In ----, gross life premiums will grow by -.- , reaching USD---mn, which equates to USD--.- per capita. Panama s ongoing development as an international business centre will continue to boost the industry as a whole, though its benefits will be felt more substantially in the non-life sector than in life business. ...In ----, gross life premiums will grow by -.- , reaching USD---mn, which equates to USD--.- per capita. Panama s ongoing development as an international business centre will continue to boost the industry as a whole, though its benefits will be felt more substantially in the non-life sector than in life business. Despite the apparent weakness of market fragmentation, growth of --- annually will be the norm through the forecast period to ----. ...Supporting growth in Panama s life sector is ongoing improvement in the average household income rate in the country. Panamanian households have seen large tailwinds stemming from years of near double-digit headline expansion, which has moved one third of the country into the middle class and alleviated
...The outlook for the life insurance market in Panama is highly positive, with growth expected to gather pace over the medium term as household income rates improve and insurers raise awareness of the benefits of life cover, with the annual growth in gross premiums expected to reach -.- in ----. We maintain our forecast for -.- growth in the life insurance sector in Panama in ----, with premiums forecast to reach USD---mn. A gradual acceleration of growth is expected over the remainder of the forecast period, with premiums reaching USD---mn in ----. We maintain our forecast for -.- growth in motor insurance premiums in ----, reaching USD---.-mn, up from USD---.-mn in ----, ahead of an acceleration in annual premium growth during the remainder of our forecast period, peaking at -.- in ----, which will take premiums in this sub-sector to USD---.-mn. We have revised down our forecasts slightly for health insurance; we foresee premiums rising -.- in ----, compared to our earlier forecast of growth of -.- , and believe that premium growth will then remain at around -.- through the rest of our forecast period. ...We maintain our forecast for -.- growth in motor insurance premiums in ----, reaching USD---.-mn, up from USD---.-mn in ----, ahead of an acceleration in annual premium growth during the remainder of our forecast period, peaking at -.- in ----, which will take premiums in this sub-sector to USD---.-mn. We have revised down our forecasts slightly for health insurance; we foresee premiums rising -.- in ----, compared to our earlier forecast of growth of -.- , and believe that premium growth will then remain at around -.- through the rest of our forecast period.
...Panama s life insurance market is, by some margin, the largest life insurance sector in the Central American region. By global standards, the market is still small, yet there exists a proliferation of insurers vying for market share. ...
