Panama’s insurance industry reported over $2.1 billion in written premiums for the 2025 fiscal year. Official data released this week shows significant growth across all major metrics, signaling robust market health and expanded coverage nationwide.
The Superintendency of Insurance and Reinsurance of Panama confirmed the figures. They represent a 12.8 percent annual increase from the $1.867 billion recorded in 2024. A total of 22 active insurers in the national market supported this expansion.
Superintendent Luis Enrique Bandera presented the annual report, emphasizing the sector’s critical role. He connected its strong performance directly to broader economic stability and support for productive activity throughout the country.
“The figures achieved in 2025 reflect a solid and responsible insurance industry,” Bandera stated. [Translated from Spanish] “Its growth contributes to economic stability, backs productive activity, and strengthens confidence in the national financial system.”
The sector’s growth was not limited to premium volume. The total number of active policies in force reached 2.41 million by December 31, 2025. This marks a 7.5 percent increase in policy count and a 7.1 percent rise in written premiums compared to the close of the previous year.
Market Dynamics and Financial Backstop
Paid claims also grew by 5.5 percent year-over-year. This uptick further evidences heightened market activity. Bandera specifically highlighted that the loss ratio settled at 50 percent for the year.
This metric means half of the premiums written were paid back out in claims. Officials view this balance as a key indicator of the industry’s function as a reliable Insurance mechanism. It provides a necessary financial backstop for both households and businesses facing unexpected events.
“This allows us to confirm the role of insurance as a financial support mechanism for homes and companies,” Superintendent Bandera added. [Translated from Spanish]
The regulator’s role in this stable environment remains central. Bandera noted that 2026 marks the 70th anniversary of the Superintendency’s operations. His office plans to focus on strengthening market supervision and promoting best practices among insurers. The goal is maintaining the sector’s current stability and responsible growth trajectory.
Optimism for the current year is high. Bandera pointed to digital distribution channels as a primary driver for future expansion. These platforms are already helping to massify insurance access, reaching population segments previously underserved. This digital push is expected to fuel further growth throughout 2026.
The sustained performance of Panama’s insurance sector contributes significantly to the nation’s overall Financial system resilience. As Superintendent Luis Enrique Bandera concludes, the industry’s strength directly supports Panama’s ongoing economic development and protects its citizens and enterprises.