Panama company moving to become top regional insurer

A DEAL that will make   a Panama company the first insurer from Panama with a presence throughout Central America has been signed after a year of negotiation.

The insurance company ASSA announced Thursday the signing of an agreement to acquire 100 percent of the operations of American International Group (AIG) in Guatemala, Honduras, El Salvador and Panama.

The deal must be approved by regulators in each country. During the closing of the transaction, ASSA and AIG will continue to operate normally.

At present, ASSA has a presence in Panama, Nicaragua, El Salvador and Costa Rica. The deal will allow the company to enter the markets of Guatemala and Honduras.

“ASSA is advancing toward its goal of being the leading insurer in Central America,” said Executive Chairman Eduardo Fábrega.