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The Insurance Industry in Panama, Key Trends and Opportunities to 2016

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  • 1. The Insurance Industry in Panama, Key Trends andOpportunities to 2016Report Details:Published:December 2012No. of Pages: 132Price: Single User License – US$1950SynopsisThe report provides in depth industry analysis, information and insights into the insurance industryin Panama, including:• The Panamanian insurance industry’s growth prospects by insurance segments and sub-segments• The competitive landscape in the Panamanian insurance industry• The current trends and drivers of the Panamanian insurance industry• The challenges facing the Panamanian insurance industry• The regulatory framework of the Panamanian insurance industrySummaryPanama’s insurance market is the one of the largest in Central America. Since 2004 the countryhas seen strong economic growth and a stable political environment, which led to the growth ofthe insurance industry. The country is also among the largest recipients of foreign directinvestment (FDI) among Latin American countries. Panama’s economic growth is centered uponthe Panama Canal which links the Atlantic and Pacific oceans and serves as a key crossroads ofglobal trade. Its huge expansion plans are considered to be one of the worlds largestinfrastructure projects, and are expected to have a significant impact on Panama’s economy andits insurance industry.ScopeThis report provides a comprehensive analysis of the insurance industry in Panama:• It provides historical values for the Panamanian insurance industry for the report’s 2007–2011review period and forecast figures for the 2012–2016 forecast period• It offers a detailed analysis of the key segments and sub-segments in the Panamanian insuranceindustry, along with forecasts until 2016• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio,commissions and expenses, combined ratio, total assets, total investment income and retentions• It profiles the top insurance companies in Panama and outlines the key regulations affecting
  • 2. themReasons To Buy• Make strategic business decisions using in depth historic and forecast industry data related tothe Panamanian insurance industry and each segment within it• Understand the demand-side dynamics, key trends and growth opportunities within thePanamanian insurance industry• Assess the competitive dynamics in the Panamanian insurance industry• Identify the growth opportunities and market dynamics within key segments• Gain insights into key regulations governing the Panamanian insurance industry and its impacton companies and the industrys futureKey Highlights• Panama’s insurance market is the one of the largest in Central America.• Since 2004 the country has seen strong economic growth and a stable political environment,which led to the growth of the insurance industry.• The country is also among the largest recipients of foreign direct investment (FDI) among LatinAmerican countries.• Panama’s economic growth is centered upon the Panama Canal which links the Atlantic andPacific Oceans and serves as a key crossroads of global trade..• Its huge expansion plans are considered to be one of the worlds largest infrastructure projects,and are expected to have a significant impact on Panama’s economy and its insurance industry.Get your copy of this report @http://www.reportsnreports.com/reports/209585-the-insurance-industry-in-panama-key-trends-and-opportunities-to-2016.htmlMajor points covered in Table of Contents of this report includeTable of Contents1 Executive Summary2 Introduction2.1 What is this Report About?2.2 Definitions2.3 Methodology3 The Panamanian Insurance Industry Overview3.1 Insurance Industry Overview3.2 Panama Insurance Industry – Size, 2007–20163.3 Key Industry Trends and Drivers3.4 Challenges3.5 Regulation4 Segmentation4.1 Life Insurance Growth Prospects by Category4.1.1 Individual life insurance4.1.2 General annuity insurance
