Explained by the behavior of the Costa Rican market, in 2017 Central American insurers received $5.02 billion in premiums, 7% more than in 2016.
According to a report drawn up by Revista Desempeño Asegurador, in 2017 "... insurance sales in the region expressed an absolute increase of US $334.7 million, an amount that represented a rise of 7.1% compared to sales in 2016."
During the first half of 2012, the insurance sector in Latin America had a premium volume of $77,085 million, maintaining growth rates of two digits.
According to César Quevedo, deputy director of the Institute of Science at Seguro de Fundación Mapfre, the insurance industry is "key" to this global market.
Agricultural insurance coverage in the Americas maintained positive growth in those countries that have launched a public-private model and where agriculture represents a fundamental part of the economy.
From the study "Agricultural insurance in the Americas: a tool for risk management", prepared by the Inter-American Institute for Cooperation on Agriculture (IICA) and the Latin American Association for the Development of Agricultural Insurance (ALASA):
A report by Fitch notes the momentum in the insurance sector in Central America and its growth potential.
From the report by Fitch Central America is entitled "Performance of Insurance Industry Central America: Well Positioned for Growth ":
The insurance industry in Central America managed to increase premium production by 12% compared to 2010, where Panama, Guatemala and Honduras recorded an above-average growth. The countries with the highest contribution in the production of $3.44 billion dollars that the industry reached the end of 2011, are Panama and Costa Rica, a positive sign that the region is recovering from the economic crisis.
According to Agriculture and Cattle Ranching Secretary, agricultural insurance is the only hope for producers against losses from weather phenomena.
The Minister of Agriculture and Cattle Ranching (MACR), Hector Hernandez, said that the National Committee for Agricultural Insurance will start operating soon.
The objective of the event is to know the regional experience on the subject, and the best practices that ensure the development and sustainability of the agricultural sector through financing and insurance, stated José Luis Moncada, president of the CAHDA.
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