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More Insurance Brokers in Costa RicaMonday, May 7, 2012 The number of insurance intermediary companies grew by 75% from 8 to 14 in the last twelve months. The number of insurance brokers in Costa Rica is now 14, a significant increase, up 75% from March 2011 to March 2012. While the number of intermediaries has increased, the number of insurance companies in decreased to nine during the same period, a reduction of 11.4%. 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. Insurance Market Heats Up in Costa RicaWednesday, March 9, 2011 Insurance companies are fighting it on the streets and going door-to-door. The insurance market was open to the competition by private operators back in 2009. This has led market players to become much more aggressive in the search for new clients and in the fight to keep old ones. 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. Costa Rica: The Insurance Industry in June 2015Thursday, October 22, 2015 An accounting change in state insurance company explains the reduction of 3% in total industry premiums at the end of the first half of 2015 compared to the same period in 2014. From a report by Fitch Ratings: Nicaraguan Insurance MarketWednesday, July 1, 2015 In the first five months of the year premiums totaled $77.9 million, 4% more than in the same period in 2014. Despite being the smallest of the region's insurance markets, the rate at which premiums sold by the five insurance companies operating in the country have grown allows them to estimate that at the end of 2015 they will reach $200 million in revenue, a figure higher than the $172 million in 2014. More Insurance Companies in GuatemalaWednesday, October 5, 2011 With the entry of the US firm BMI, Guatemalans now have a new health insurance option available in the country. The Superintendency of Banks (SB) has authorized a change in the corporate name of the company, which was registered in the country as the BMI Insurance Company of Guatemala, Sociedad Anonima. Costa Rica: Growth in Insurance Brokerage BusinessTuesday, November 29, 2016 The existence of 26 active brokerage companies confirms the confidence that this marketing channel continues to earn in the insurance market. Since the opening up of the Costa Rican insurance market in 2010, momentum has gained in the activity of insurance brokers, going from one single company to 26 companies. Added to this are two entities with conditional authorization given by the Superintendent of Insurance (SUG): Innova Sociedad Corredora de Seguros and Akros Corredores de Seguros, while another two have recently filed applications, and are in the stage of reviewing regulatory documents, according Elfinancierocr.com. Costa Rica: Insurance Agents vs. BrokersMonday, August 23, 2010 The country's new insurance law restricts which products agents can sell but the restrictions do not apply to brokers. Insurance agents, due to their contractual relationship with insurance companies, can only offer their products. However, they may do this with different insurers at the same time, provided that these companies' products belong to different categories. 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. Panama: More Risk Control for InsurersTuesday, September 27, 2016 Insurers must make separate analysis for each insurance categories and when the results are deficient, they should have reserves. Agreement 4 approved in April by the Superintendent of Insurance of Panama adds that when the results are deficit for two consecutive years, "... in addition to the reserve an analysis must be submitted to the regulator of the causes of the deficiency and a plan to correct it. Once the category has positive results again, the reserve can be released and the company can make use of it." 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 Insurance Company Authorized in Costa RicaThursday, February 21, 2013 Sagicor has been authorized by the Superintendent of Insurance to sell personal and general policies. According to an article in Elfinancierocr.com, Sagicor "... |
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Wednesday, July 6, 2022 - last update: Monday, 5:34 pm
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