  • 3. 4.1.3 Group Life insurance4.2 Non-Life Insurance Growth Prospects by Category4.2.1 Property insurance4.2.2 Motor insurance4.2.3 Liability insurance4.2.4 Marine, aviation and transit insurance4.3 Personal Accident and Health Insurance Growth Prospects by Category4.3.1 Personal accident insurance4.3.2 Health insurance4.4 Reinsurance Segment Size by Insurance Segment, 2007–20165 Competitive Landscape5.1 Overview5.2 Leading Companies5.2.1 Mapfre Panama – company overview5.2.2 Assa, Compañía de Seguros, SA – company overview5.2.3 Pan-American Life Insurance of Panama, SA – company overview5.2.4 National Union Fire Inc. Co. of Pitts, PA – company overview6 Macroeconomic Indicators6.1 GDP at Constant Prices (US Dollars)6.2 GDP Per Capita at Constant Prices (US Dollars)6.3 GDP at Current Prices (US Dollars)6.4 Construction Output at Current Prices (US$ Billion)6.5 Construction Net Output at Current Prices as a Percentage of GDP6.6 Arable Land6.7 Exports as a Percentage of GDP6.8 Number of Air Passengers6.9 Healthcare Expenditure Per Capita6.1 Employed Population6.11 Annual Disposable Income6.12 Annual Disposable Income Per Capita6.13 Total Population7 Appendix7.1 Methodology7.2 Contact Us7.3 About Timetric7.4 DisclaimerList of TablesTable 1: Insurance Industry DefinitionsTable 2: Panamanian Insurance – Overall Written Premium by Segment (US$ Billion), 2007–2011Table 3: Panamanian Insurance – Overall Written Premium by Segment (US$ Billion), 2011–2016Table 4: Panamanian Insurance – Segmentation (% Share), 2007–2016
  • 4. Table 5: Panamanian Life Insurance – Written Premium by Category (US$ Billion), 2007–2011Table 6: Panamanian Life Insurance – Written Premium by Category (US$ Billion), 2011–2016Table 7: Panamanian Life Insurance – Paid Claims (US$ Billion), 2007–2011Table 8: Panamanian Life Insurance – Paid Claims (US$ Billion), 2011–2016Table 9: Panamanian Life Insurance – Incurred Loss (US$ Billion), 2007–2011Table 10: Panamanian Life Insurance – Incurred Loss (US$ Billion), 2011–2016Table 11: Panamanian Life Insurance – Loss Ratio (%), 2007–2011Table 12: Panamanian Life Insurance – Loss Ratio (%), 2011–2016Table 13: Panamanian Life Insurance – Combined Ratio (%), 2007–2011Table 14: Panamanian Life Insurance – Combined Ratio (%), 2011–2016Table 15: Panamanian Life Insurance – Total Assets (US$ Billion), 2007–2011Table 16: Panamanian Life Insurance – Total Assets (US$ Billion), 2011–2016Table 17: Panamanian Life Insurance – Total Investment Income (US$ Billion), 2007–2011Table 18: Panamanian Life Insurance – Total Investment Income (US$ Billion), 2011–2016Table 19: Panamanian Life Insurance – Retentions (US$ Billion), 2007–2011Table 20: Panamanian Life Insurance – Retentions (US$ Billion), 2011–2016Table 21: Panamanian Individual Life Insurance – Written Premium (US$ Billion), 2007–2011Table 22: Panamanian Individual Life Insurance – Written Premium (US$ Billion), 2011–2016Table 23: Panamanian General Annuity Insurance – Written Premium (US$ Billion), 2007–2011Table 24: Panamanian General Annuity Insurance – Written Premium (US$ Billion), 2011–2016Table 25: Panamanian Group Life Insurance – Written Premium (US$ Billion), 2007–2011Table 26: Panamanian Group Life Insurance – Written Premium (US$ Billion), 2011–2016Table 27: Panamanian Non-Life Insurance – Written Premium by Category (US$ Billion),2007–2011Table 28: Panamanian Non-Life Insurance – Written Premium by Category (US$ Billion),2011–2016Table 29: Panamanian Non-Life Insurance – Paid Claims (US$ Billion), 2007–2011Table 30: Panamanian Non-Life Insurance – Paid Claims (US$ Billion), 2011–2016Table 31: Panamanian Non-Life Insurance – Incurred Loss (US$ Billion), 2007–2011Table 32: Panamanian Non-Life Insurance – Incurred Loss (US$ Billion), 2011–2016Table 33: Panamanian Non-Life Insurance – Loss Ratio (%), 2007–2011Table 34: Panamanian Non-Life Insurance – Loss Ratio (%), 2011–2016Table 35: Panamanian Non-Life Insurance – Combined Ratio (%), 2007–2011Table 36: Panamanian Non-Life Insurance – Combined Ratio (%), 2011–2016Table 37: Panamanian Non-Life Insurance – Total Assets (US$ Billion), 2007–2011Table 38: Panamanian Non-Life Insurance – Total Assets (US$ Billion), 2011–2016Table 39: Panamanian Non-Life Insurance – Total Investment Income (US$ Billion), 2007–2011Table 40: Panamanian Non-Life Insurance – Total Investment Income (US$ Billion), 2011–2016Table 41: Panamanian Non-Life Insurance – Retentions (US$ Billion), 2007–2011Table 42: Panamanian Non-Life Insurance – Retentions (US$ Billion), 2011–2016Table 43: Panamanian Property Insurance – Written Premium (US$ Billion), 2007–2011Table 44: Panamanian Property Insurance – Written Premium (US$ Billion), 2011–2016
