Insurance Sector Projects 10% Growth in 2012

Such growth would mean about $136 million in terms of sales, said Luis Reynoza, president of the Nicaraguan Association of Professional Insurance Agents (Anapsos).

"This projection is based on an expected increase in foreign investment to 1.000 million dollars, exports to $3.000 million (minimum) and on the economic stability Nicaragua is displaying. All these things make us think that we will grow, he argued.

In 2011, preliminary information points to a 7% increase in insurance, with an amount fluctuating between 123 and 124 million dollars", reported Elnuevodiario.com.ni.

Source: elnuevodiario.com.ni

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Growing Insurance Market in Nicaragua

October 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.

Panama Insurance Sector Grows 9.4%

July 2009

From January to May, the volume of hired policies was $318.1 million, 9.43% more than the same period of 2008.

Theft policies registered the larger increase (40.3%), followed by fire protection (31.09%). Health insurance grew 14.13% and automotive policies increased 5%.

José Miguel Pinzón, Padeco Insurance comptroller, declared in a Prensa.com article that "...

Panama: Insurance Industry Slows Down

November 2009

The number of sold contracts increased 9.6% in the third quarter of the year, three times less than in the same period of 2008.

In September, insurers sold $66.7 million worth of premiums, 5.86% less than the same month of last year.

"Many explain this slowdown as a result of the global financial situation, but some experts are arguing that the previous increase was caused by higher prices, not higher volume", reported Prensa.com.

New Panamanian Insurance Law In The Works

February 2010

Panama’s insurance industry grew from 17 participants two years ago to 27 today, and $850 million in insurance policies.

An update to Panamanian insurance legislation has been discussed for the past 8 years. Talks are currently being held between insurers and regulators to modify Law 59 of 1996, the one currently in force in a growing, competitive insurance market.