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Radiography of the Insurance Sector in Central AmericaWednesday, September 21, 2016 Panama stands out as the country with the highest penetration rate in the region, and at the other end is Honduras, with the lowest rate, and below the average in Latin America. From a report by MAPFRE: "Trends of growth in insurance markets in Latin America": El Salvador: Insurance Sector in the First Half of 2015Friday, October 23, 2015 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: El Salvador: Insurers Fined for Anticompetitive AgreementsThursday, June 11, 2015 A ruling was given that there was manipulation and suppression of offers made for the purpose of market-sharing in the AFP’s tender for hiring of Disability Insurance. From a statement issued by the Superintendency of Competition (SC): Salvadorian Insurance Market IncreasesThursday, August 2, 2012 In the first five months of the year, the insurance market recorded an increase of 8% compared to the same period in 2011. Raul Betancourt, legal advisor to the Salvadoran Association of Insurance Companies (ASES), noted that total industry premiums amounted to $205 million. "This growth is attributed to the pension insurance and life insurance contracts", he said. Good Prospects for Insurance CompaniesTuesday, May 29, 2012 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 ": Good Figures for Regional Insurance MarketFriday, March 16, 2018 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." Latin America: The Golden Child for InsurersTuesday, May 21, 2013 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. Insurance Market in El Salvador Not Taken OffWednesday, October 23, 2013 In the last five years penetration of the insurance market did not reach even 2% of GDP because people see insurance as an unnecessary expense. According to Richard Cohen, executive president of the Salvadoran Association of Insurance Companies (ASES), penetration of this market has the potential to grow up to four times in the next few years. However, this depends on intermediaries applying the best strategies to introduce the product, because they will be the ones to negotiate the best options for a policy with clients. Company Profile Organization that operates in Costa Rica, El Salvador, Guatemala and Panama.
Insurance: Multinational Acquires Central American CompanyMonday, December 23, 2019 Grupo Unity, a regional insurance broker in Central America, will be acquired by Willis Towers Watson, a company specializing in risk management and insurance brokerage. According to a press release from Willis Towers Watson, the objective of the transaction "...is to increase the reach, scale and talent of Willis Towers Watson in the Latin American region, both for the Corporate Risk and Brokerage (CRB) segment, and for Human Capital and Benefits (HCB)." New Laws for the Insurance MarketThursday, May 24, 2018 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. New Financial Chamber in El SalvadorThursday, June 17, 2010 The financial private sector created the Chamber of Associations of the Financial Sector of El Salvador. It aims to group all the country’s financial associations and interact with the future single superintendence, which will combine the three that exist now. Costa Rica and Cross-Border InsuranceWednesday, June 3, 2009 The Costa Rican Superintendent of Insurance issued a technical note to set limits on the marketing of insurance by foreign companies. Following the adoption of DR-CAFTA, foreign insurers can market insurance for shipping, commercial aviation and goods in transit in Costa Rica, without being formally established in the country. It is enough to register with the Superintendent of Insurance (SUGESE) and obtain approval for each product marketed.
INTERACTIVE INFORMATION SYSTEM
Covid-19: Outlook for the Financial SectorTuesday, March 24, 2020 The impact of the coronavirus crisis on the financial sector in Central America is expected to be felt mainly in services related to stock brokerage and investment advice, where a drop is expected. The "Information System for the Impact Analysis of Covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the degree of impact that the crisis will have on companies according to their sector or economic activity, during the coming months. Company Profile Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
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Wednesday, July 6, 2022 - last update: Monday, 5:34 pm
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