In the first seven months of this year in Panama, $864 million worth of premiums were written, an amount that exceeds by 3% the value reported in the same period in 2017.
According to figures from the Superintendency of Insurance and Reinsurance, between the first seven months of 2017 and the same period in 2018, the value of subscribed premiums went from $839 million to $864 million.
The Judicial Power in Honduras is putting out to tender collective life insurance and medical hospital policies for the institution's officials and employees at the national level.
In Panama, industry authorities have ordered insurers to refrain from applying increases to individual premiums that are not contemplated or authorized in health policies.
According to the order given by the Superintendency of Insurance and Reinsurance, insurers that made increases to policies that were unforeseen and not authorized by the regulator, in the last twelve months, will have to refund the excess to customers.
Ten years after the elimination of the insurance monopoly in Costa Rica, private insurers have managed to "steal" from the state company about 12% of the market.
Mapfre Seguros, Sagicor, Assa Compañía de Seguros and Best Meridian Insurance are some of the 12 private companies that have been competing in the Costa Rican insurance market since 2008, when the law came into force opening up the business which for more than 80 years was in the hands of a single company, Instituto Nacional de Seguros.
Between the first semester of last year and the same period in 2018 the value of premiums written in El Salvador saw almost no change, following the line of the weak growth of 1% reported between 2016 and 2017.
According to the Salvadoran Association of Insurance Companies (ASES), insurers reported premiums of $306.5 million in June of this year, which is equivalent to an increase of just 0.11% compared to the $306.2 million recorded up to the same month in 2017.
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.
In Costa Rica, only the state insurer and Oceánica de Seguros presented proposals for the tender of the Social Security Fund's all-risk insurance service, estimated at more than $2 billion.
Taking part in the process to award a contract for a policy to protect all of the buildings, machinery, equipment, furniture, merchandise and even the collection of works of art and books and magazines owned by the Social Security department, were the National Insurance Institute (Instituto Nacional de Seguros or INS) and Oceánica de Seguros.
In Panama during the first four months of the year $491 million was written in premiums, which is 3% more than the $375 million reported in the same period in 2017.
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%.
In Panama during the first three months of the year $367 million was written in premiums, which is 2% more than the $360 million reported in the same period in 2017.
During the first quarter of 2018, the three insurance companies that wrote the largest proportion of these premiums were Assa Compañía de Seguros, Compañía Internacional de Seguros and Mapfre Panamá, with $70 million, $62 million and $56 million, respectively.
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.
The Judicial Branch of Guatemala is putting out to tender a medical expenses insurance policy for 156 magistrates of the Supreme Court of Justice and Courts of Appeals.
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