Panama Insurance Industry – Key Trends and Opportunities to 2026
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
The Panama insurance market size was $1.80 billion in 2021. The market is expected to grow at a CAGR of more than 5% from 2021 to 2026.
The Panama insurance market research report provides a detailed outlook by product category for the Panamanian insurance industry. It provides values for key performance indicators such as gross written premium, penetration, premium ceded, profitability ratios, and premium by line of business, during the review period and forecast period. The report also analyzes distribution channels operating in the segment and gives a comprehensive overview of the Panamanian economy and demographics. Moreover, it provides detailed information on the competitive landscape in the country and includes details of insurance regulations and recent changes in the regulatory structure.
To gain more information on the Panama insurance market forecast, download a free report sample
Key Panama Insurance Market Trends
Microserfin Company, in collaboration with Mapfre Insurance and Corporación Continental, launched a microinsurance product named Microsaf to provide funeral protection to microentrepreneurs and their family members in the event of death. In addition, this policy will mark a beginning for the microinsurance industry in Panama.
Seguros Sura launched SeguroxKM, an innovative and intelligent initiative, which allows drivers to save up to 30% in the payment of their monthly premium based on the kilometers that the insured travel in the month. With the help of a GPS device that is installed in the car, the person can access the My Portal tool online from any device and instantly know their mileage and the calculation of their rate associated with the mileage traveled, based on the table of kilometer ranges and discounts. In addition, it also provides security by having a record of the car’s location while the device is on.
Key Segments in The Panama Insurance Market
The key segments in the Panama insurance market are life insurance and general insurance.
Life insurance market in Panama
The Panama insurance industry was dominated by the life insurance segment in 2021. Life PA&H was the largest sub-segment in 2021 followed by group life.
General insurance market in Panama
Commercial general insurance was the leading segment in the general insurance market in 2021. Motor insurance was the largest sub-segment in 2021. However, its market value declined due to strict lockdown and quarantine measures imposed because of COVID-19, which resulted in a fall in the number of vehicles sold.
Panama Insurance Market Analysis by Segments
For more segment insights, download a free report sample
Leading Companies in The Panama Insurance Market
Some of the leading insurance companies in Panama are Assa Compania de Seguros SA (Panama), Mapfre Panama SA, Mercantil Seguros Panama SA, Compania Internacional De Seguros SA, Seguros Suramericana SA, General De Seguros SA, Acerta Compañia De Seguros SA, Chubb Seguros Panama SA, and Aseguradora Ancon SA. ASSA Compania De Seguros was the largest insurer in 2021.
Panama Insurance Market Analysis by Companies
To know more about the leading companies, download a free report sample
Market Report Overview
Market size (2021) | $1.80 billion |
CAGR (2021 to 2026) | >5% |
Key segments | Life Insurance and General Insurance |
Leading companies | Assa Compania de Seguros SA (Panama), Mapfre Panama SA, Mercantil Seguros Panama SA, Compania Internacional De Seguros SA, Seguros Suramericana SA, General De Seguros SA, Acerta Compañia De Seguros SA, Chubb Seguros Panama SA, and Aseguradora Ancon SA |
Scope
This report provides a comprehensive analysis of the Panamanian insurance industry –
- It provides historical values for the Panama insurance industry for the report’s review period, and projected figures for the forecast period.
- It offers a detailed analysis of the key categories in the Panamanian insurance industry, and market forecasts till 2026.
- It profiles the top life insurance companies in Panama and outlines the key regulations affecting them.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Panamanian insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Panamanian insurance industry.
- Assess the competitive dynamics in the Panamanian insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Mapfre Panama, SA
Mercantil Seguros Panama
Compania Internacional De Seguros, SA (Panama) Seguros Suramericana de Panama General de Seguros Acerta Compañia de Seguros Aseguradora Ancon SA (Panama)
Table of Contents
Frequently asked questions
-
What was the Panama insurance market size in 2021?
The insurance market size in Panama was $1.80 billion in 2021.
-
What is the Panama insurance market growth rate?
The insurance market in Panama is expected to grow at a CAGR of more than 5% from 2021 to 2026.
-
What are the key segments in the Panama insurance market?
The key segments in the Panama insurance market are life insurance and general insurance.
-
Which are the leading companies in the Panama insurance industry?
Some of the leading companies in the Panama insurance industry are Assa Compania de Seguros SA (Panama), Mapfre Panama SA, Mercantil Seguros Panama SA, Compania Internacional De Seguros SA, Seguros Suramericana SA, General De Seguros SA, Acerta Compañia De Seguros SA, Chubb Seguros Panama SA, and Aseguradora Ancon SA.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.