Except for Nicaragua, which projects a decline in revenues, Fitch Ratings estimates that by year-end the region's insurance markets will have grown from 3% to 8%.
According to the report Perspectives of Insurance Industry in Central America, prepared by the rating agency Fitch Ratings, El Salvador will be the market that in 2019 will register more dynamism in the region, reporting an 8% increase over revenues reported in 2018.
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.
From January to August 2019, premiums of $1.026 million were subscribed, surpassing by 3% the $997 million reported in the same period of 2018, an increase lower than the 5% increase reported in July.
According to the most recent figures from the General Comptroller's Office of the Republic, between the first eight months of 2018 and the same period of 2019 the premiums for fire and multi-risk insurance registered a 16% increase.
The Empresa de Transmisión Eléctrica de Panamá will contract an all risk insurance policy for direct physical loss or direct physical damage, and a comprehensive general civil liability insurance policy.
Panama Government Purchase 2019-2-78-0-99-LP-011630:
"Line 1: All Risks Insurance Policy for Direct Physical Loss or Direct Physical Damage to the Property of Empresa de Transmisión Eléctrica, S.A. (ETESA).
The Port Maritime Authority tenders the insurance policy service for electronic equipment, automobiles, vehicle fleet and fire insurance for the year 2020.
El Salvador Government Purchase 20190056 Free management:
"The Port Maritime Authority requires Goods Policy Service for the AMP 2020, which includes:
From January to July 2019, premiums of $910 million were subscribed, 5% higher than the $864 million reported in the same period of 2018.
According to the most recent report of the General Comptroller of the Republic, between the first seven months of 2018 and the same period of 2019 the premiums of the branch of fire and multi-risk insurance registered a 17% increase.
In July 2019, the branches with the highest growth compared to the same month in 2018 were Health with 56%, Bail Bonds with 41% and Air and Maritime Ships with 41%.
From the Superintendence of Insurance report:
Net premiums collected in July reached RD$6,501,787,017 million, with an absolute growth of RD$1,456,663,584 million and a relative growth of 28.87% compared to the previous year.
The Honduran Banking and Insurance Commission tenders the fire insurance policy and related lines for furniture and office equipment, electronic fixed and portable, for the years 2020 and 2021.
Honduras Government Purchase LP-CNBS-02-2019:
"Contracting of an insurance policy to protect the Furniture and Office Equipment of the CNBS located in the cities of Tegucigalpa, MDC, San Pedro Sula and Choluteca; likewise, the goods that are moved between buildings, for a term of two years.
During the first six months of this year, net premium income totaled $395 million, 9% more than reported in the same period in 2018, an increase explained by life and fire policies.2
According to data from the Salvadoran Association of Insurance Companies (ASES), between the first half of 2018 and the same period in 2019, net premium income grew by $34 million, from $361 million to $395 million.
The group fidelity insurance policy to protect the funds and assets of the Central Bank is tendered for the period from December 31, 2019 to January 26, 2022.
Honduras Government Purchase LPública No.32-2019:
"The exact period to be covered is from December 31, 2019, at twelve noon (12:00 m.) to January 26, 2022 at twelve midnight (12:00 a.m.).
The closing date for clarifications is September 20, 2019.
Between January and June 2019, premiums increased 4% compared to the same period in 2018, partly because of a 5% increase in health policies and 6% in group life insurance.
The latest data published by the General Comptroller of the Republic indicate that between the first half of 2018 and the same period of 2019 the premiums of the branch of fire and multi-risk insurance registered a 12% increase.
The Costa Rican Social Security Fund tenders all-risk insurance for the institutional patrimony.
Costa Rica Government Purchase 2019LA-000001-1121:
"The services requested include the acquisition of a comprehensive insurance, with coverage for all movable and immovable property of the Institution, including, but not limited to buildings, machinery, equipment, furniture, merchandise, collection of works of art, books and magazines not included in the accounting system of movable property of the Costa Rican Social Security Fund. The inventory of the buildings to be insured together with the amounts defined for contents is shown in Annex #1.
The Central Bank tenders the group life insurance policy and hospital medical expenses for a group of employees of the institution for a two-year term.
Honduras Government Purchase LPública No.27-2019:
"Hiring of a collective life insurance policy and medical-hospital expenses for dependents of members of the Social Assistance Plan (PAS), as well as employees not members of the PAS, registered in the registers of the Department of Social Welfare of the BCH.
Although in the first six months of the year, the Guatemalan market increased to 6%, for the growth to be sustained, it is necessary to regulate the obligatory nature of civil liability insurance against third parties and occupants for all vehicles in the country.
Currently, the Guatemalan insurance market has only regulated compulsory insurance in the part corresponding to extra-urban transport units, which slows down the growth potential of companies in the sector.
Insurance policies for damages, automobiles, electronic equipment, life, collective and hospital medical, for CEPA and FENADESAL are tendered.
Purchase by the Government of El Salvador DR-CAFTA-ADACA-UE CEPA-LA-08/2019:
"The purpose of the tender is to contract the insurance policies, damages-package policy and group life insurance and hospital medical insurance, automobile insurance, fidelity insurance and electronic equipment insurance for CEPA and FENADESAL, for the period from October 1, 2019 to January 1, 2020, both dates at twelve o'clock in the morning, according to the Terms of Reference established in these Tender Bases, by means of one or several Legal Persons, Union of Persons, and/or Joint Participation of Offenders (Legalized), National or Foreign."