On 15 June 2011, the Cabinet Council passed a Bill on insurance activities. The Bill is aimed at providing the Insurance Superintendence with autonomy, improving the administrative structure and developing the regulation and supervision of insurance activities. In addition, the new Act intends to establish a compulsory register for reinsurance entities, to develop consumers' basic rights and to include the Panamanian insurer's obligation to maintain 100% of their investment capital in Panamá.
Panamanian Government Communication
15 June 2011