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Timetric´s analyzing the Insurance Industry in Panama

Timetric´s analyzing the Insurance Industry in Panama. Timetric's 'The Insurance Industry in Panama, announced that is publishing a report providing detailed analysis of the market trends, drivers and challenges in the Panamanian insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Panamanian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Timetric's 'The Insurance Industry in Panama, Key Trends and Opportunities to 2019' report is providing in-depth market analysis, information and insights into the Panamanian insurance industry, including:

•  historical values for the Panamanian insurance industry for the report's 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

• It offers a detailed analysis of the key segments in the Panamanian insurance industry, with market forecasts to 2019.

• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

• It analyzes the various distribution channels in Panama.

• It profiles the top insurance companies in Panama and outlines the key regulations affecting them.

• In 2015, SSRP announced that the National Bank of Panama (BNP) and Savings Bank will engage in the marketing, retail and distribution of microinsurance products in Panama.

• In 2015, Pan American Life Insurance de Panamá SA led the life insurance segment with 18.5% of its gross written premium. Compañía Internacional de Seguros SA was the leading non-life insurer in 2015, with 17.4% of the segment's gross written premium.

• The country's insurance industry also benefited from the growth of captive insurance and reinsurance as a result of a favorable tax structure.

• The Panamanian insurance industry is moderately consolidated, with 29 insurance companies operating in the industry as of April 2015.

Captive insurance thrives in Panama as a result of the country's tax benefits for foreign investors: no tax is charged on corporate dividends earned from foreign-sourced income.