  • 5. Table 45: Panamanian Motor Insurance – Written Premium (US$ Billion), 2007–2011Table 46: Panamanian Motor Insurance – Written Premium (US$ Billion), 2011–2016Table 47: Panamanian Liability Insurance – Written Premium (US$ Billion), 2007–2011Table 48: Panamanian Liability Insurance – Written Premium (US$ Billion), 2011–2016Table 49: Panamanian Marine, Aviation and Transit Insurance – Written Premium (US$ Billion),2007–2011Table 50: Panamanian Marine, Aviation and Transit Insurance – Written Premium (US$ Billion),2011–2016Table 51: Panamanian Personal Accident and Health Insurance – Written Premium by Category(US$ Billion), 2007–2011Table 52: Panamanian Personal Accident and Health Insurance – Written Premium by Category(US$ Billion), 2011–2016Table 53: Panamanian Personal Accident and Health Insurance – Paid Claims (US$ Billion),2007–2011Table 54: Panamanian Personal Accident and Health Insurance – Paid Claims (US$ Billion),2011–2016Table 55: Panamanian Personal Accident and Health Insurance – Incurred Loss (US$ Billion),2007–2011Table 56: Panamanian Personal Accident and Health Insurance – Incurred Loss (US$ Billion),2011–2016Table 57: Panamanian Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011Table 58: Panamanian Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016Table 59: Panamanian Personal Accident and Health Insurance – Combined Ratio (%),2007–2011Table 60: Panamanian Personal Accident and Health Insurance – Combined Ratio (%),2011–2016Table 61: Panamanian Personal Accident and Health Insurance – Total Assets (US$ Billion),2007–2011Table 62: Panamanian Personal Accident and Health Insurance – Total Assets (US$ Billion),2011–2016Table 63: Panamanian Personal Accident and Health Insurance – Total Investment Income (US$Million), 2007–2011Table 64: Panamanian Personal Accident and Health Insurance – Total Investment Income (US$Million), 2011–2016Table 65: Panamanian Personal Accident and Health Insurance – Retentions (US$ Billion),2007–2011Table 66: Panamanian Personal Accident and Health Insurance – Retentions (US$ Billion),2011–2016Table 67: Panamanian Personal Accident Insurance – Written Premium (US$ Billion), 2007–2011Table 68: Panamanian Personal Accident Insurance – Written Premium (US$ Billion), 2011–2016Table 69: Panamanian Health Insurance – Written Premium (US$ Billion), 2007–2011Table 70: Panamanian Health Insurance – Written Premium (US$ Billion), 2011–2016
  • 6. Table 71: Panamanian Reinsurance Ceded by Insurance Segment (US$ Billion), 2007–2011Table 72: Panamanian Reinsurance Ceded by Insurance Segment (US$ Billion), 2011–2016Table 73: Panamanian Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Table 74: Panamanian Life Insurance – Percentage of Reinsurance Ceded (%),2011–2016Table 75: Panamanian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Table 76: Panamanian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Table 77: Panamanian Personal Accident and Health Insurance – Percentage of ReinsuranceCeded (%), 2007–2011Table 78: Panamanian Personal Accident and Health Insurance – Percentage of ReinsuranceCeded (%), 2011–2016Table 79: Panamanian Insurance Industry Shares, 2011Table 80: Mapfre Panama, Main ProductsTable 81: Mapfre Panama, Key EmployeesTable 82: Assa, Compañía de Seguros, SA, Main ProductsTable 83: Assa, Compañía de Seguros, SA, Key EmployeesTable 84: Pan-American Life Insurance of Panama, SA, Main ProductsTable 85: National Union Fire Inc. Co. of Pitts, PA, Main ProductsList of FiguresFigure 1: Panamanian Insurance – Overall Written Premium by Segment (US$ Billion), 2007–2016Figure 2: Panamanian Insurance – Dynamics by Segment, 2007–2016Figure 3: Panamanian GDP and Gross Written Premium – Growth Comparison (%), 2006–2012Figure 4: Panamanian