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Insurance in Central America still limping from impact of recession, says Fitch

Thursday, February 3, 2011

The slow recovery of most economies in  Central America after the turmoil in 2008 and 2009 is still affecting the insurance industry, according to a Fitch Ratings review.

At the end of September 2010, El Salvador, Costa Rica and Nicaragua showed a decline in performance due to a deterioration of operational efficiency, while maintaining relative stability in the claims ratio.

Other countries saw improvements in the latter index, including Guatemala, which nevertheless still has the highest level and a combined ratio of about 100 percent, as in Nicaragua.

Original source: Reuters (press release)