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Panama Insurance Market - September 2016Monday, November 14, 2016 In the first nine months of the year premium income barely exceeded $1 billion, growing by less than 1% compared to the same period in 2015. The premiums of insurance companies between January and September totaled $1.023 billion, registering a slight increase of 0.8% or $7.7 million compared with the $1,015 million in the same period last year, according to the Superintendency of Insurance in Panama. Panama: Insurance Companies to Pay MoreFriday, October 14, 2011 The annual supervision and regulation rate will increase from $2500 to $50 000 for insurance companies and $75 000 for reinsurers. The new insurance and reinsurance law brings with it several changes, among which is an increase in the rate charged by the Superintendency for overseeing businesses that offer insurance in the country. Panama: Legal intervention of ReinsurerMonday, August 14, 2017 For failing to comply with minimum capital requirements, the Superintendency of Insurance has ordered the intervention into Alliance Re Reassurance Suisse S.A. for a period of six months. For failing to comply with article 47 of the insurance market law, the Board of Directors of the Superintendency decided to take over operation of the reinsurer for 180 days. In addition to breaching the minimum capital required by law, the reinsurer was late in submitting financial statements for the year 2015. 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": Panama Boosts Reinsurance MarketMonday, September 29, 2014 The Superintendent of Insurance is preparing a bill to promote market development by encouraging the installation of foreign reinsurance companies in the country. The bill, still in draft form, aims to attract major reinsurance companies to the country and use the market already operating in the country as a platform. 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: Insurance in Panama Grows as Same Pace as EconomyMonday, January 20, 2014 With an increase of 9% compared to 2012, in 2013 total premiums added up to $1.244 billion, a record in the country and the highest in Central America. The Panamanian insurance industry closed 2013 with $1.244 million in premiums, while in 2012 the figure was $1.138 billion, which represents an increase of 9.2%.This figure is the highest in Central America. New Association of Insurance Companies in Costa RicaWednesday, February 17, 2010 It groups all the insurance companies authorized to operate in the country. Called ACAR (Costa Rican Association of Insurers and Reinsurers), it is chaired by Guillermo Constenla, head of INS, the National Insurance Institute. Panama's Potential in ReinsuranceMonday, June 18, 2012 The country aims to position itself as an international or reinsurance hub, where companies meet the needs of other companies in Latin America The Superintendent of Insurance and Reinsurance, Luis Della Togna, said there is already interest from several companies, including Lloyd's of London, who see opportunities for growth in the region. Insurance Trends in NicaraguaWednesday, September 3, 2014 Auto policies are the fastest growing category, with an increase of 14% so far this year compared to 2013. Lack of a culture of prevention is preventing the emerging Nicaraguan insurance market from achieving high growth rates in most policies. Insurance Market up 14% in NicaraguaMonday, June 30, 2014 Between December 2012 and December 2013 revenue from premiums went from $138 million to $156 million. The pace of growth in the insurance sector in Nicaragua increased during the first quarter of 2014, registering premiums of $43 million, an increase of 21% compared to the same period in 2013. Guatemala: The Potential of The Insurance SectorThursday, February 6, 2014 The sector's share in GDP is only 1.2 %, whereas in El Salvador and Costa Rica it amounts to 2.1% and 2% respectively. The insurance market in Guatemala has a lot of potential 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." Panama 2013: Insurance Was Not Good BusinessMonday, December 16, 2013 Industry participants predict a year-end in the red because of a sharp increase in claims for losses. Prensa.com reports: "Although total premiums up to October 2013 was $976 million, with growth in the sector of 9.6% compared to the same period last year, the directors of the Panamanian Association of Insurers (Apadea) predict that at the end of the year there will be a loss. " Nicaragua: Insurance Market up to MarchMonday, May 26, 2014 Products in the category of life, accident and health lead the 6% increase in premiums seen in the first three months of the year compared with the same period in 2013. Total premiums paid in the first quarter amounted to $42 million, of which 37.4% were for first party car insurance, 21.0 % for fire insurance and associated lines, 19.09 % for life insurance (individual and collective) and the remaining 6.01 % for health insurance. |
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Monday, July 4, 2022 - last update: Saturday, 1:45 am
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