In the first nine months of the year premium income barely exceeded $1 billion, growing by less than 1% compared to the same period in 2015.

The premiums of insurance companies between January and September totaled $1.023 billion, registering a slight increase of 0.8% or $7.7 million compared with the $1,015 million in the same period last year, according to the Superintendency of Insurance in Panama.

The stagnation in growth is explained by a fall of almost 10% in underwriting premiums in the category of various risks, and falling 52% in the field of theft. In the case of bonds a low of 24% was also recorded. 

Auto insurance premiums generated $198 million in the period in question, 6% more than during the previous period.

See report full by the Superintendent of Insurance.