Aarkstore - The Insurance Industry in Panama

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The Insurance Industry in Panama, Key Trends and
Opportunities to 2018
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Category Insurance
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Summary
The Insurance Industry in Panama, Key Trends and
Opportunities to 2018 report provides in-depth
industry analysis, information and insights into
the insurance industry in Panama, including The
Panamanian insurance industrys growth prospects
by insurance segment and category The
competitive landscape in the Panamanian insurance
industry The current trends and drivers in the
Panamanian insurance industry Challenges facing
the Panamanian insurance industry The detailed
regulatory framework of the Panamanian insurance
industry
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Synopsis
Panama is one of the most promising economies in
Central America, and the second-largest in Latin
America after Chile. The countrys economy is
dependent on its service industry, especially
banking and tourism, and ranked 40th on the 2013
Global Competiveness Index. The industry grew in
terms of gross written premium value recording a
review-period (20092013) CAGR of 10.3. Over the
forecast period (20132018), the industry is
projected to register a CAGR of 9.7. Following a
process of currency substitution, Panama adopted
the US dollar after independence, which resulted
in a fall in transaction costs when trading with
other countries also using the dollar. The
industry is regulated by Superintendent of
Insurance and Reinsurance (SSRP) and consists of
32 insurers. The five leading insurers together
accounted for 62.8 (US496.4 million) of the
total industrys premium in 2013.
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Key Highlights
Panama is one of the fastest-growing economies in
Central America and recorded the highest GDP
growth rate (CAGR of 8.8) in 2013 The
Panamanian insurance industry grew at a CAGR of
10.3 during the review period The new insurance
law, Law 12 will open distribution channels and
liberalize the insurance industry The widening of
the Panama Canal will also increase water
traffic, with approximately 4,750 additional
ships annually Low penetration offers
opportunities for new insurers to enter and
participate in the industry The Panamanian
insurance industry is supervised and regulated by
Superintendencia de Seguros y Reaseguros de
Panama (SSRP) The Panamanian insurance industry
is moderately consolidated and consisted of 32
insurers in 2013 SSRP increased the minimum paid
capital requirement from US2.0 million to US5.0
million
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Reasons To Buy
Make strategic business decisions using in-depth
historic and forecast industry data related to
the Panamanian insurance industry and each
segment within it. Understand the demand-side
dynamics, key trends and growth opportunities in
the Panamanian insurance industry. Assess the
competitive dynamics in the Panamanian insurance
industry. Identify the growth opportunities and
market dynamics in key segments. Gain insights
into key regulations governing the Panamanian
insurance industry, and their impact on companies
and the industry's future.
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Table of Contens
1 Executive Summary 2 Introduction 2.1 What is
this Report About? 2.2 Definitions 2.3
Methodology 3 Panamanian Insurance Industry
Overview 3.1 Panamanian Insurance Industry 3.2
Key Industry Trends and Drivers 3.3 Challenges 4
Industry Segmentation 4.1 Life Insurance 4.2
Individual Life Insurance 4.3 Life Insurance by
Category 4.3.1 Individual whole life insurance
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The Insurance Industry in Panama, Key Trends and
Opportunities to 2018 Published Jan 2015 161
Pages Panama is one of the most promising
economies in Central America, and the
second-largest in Latin America after Chile. The
countrys economy is dependent on its service
industry, especially banking and tourism, and
ranked 40th on the 2013 Global Competiveness
Index.
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Contact Us
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