Panama Insurance Q3 2018
Panama has a well-established insurance sector in the Latin American region, characterised by a healthy degree ofdensity and penetration. The insurance sector dynamics reflect the high incomes of domestic households and well as thesophistication of the country’s large financial services industry. The short- and medium-term outlook for the life and non-lifeinsurance sectors remains positive and will be supported by a growing economy, rising incomes and greater domestic consumption.The local carriers are well equipped to capitalise on growth trends, as they enjoy significant economies of scale and brandrecognition. The recent high-profile exits of multinationals, including AIG and Generali, illustrates the challenges foreign providersface in establishing a foothold in this competitive marketplace.
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