Panama’s insurance regulator, the Superintendencia de Seguros y Reaseguros, reports that, in the first quarter of 2009, total premiums in Panama totaled US$66.5 million, 14.6% higher than recorded in the first quarter of 2008.

For the year 2008, SSR reports that total premiums increased 27.5% over 2007, totaling US$773.6 million. Losses also rose 32.1% year over year, however, totalling US$311.1 million.