Life Insurance – Written Premium by Category (US$ Billion), 2007–2016Figure 5: Panamanian Life Insurance – Written Premium by Category (% Share), 2011 and 2016Figure 6: Panamanian Life Insurance – Dynamics by Category, 2007–2016Figure 7: Panamanian Life Insurance – Paid Claims (US$ Billion), 2007–2011Figure 8: Panamanian Life Insurance – Paid Claims (US$ Billion), 2011–2016Figure 9: Panamanian Life Insurance – Incurred Loss (US$ Billion), 2007–2011Figure 10: Panamanian Life Insurance – Incurred Loss (US$ Billion), 2011–2016Figure 11: Panamanian Life Insurance – Loss Ratio (%), 2007–2011Figure 12: Panamanian Life Insurance – Loss Ratio (%), 2011–2016Figure 13: Panamanian Life Insurance – Combined Ratio (%), 2007–2011Figure 14: Panamanian Life Insurance – Combined Ratio (%), 2011–2016Figure 15: Panamanian Life Insurance – Total Assets (US$ Billion), 2007–2011Figure 16: Panamanian Life Insurance – Total Assets (US$ Billion), 2011–2016Figure 17: Panamanian Life Insurance – Total Investment Income (US$ Billion), 2007–2011Figure 18: Panamanian Life Insurance – Total Investment Income (US$ Billion), 2011–2016Figure 19: Panamanian Life Insurance – Retentions (US$ Billion), 2007–2011Figure 20: Panamanian Life Insurance – Retentions (US$ Billion), 2011–2016Figure 21: Panamanian Life Insurance – Investment (US$ Billion), 2007–2011Figure 22: Panamanian Life Insurance Penetration (% of GDP), 2007–2011Figure 23: Panamanian Life Insurance – Premium Per Capita (US$), 2007–2011
  • 7. Figure 24: Panamanian Individual Life Insurance – Written Premium (US$ Billion), 2007–2011Figure 25: Panamanian Individual Life Insurance – Written Premium (US$ Billion), 2011–2016Figure 26: Panamanian General Annuity Insurance – Written Premium (US$ Billion), 2007–2011Figure 27: Panamanian General Annuity Insurance – Written Premium (US$ Billion), 2011–2016Figure 28: Panamanian Group Life Insurance – Written Premium (US$ Billion), 2007–2011Figure 29: Panamanian Group Life Insurance – Written Premium (US$ Billion), 2011–2016Figure 30: Panamanian Non-Life Insurance – Written Premium by Category (US$ Billion),2007–2016Figure 31: Panamanian Non-Life Insurance – Written Premium by Category (% Share), 2011 and2016Figure 32: Panamanian Non-Life Insurance – Dynamics by Category, 2007–2016Figure 33: Panamanian Non-Life Insurance – Paid Claims (US$ Billion), 2007–2011Figure 34: Panamanian Non-Life Insurance – Paid Claims (US$ Billion), 2011–2016Figure 35: Panamanian Non-Life Insurance – Incurred Loss (US$ Billion), 2007–2011Figure 36: Panamanian Non-Life Insurance – Incurred Loss (US$ Billion), 2007–2016Figure 37: Panamanian Non-Life Insurance – Loss Ratio (%), 2007–2011Figure 38: Panamanian Non-Life Insurance – Loss Ratio (%), 2011–2016Figure 39: Panamanian Non-Life Insurance – Combined Ratio (%), 2007–2011Figure 40: Panamanian Non-Life Insurance – Combined Ratio (%), 2011–2016Figure 41: Panamanian Non-Life Insurance – Total Assets (US$ Billion), 2007–2011Figure 42: Panamanian Non-Life Insurance – Total Assets (US$ Billion), 2011–2016Figure 43: Panamanian Non-Life Insurance – Total Investment Income (US$ Billion), 2007–2011Figure 44: Panamanian Non-Life Insurance – Total Investment Income (US$ Billion), 2011–2016Figure 45: Panamanian Non-Life Insurance – Retentions (US$ Billion), 2007–2011Figure 46: Panamanian Non-Life Insurance – Retentions (US$ Billion), 2011–2016Figure 47: Panamanian Non-Life Insurance – Investment (US$ Billion), 2007–2011Figure 48: Panamanian Non-Life Insurance Penetration (% of GDP), 2007–2011Figure 49: Panamanian Non-Life Insurance – Premium Per Capita (US$), 2007–2011Figure 50: Panamanian Property Insurance – Written Premium (US$ Billion), 2007–2011Figure 51: Panamanian Property Insurance – Written Premium (US$ Billion), 2011–2016Figure 52: Panamanian Motor Insurance – Written Premium (US$ Billion), 2007–2011Figure 53: Panamanian Motor Insurance – Written Premium (US$ Billion), 2011–2016Figure 54: Panamanian Liability Insurance – Written Premium (US$ Billion), 2007–2011Figure 55: Panamanian Liability Insurance – Written Premium (US$ Billion), 2011–2016Figure 56: Panamanian Marine, Aviation and Transit Insurance – Written Premium (US$ Billion),2007–2011Figure 57: Panamanian Marine, Aviation and Transit Insurance – Written Premium (US$ Billion),2011–2016Figure 58: Panamanian Personal Accident and Health Insurance – Written Premium by Category(US$ Billion), 2007–2016Figure 59: Panamanian Personal Accident and Health Insurance – Written Premium by Category(% Share), 2011 and 2016
