Transporte Masivo de Panama S.A. is bidding for the insurance of special risks, whose policy term must be of 24 months and the total insured amount is $75 million at first risk.
Panama Government Purchase 2021-2-81-01-08-LP-003116:
"The special risks insurance policy must be composed of the following sections:
I. Fire - Physical loss and/or damage including catastrophic risk.
The Social Security Institute bids the all-risk insurance policy for real estate, furniture, equipment, physical inventory, office equipment and computer equipment of the central warehouse and areas rented by the institution.
Honduras Government Purchase LPN-006-2021:
"The insurance policy covers personal property owned by the Insured from all damage, physical loss caused by the following risks:
Metro de Panamá S.A. bids the policies for the operation of Line 1 and Line 2, for a 24-month term.
Panama Government Purchase 2020-2-80-0-08-LP-003124
"Some of the services required:
-Contracting the reinsurance program
-Emission of required policies and endorsements
-Collection of the premiums generated by the policies
-Care and payment of the claims covered under the contracted policies
Due to confinement, the economic crisis and vehicle restriction measures, two out of ten customers in Guatemala cancelled their car insurance.
The spread of covid-19 has generated a health and economic crisis in the country, a situation that caused falls in the income of insurance companies, however, the sector's union considers that it is a temporary effect and that in the coming months sales could recover.
Last year, total income from insurance premiums in Costa Rica accumulated $ 1,449 million, 8% more than reported in the previous year, a variation that doubles the 3.5% increase recorded between 2017 and 2018.
The 8% growth recorded in 2019 doubles the variation recorded in 2018, when the upturn amounted to 4%. According to the Superintendencia General de Seguros (SUGESE), the dynamism of the sector's sales represents not only a significant increase in the market, but also one that has been sustained over the last 11 years.
Panama's Metro bids the special risks insurance policy, with a two-year validity period.
Panama Government Purchase 2020-2-81-01-08-LP-001754:
"The bidder will be responsible for executing all the works, activities and tasks necessary to provide the service of Special Risks Insurance Policy Contracting, for a 24-month period.
In the first ten months of 2019, premiums of $1,265 million were subscribed in the country, 2% more than reported in the same period of the previous year, a rise that is less than the 5% year-on-year variation reported up to October 2018.
According to the last report of the General Comptroller of the Republic, between the first ten months of 2018 and the same period of 2019, fire and multi-risk insurance premiums recorded a 12% increase.
Discounts in fitness centers, in dental services or in consultations with psychologists, are some of the benefits offered by insurance companies in Costa Rica to maintain their portfolio of clients and attract new ones.
The National Insurance Institute (INS), Sagicor, Pan American Life Insurance, Océanica de Seguros and Mapfre, are some of the competitors in the Costa Rican market that offer this type of privileges in their 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
In the first five months of the year, total income from insurance premiums in Costa Rica added up to $682 million, registering an increase of 6% compared to the same period in 2017.
Between January and May of this year, growth of mandatory insurance was mainly due to the 14% increase registered in occupational risk premiums, according to a report by the General Superintendence of Insurance.
According to the union of insurers in El Salvador, between January and March net premiums totalled $149 million, 2% less than the $152 million reported in the same period in 2017.
After registering a modest 2% growth between 2016 and 2017, representatives of the Salvadoran Insurance Association (ASES) reported that during the first quarter of the year a 2% drop in contracted premiums was reported, compared to the months from January to March 2017.
With the aim of boosting the insurance market in El Salvador, business leaders in the sector are proposing changes to the legislation that would allow for expanding marketing channels for policies.
After the Salvadoran insurance market recorded growth of 1% in 2017, bills have been prepared that have been submitted to the Presidential House, which seek to reactivate the sector, through the commercialization of microinsurance focused on people with low incomes.
Growth in policies for health and boats and aircrafts accounted for most of the 19% growth recorded in the first quarter of the year.
Data from the Superintendency of Insurance indicates that during the third month of the year the agricultural and livestock sector registered an increase of 64% compared to March 2017, followed by health insurance, whose premiums increased by 27%.
Three insurers distributed 52% of the premiums generated in January of this year, which in total amounted to $129 million.
In the first month of 2018, the three insurance companies that subscribed the largest proportion of the premiums were Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá, with $32 million, $19 million and $16 million, respectively.
Representatives from the sector stated that in 2017 premiums totalled $627 million, which meant an increase of just 1% with respect to the figures reported in 2016.
According to the Salvadoran Association of Insurance Companies (Ases) last year's performance was associated with lower demand in some sectors, greater competition and a volume of risks that has not increased substantially.