This is just another sign of how the economic drivers are at work here in Panama.  The growth of Panama’s economy has increased sales in the insurance sector and improved the business climate, executives say.

The Panamanian insurance market grew by 14.6% in premiums in 2012, the highest in Central America, and this result is linked to the strong 10.5% growth of the economy and the positive business climate, industry leaders said .

“The insurance and reinsurance market is showing an interesting growth at the moment driven by the boom of the Panamanian economy and good business climate, said Carlos Alfredo Niño Pérez, Vice President and Deputy Chief Underwriting Officer (CUO)”, according to an article in PanamaAmerica.com.pa.

The immediate response to incidents also contributed to the increased sales of insurance and reinsurance premiums last year, estimated Niño.

Source: Panamaamerica.com.pa