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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 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. 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: 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. Consumer Protection In InsuranceTuesday, October 4, 2011 A new insurance law which is under discussion in the Legislative Assembly provides for the creation of a Consumer Ombudsman's Office for Insurance. This unit, within the Superintendency for Insurance, is responsible for representing insurance consumers from the public, creating guidelines for protection and providing legal representation when necessary. Growing Insurance Market in NicaraguaFriday, October 28, 2011 Projections for the insurance industry show growth of between 7 and 8% by the end of 2011. Total net premiums will close at between $123 and $124 million, exceeding the $115 million recorded last year, said Luis Reynosa, of the Nicaraguan Association of Professional Insurance Agents, Anapsos. 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. Five Insurers Dominate Panamanian MarketMonday, January 23, 2012 Internacional de Seguros and ASSA are the industry leaders of a sector that netted $936 million in premiums in 2011, a 16% growth. Five companies control the insurance market in Panama: Internacional de Seguros, ASSA, Mapfre Panamá, Assicurazioni Generali and Aseguradora Ancón. Opportunities in the Central American insurance marketTuesday, March 20, 2012 A low penetration level of insurance as related to GDP allows for sustainable growth of insurance businesses. In the past five years, Panama has seen an explosion of commercial development and an influx of insurance companies. The country is about to remake its insurance legislation, which is also aimed at helping the country become a regional hub for insurance and reinsurance, according to Carlos Abrahams, a director at Global Intermediaries. Global is a specialized reinsurance consultancy and brokerage in Panama City, Panama. 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. 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. Results of Insurance De Privatization in Costa RicaMonday, July 16, 2012 Four years after the de-monopolization of the market, the National Institute of Insurance holds 91.5% of insurance premiums and 12 private insurance companies have won the remaining 8.5%. An analysis of the topic made by Juan Pablo Arias in his article in Nacion.com, shows that the main benefit of the new competitive environment is growth of the sector in terms of policies issued, which increased by 24% from the date of de-monopolization, with growth attributed to the lowered rates. Increase in Sales of Health Insurance in Costa RicaWednesday, November 5, 2014 Between January and September revenue from sales of these policies increased by 74% compared to the same period in 2013, with the sale of group insurance policies to companies being the factor driving the growth. According to data from the Superintendent of Insurance, in January-September, the sector as a whole has accumulated $116 million in premiums for such policies. |
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Monday, July 4, 2022 - last update: Saturday, 1:45 am
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