In the first nine months of this year, premiums of $1,115 million were written in Panama, exceeding by 4.9% the value reported in the same period of 2017.
The latest data from the Insurance and Reinsurance Superintendence, between the first nine months of 2017 and the same period in 2018, the value of premiums written went from $1.063 million to $1.115 million.
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.
Growth in Personal Accident and Individual Life policies accounted for most of the 12% growth recorded during the fifth month of the year in the Dominican Republic.
In May, compared to 2017, the lines that reported the highest growth were: Bonds, 132%; Personal Accident, 41%; and Individual Life, 34%, reported the Superintendency of Insurance.
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%.
The Superintendence of Competition has authorized the purchase of Davivienda Vida Seguros by the Honduran company Inversiones Atlántida.
A statement issued by the Superintendence of Competition (SC) indicates that the purchase of the insurer Davivienda Vida Seguros, S.A., Seguros de Personas (Davivienda Vida), was made through the Salvadoran subsidiary of Grupo Atlántida,Inversiones Financieras Atlántida, S.A.
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.
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.
El Salvador Government Purchase CEL-LP 19/17:
"All risks insurance for machinery breakage and consequential loss of CEL and the companies Lageo, S.A. de C.V., Etesal S.A.
Voluntary insurance made up the main component of growth compared to 2015, with a consequent reduction in the share of compulsory insurance.
From a monthly report by the Superintendent of Insurance:
In 2016, revenues from insurance premiums grew by ¢90.7 billion (16%) compared to 2015, closing the year at ¢655 billion.Growth was widespread by category and in all cases, higher than the main macroeconomic indicators.
Since January a downward trend has been noted in premiums receivable by insurance companies operating in the country, reaching $232 million in September.
The report"Quarterly Bulletin of Statistics of the Insurance Business - September 2016"by the Superintendency of Banks of Guatemala, reveals figures from the operation of insurance companies registered in the country, including details on premiums receivable, cash, the financial position of each one and the main items of investment, among other things.
Income from voluntary insurance premiums grew by 18% in relation to June 2015, reaching $490 million.
From a monthly report by the Superintendent of Insurance:
The evolution of compulsory insurance in respect to previous months is: 32% growth that corresponds to an increase of ¢38.6 billion colones in SOA, concentrated in January of this period as a result of a change in the accounting methodology, specifically, for the SOA period, premiums that were previously registered in December of each year were recorded in January 2016 of this year.RT premiums decreased by ¢15.6 billion colones.
According to Fitch Ratings, pension insurance has become a problem in terms of technical profitability for the companies that sell them.
From a statement issued by Fitch Ratings:
Fitch Ratings - San Salvador - (April 28, 2016):
Pension insurance has become a challenge in terms of technical profitability for sellers, says Fitch Ratings. One of the benefits of the current pension system is protection against disability and pension insurance, contracted by the Pension Fund Administrators (AFP) for its members. This coverage is provided by insurers and covers the insured against accidents or diseases that would make it impossible for them to work. In addition it also covers beneficiaries when the insured person dies, providing the required additional capital to finance pensions.
It has been announced that three insurers with the largest share in the market have requested authorization from the regulator to make adjustments of up to 12% on premiums for health insurance policies.
The Superintendent of Insurance and Reinsurance, José Joaquín Riesen, told Prensa.com that three companies asked to be able to increase premiums for health policies, arguing that the costs of medical services have increased by at least 10% in recent years, while premiums, deductibles and coinsurance have remained in the same price ranges.
In June 2015, the Salvadoran insurance industry recorded a growth rate of 4%, higher than the 2.4% increase recorded in the first half of 2014.
From a report by Fitch Ratings Central America:
Continuous growth: In June 2015, the insurance industry of El Salvador recorded a growth rate of 4% compared to the first half of 2014 (1S14), given a growth in the economy of 2.4%, according to central bank data.
Tocumen SA is putting out to tender insurance policies which are all risk and / or for physical damage, liability, commercial loss and others for staff at airports.
Panama Government Purchase 2015-2-02-0-08-LA-004968:
"ACQUISITION OF INSURANCE POLICIES ALL RISK AND / OR PHYSICAL PROPERTY DAMAGE, LIABILITY OF AIRPORTS, LIABILITY OF DIRECTORS AND OFFICERS , TERRORISM (PROPERTY) INFIDELITY INSURANCE AND COMMERCIAL LOSS, GROUP LIFE INSURANCE AND HOSPITAL MEDICAL INSURANCE FOR ALL STAFF AT THE FOLLOWING AIRPORTS: INTERNATIONAL AIRPORT OF TOCUMEN SA, ENRIQUE MALEK INTERNATIONAL AIRPORT (DAVID-CHIRIQUI), RIO HATO AIRPORT (RIO HATO) -COCLÉ), ENRIUE JIMENEZ INTERNATIONAL AIRPORT (COLON, PANAMA PACIFIC INTERNATIONAL AIRPORT ( HOWARD). "