The government has dedicated considerable time and energy in recent years to improving the business climate for manufacturing firms and for the private sector in general. The aim is both to make the Trinidad and Tobago economy more competitive, and to attract increased inflows of foreign investment. “Three to four years ago we had no fewer than 13 separate state agencies...
Industry
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Articles & Analysis | Enhancing Trinidad and Tobago's business climate for investors from The Report: Trinidad & Tobago 2015
Interviews & Viewpoints | Mauricio de la Guardia, CEO, Internacional de Seguros: Interview from The Report: Panama 2015
How much consolidation can be expected in the short-to-medium term, and what is the impetus for recent merger and acquisition activity?
Articles & Analysis | Profitability has taken a hit due to soaring claims costs in Panama from The Report: Panama 2015
In terms of premiums, the country’s insurance sector has been growing consistently since 2009. However, by some measures, profitability has been falling. According to Panama’s insurance trade association, Asociación Panameña de Aseguradores (APADEA), technical profits (i.e., the earnings from underwriting of risks) totalled $13.5m in 2013, while in the first nine months...
Articles & Analysis | Insurance premiums and claims payments are on the up in Panama from The Report: Panama 2015
Most companies in Panama’s insurance sector, which is open to regional and global multinational firms, are composite insurers (i.e., active in both life, health and general insurance). Collectively, they provide a wide variety of products. Total written premiums have been growing at high single-digit rates, while insurance penetration (i.e., premiums as a percentage of...
In global terms Panama ranks as a small but dynamic national market for insurers. According to the Superintendency of Insurance and Reinsurance of Panama, general insurers wrote gross premiums of $791m in 2014, 6.2% more than in 2013, while life/health insurers wrote gross premiums of $552m, up 10.8%. Total insurance penetration was 3.07% that same year, with total density at $342 per capita....
Despite slower GDP growth of 6.2% in 2014, according to the Ministry of Economy and Finance, Panama remains one of Latin America’s fastest growing economies, a trend set to continue in coming years with the IMF forecasting average annual growth of around 6.5% over the next five years.