Guatemala: Insurance Companies Broaden Range of Services

Starting next year it is expected that the Superintendency of Banks (SIB) will authorize the insurers Best Meridian Insurance Company (BMI) and the British Union Provident Association (Bupa) to start operations .

"BMI acquired the license to operate from World Aseguradora Mundial-Colectivos Empresariales, previously Empresa Guatemalteca Cigna de Seguros, to venture into Guatemala and specializes in life insurance, medical expenses, disability and hospital.

For their part, executives said Bupa offer comprehensive health plans with local and international coverage", reported Prensalibre.com.

Insurance industry analysts said that in the face of increased competition, companies have chosen to try to retain their customers, primarily those with high net worth, as these are the customers being targeted by the new companies coming in.

Source: prensalibre.com

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