Fitch Ratings-Colombia-14 January 2021: Fitch Ratings’ outlook for the insurance sector in Panama is worsening, based on the behavior of the country’s macroeconomic variables. Fitch expects the economy to contract 13.2% followed by a 4.3% rebound in 2021. Although the growth of the main business lines was affected by the pandemic in 2020, the technical result was resilient, benefiting from lower claims and demanding cost controls. However, Fitch is monitoring the higher expected claim rate and the evolution of the economy due to the increase in coronavirus cases.

For more details see “Fitch Ratings Outlook 2021: Insurance in Panama” available at ‘www.fitchratings.com‘ or by clicking on the link above.

Stay Safe!!