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AM Best upgrades Panama’s insurance sector outlook

Posted On: Dec. 16, 2022 10:22 AM CST

U.S.-based ratings agency A.M. Best Co. Inc. has cited consistent technical results of Panama’s insurance industry and the country’s improving macroeconomic environment as the reasons for its upgrade of outlook for Panama’s insurance sector to “stable” from “negative,” Reinsurance News reported. While Panama’s insurance industry’s premiums grew almost 6% in 2021 and the country’s gross domestic product increased 15%, possible disruptions in global commercial trade and global economic slowdown could threaten that growth.