletin of Financial Inclusion Indicators, December 2018, compiled by the Superintendence of Banks, since 2016 there has been a sustained increase in the number of insured persons.
Total insurance premium revenues in Costa Rica totaled $1.261 million in 2018, 3% more than in 2017.
According to figures from the General Superintendence of Insurance (Sugese), between 2017 and 2018 the per capita spending of Costa Ricans on insurance increased slightly by 1.8%, from $248 to $252.
A comprehensive all-risk property, civil liability and personal accident policy will be contracted for Line 2.
Panama Government Purchase 2019-2-80-0-08-LP-002223:
"Services required:
-Recruitment of the reinsurance program
-Issuance of required policies and endorsements
-Collection of premiums generated by policies
-Attention and payment of the claims covered under the contracted policies
During 2018, Guatemala's insurance sector increased 3% year-on-year, well below the 8% growth rate reported between 2016 and 2017.
According to figures presented by the Guatemalan Association of Insurance Institutions (AGIS), between 2017 and 2018 the total of premiums subscribed in the country went from $881 million to $907 million.
According to the association of insurers, the increase in the sector's income is partly because of the dynamism registered in the life and medical i
Because of vehicle and health insurance performance, premiums paid in Panama last year totaled $1.562 million, 6% more than in 2017.
Preliminary figures from the Superintendence of Insurance and Reinsurance detail that last year income from vehicle insurance totaled $321 million and increased 9% with respect to 2017.
During 2018, premiums paid for health insurance totaled $312 million, 7.8% more than reported in 2017.
During the first quarter of this year, the National Insurance Institute will begin to offer two new policy modalities aimed at the aquaculture and poultry sectors.
The Executive President of the National Insurance Institute (INS), Elian Villegas Valverde, explained last January 9 that the Poultry Insurance will cover hens for breeding, broiler and laying hens for consumption, while the Aquaculture Insurance, will focus on shrimp, fish and snapper spot.
In the first eleven months of 2018, premiums of $1.378 million were underwritten in Panama, exceeding by 6% the value reported in the same period of 2017.
The latest data from the Superintendence of Insurance and Reinsurance, detail that between the first eleven months of 2017 and the same period of 2018, the value of premiums underwritten went from $1.301 million to $1.378 million.
In the first ten months of this year, premiums of $1.245 million were subscribed in the country, exceeding in 5% the value reported in the same period of 2017.
The most recent data from the Superintendence of Insurance and Reinsurance detail that between the first ten months of 2017 and the same period of 2018, the value of premiums subscribed went from $1,188 million to $1,245 million.
Fitch Ratings forecasts that the insurance sector in Central America will close 2018 with a year-on-year increase of almost 6% and expects that in 2019 the business will reach a very similar growth rate.
The projected increase for 2018 and 2019 would be based on the behavior of the Panama, Costa Rica and Guatemala markets, however, the increases of 5.8% and 6.1% forecast for 2018 and 2019, respectively, would represent a slowdown regarding the 8.2% growth registered in 2017.
The Public Ministry of Panama tender for a collective health insurance for the workers of the Procuraduría General de la Nación, for a term of 24 months.
Panama Government Purchase 2018-0-35-0-08-LV-020577:
"A collective health policy or insurance will be contracted for 4,251 collaborators, which will cover medical services required for the prevention of illnesses and accidents, the care and maintenance of health or its recovery in case of suffering a guaranteed event, up to the amount stipulated in the Insurance Contract.