As of December 2023 the insurance market in Panama reaches a net written premium volume of USD 1865 million (a drop of 2.4% compared to 2022), mainly due to the impact of an unfavorable evolution of the individual life businesses, multi-risk coverage and technical lines. However, according to an optimistic scenario of projections for 2026, the local business could reach almost USD 2600 million if a favorable macroeconomic context occurs.
In terms of growth in market share in written premiums, ASSA has led with an increase of 1.48 market share points. Completing the ranking of the five leading insurers in this indicator are SEGUROS FEDPA, SURA, MERCANTIL SEGUROS and INTERNACIONAL DE SEGUROS.
