More Auxiliary Marine Docks for PanamaWednesday, August 28, 2013 The maritime industry will have two docks for auxiliary services in the Pacific and one in the Atlantic to use as a base for providing services to ships. According to Willys Delvalle, president of the Panama Maritime Chamber, the committee on maritime industries at the Chamber is already working on approaches with companies for projects and he confirmed that they are going to provide all services required by the industry. Investments in Central AmericaMonday, August 17, 2009 The crisis in the US has brought new competition challenges to the Real Estate business in our region. Projects in Central America and in Nicaragua will need to present returns above 25% to compete with less risk and equal or better yield opportunities in the U.S. market due to all the distress sales available, foreclosures and REOs (repossessed bank properties) offering ROI’s (return on investment) above 63% annualized returns. The Hotel Investment OutlookMonday, August 17, 2009 The latest comments about the world outlook for the Hospitality Industry as presented by ALIS Summer Update As Jeff Higley (Editor-in Chief of Hotel and Motel Management Magazine) said in his “Twitter” page on June 2, the IREFAC (Industry Real Estate Financing Advisory Council) guys are the pulse of the industry. But, as he also noted, “…the IREFAC panel says the only way to get a phone call from your lender these days is to not make a payment. Assa Acquires Metropolitan Insurance CompanyFriday, January 21, 2011 ASSA Group acquired 98.7% of stock of Metropolitan Insurance Company. Eduardo Fabregas, Vice President of ASSA Insurance Company of Panama, told media: "With this acquisition, we will provide a serious and responsible service to our clients and brokers, also Metropolitan ASSA will have more resources at their disposal, offering a regional service to clients who do business outside of Nicaragua." Qualitas Insurance begins operations in El SalvadorWednesday, December 3, 2008 Qualitas Insurance company, of Mexican origin, announced yesterday that it will begin to operate in El Salvador after carrying out a feasibility study. Qualitas started to process its license at the middle of last year when its presented the corresponding paperwork and request to authorities in order to obtain authorization to enter the country and to operate as an insurance company specializing in car insurance. Copa Airlines Orders Two New PlanesWednesday, December 9, 2009 The company ordered two Boeing 737-800 planes, increasing to 15 its orders in 2009. The planes will be delivered in the second half of 2010. Three Insurance Companies Dominate in PanamaMonday, June 17, 2013 During the first quarter of this year, the sum of the premiums of Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá was around $198 million. This ranking of premiums prepared by the Superintendency of Insurance and Reinsurance of Panama, shows that Assa Compañía de Seguros comes first in the list with $80.3 million (20.18% market share), followed by Compañía Internacional de Seguros, with $65.3 million (16.41%) and Mapfre Panama in third place with $52.3 million and 13.13% of market share. Insurance Up 11% in PanamaWednesday, November 24, 2010 In September premiums issued totaled $ 665 million, 11.3% higher than the same period of 2009. Insurers "Compañía Internacional de Seguros"; ASSA Insurance Company and "Aseguradora Mundial" represented 49.1% of all insurance sales, a total of $ 327.6 million. $64 million for Small and medium size companies in GuatemalaWednesday, December 3, 2008 The Spanish Financing Company for Development (Cofides) will provide $64.4 million (51 million euros) to finance local companies. Some 15 companies met yesterday with representatives of Cofides, hoping to get financing for their projects; these include the Digitex call center, Automercantil Vehicle Imports, the Municipality of Guatemala, two companies from free zones, a food packaging company and an assembly company. Copa Airlines Passenger Traffic Up 14% in NovemberThursday, December 10, 2009 In November, Copa boarded 14.2% more passengers than the same month of 2008. Load factor (average percentage of occupied seats) rose to 81.8%. First Sunwing Flight Lands in HondurasTuesday, December 15, 2009 Canadian carrier Sunwing Airlines will operate two weekly flights on Mondays in the Toronto-Roatán-Toronto route. Peter Fleming, commercialization manager at "Aeropuertos de Honduras", explained that Sunwing's operation highlights the confidence in the growth of tourism in the region. Panamanian Insurer Ventures into El SalvadorWednesday, January 11, 2012 ASSA Compañía de Seguros S.A, which has operations to date in Panama, Costa Rica and Nicaragua, has begun operating in El Salvador with an investment of $3.2 million. ASSA Compañía de Seguros S.A, a Panamanian company, started operations in El Salvador with an initial investment of $3.2 million, according to El Diario de Hoy. Costa Rica Authorizes Assa InsurerThursday, April 15, 2010 After being authorized by the Costa Rican Insurance Superintendence, the Panamanian insurer becomes the fifth company to enter this market. “Assa Compañía de Seguros” will sell individual and general insurance in the country. COPA Airlines Could Join Star AllianceWednesday, October 28, 2009 The airline is negotiating its potential entrance to Star Alliance, which is composed of 25 air travel companies. Pedro Heilbron, president of Copa Airlines, reported that on October 24th, the corporation abandoned another airline alliance, SkyTeam. Grupo Assa Gets Foothold in the RegionThursday, May 12, 2011 In 2010 the insurance company's profits grew by 24% in 2009. The regional growth strategy established five years ago has yielded great results. The significant increase in income is due, in large part, to the company’s operations in Panama, Costa Rica, Nicaragua and El Salvador. |
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