  • 8. Figure 60: Panamanian Personal Accident and Health Insurance – Dynamics by Category,2007–2016Figure 61: Panamanian Personal Accident and Health Insurance – Paid Claims (US$ Billion),2007–2011Figure 62: Panamanian Personal Accident and Health Insurance – Paid Claims (US$ Billion),2011–2016Figure 63: Panamanian Personal Accident and Health Insurance – Incurred Loss (US$ Billion),2007–2011Figure 64: Panamanian Personal Accident and Health Insurance – Incurred Loss (US$ Billion),2007–2016Figure 65: Panamanian Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011Figure 66: Panamanian Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016Figure 67: Panamanian Personal Accident and Health Insurance – Combined Ratio (%),2007–2011Figure 68: Panamanian Personal Accident and Health Insurance – Combined Ratio (%),2011–2016Figure 69: Panamanian Personal Accident and Health Insurance – Total Assets (US$ Billion),2007–2011Figure 70: Panamanian Personal Accident and Health Insurance – Total Assets (US$ Billion),2011–2016Figure 71: Panamanian Personal Accident and Health Insurance – Total Investment Income (US$Million), 2007–2011Figure 72: Panamanian Personal Accident and Health Insurance – Total Investment Income (US$Million), 2011–2016Figure 73: Panamanian Personal Accident and Health Insurance – Retentions (US$ Billion),2007–2011Figure 74: Panamanian Personal Accident and Health Insurance – Retentions (US$ Billion),2011–2016Figure 75: Panamanian Personal Accident and Health Insurance – Investment (US$ Billion),2007–2011Figure 76: Panamanian Personal Accident and Health Insurance – Penetration (% of GDP),2007–2011Figure 77: Panamanian Personal Accident and Health Insurance – Premium Per Capita (US$),2007–2011Figure 78: Panamanian Personal Accident Insurance – Written Premium (US$ Billion), 2007–2011Figure 79: Panamanian Personal Accident Insurance – Written Premium (US$ Billion), 2011–2016Figure 80: Panamanian Health Insurance – Written Premium (US$ Billion), 2007–2011Figure 81: Panamanian Health Insurance – Written Premium (US$ Billion), 2011–2016Figure 82: Panamanian Reinsurance Ceded by Insurance Segment (US$ Billion), 2007–2016Figure 83: Panamanian Reinsurance – Dynamics by Insurance Segment, 2007–2016Figure 84: Panamanian Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Figure 85: Panamanian Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
  • 9. Figure 86: Panamanian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Figure 87: Panamanian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Figure 88: Panamanian Personal Accident and Health Insurance – Percentage of ReinsuranceCeded (%), 2007–2011Figure 89: Panamanian Personal Accident and Health Insurance – Percentage of ReinsuranceCeded (%), 2011–2016Figure 90: Panamanian Insurance Industry – Shares 2011Figure 91: Panamanian GDP at Constant Prices (US$ Billion), 2007–2011Figure 92: Panamanian GDP Per Capita at Constant Prices (US$), 2007–2011Figure 93: Panamanian GDP at Current Prices (US$ Billion), 2007–2011Figure 94: Panamanian Construction Net Output at Current Prices (US$ Billion), 2007–2011Figure 95: Panamanian Construction Output at Current Prices as a Percentage of GDP (%),2007–2011Figure 96: Panamanian Arable Land (Thousand hectares), 2007–2011Figure 97: Panamanian Exports as a Percentage of GDP (%), 2007–2011Figure 98: Panamanian Number of Air Passengers (Million), 2007–2011Figure 99: Panamanian Healthcare Expenditure Per Capita (US$), 2007–2011Figure 100: Panamanian Employed Population (%), 2007–2011Figure 101: Panamanian Annual Disposable Income (US$ Billion), 2007–2011Figure 102: Panama Annual Disposable Income Per Capita (US$), 2007–2011Figure 103: Panama Total Population (Million), 2007–2011Contact: sales@reportsandreports.com for more information.