Regulator takes over Panama insurer

Panama’s insurance regulator has ordered the administrative and operational takeover of Aseguradora del Istmo.

A resolution published Tuesday, Feb.21  (subject to appeal)  lists  a series of deficiencies in the operation of the insurer leading to  the takeover. The regulator warns that “sureties issued before February 1, 2016 are not adequately reinsured.

Source: Newsroom Panama