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Panama

Panama

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Panama Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Panama includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Available Products

Information for Panama can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Global Statistics Regulatory Alerts Market Profiles Insight Compliance Compliance Point Clinical Trials

Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT -5
Panama City
PAB
4.29 mn (2020)
74,060.60 mn
0.89%
1,511.04
2.85

The Republic of Panama is situated at the eastern end of the isthmus which connects North and South America. Only about a quarter of the land is inhabited, as much of the land is mountainous, or part of the Amazon rainforest. Agriculture and fishing are important industries, as well as revenue associated with the Canal. In 2018 non-life premiums amounted to the highest figure since 2013. Furthermore, at this time non-life businesses represented around half of the total market. In July 2019 there were 23 insurance companies licensed to operate.

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