Panama: The Largest Insurance Market in the Isthmus
Panamanian insurers managed to sell $1.1 billion worth in 2011, beating Costa Rica ($794 million) and Guatemala ($620 million).
Monday, April 9, 2012
Panamanian insurers managed to sell $1.1 billion worth of insurance in 2011, according to the Superintendency for Insurance and Reinsurance in Panama. With the number of premiums written by the industry beating Costa Rica ($794 million) and Guatemala ($620 million).
Grupo Assa is the largest shareholder of Cardinal Insurance, a company that began operations in Colombia offering compliance, guarantees and legal liability policies.
Private insurers are beginning to outperform the state insurance company and have so far captured a 40% market share.
Internacional de Seguros and ASSA are the industry leaders of a sector that netted $936 million in premiums in 2011, a 16% growth.
In the first quarter of the year, total premiums in the country totaled $338 million, 5% more than in the same period last year, driven by automobile insurance.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar