April 30, 2017 10:33 AM ET

Insurance

Company Overview of Istmo Compañía de Reaseguros, Inc

Company Overview

Istmo Compañía de Reaseguros, Inc. provides reinsurance products in the Republic of Panama, Mexico, Peru, Colombia, and Ireland. It also offers insurance services in the Republic of Panama and Costa Rica. The company was formerly known as QBE Del Istmo Compañía de Reaseguros, Inc. and changed its name to Istmo Compañía de Reaseguros, Inc. in December 2013. Istmo Compañía de Reaseguros, Inc. was founded in 1979 and is based in Panama, the Republic of Panama.

Costa del Este

Av. Paseo Roberto Motta

Calle Vista del Pacífico

No PH-51, Apartado Postal 0816-03239

Panama,  

Panama

Founded in 1979

Phone:

507 306 2200

Fax:

507 306 2270

Key Executives for Istmo Compañía de Reaseguros, Inc

Chairman of the Board of Directors, Chief Executive Officer and Executive President
Chief Financial Officer, Executive Vice-President, Treasurer and Director
Vice-Chairman of the Board of Directors, Chief Underwriting Officer and Executive Vice President
Secretary and Director
Vice-President of Development & Corporate Planning and Director
Compensation as of Fiscal Year 2016.

Istmo Compañía de Reaseguros, Inc Key Developments

Istmo Re Plans To Sell Stake In Adisa

Istmo Compañía de Reaseguros, Inc. plans to sell its 76% stake in Aseguradora del Istmo, S.A. The sell-off is expected to be completed in a two-month period at the latest, prompted by the intervention of Panama's insurance and reinsurance sector watchdog (SSRP) into operations of Istmo Re, which was found to lack the necessary assets to continue offering its services on the market.

Istmo Re Plans To Delist From Local Stock Market

Istmo Compania de Reaseguros (Istmo Re) has announced plans to stop listing on Panama's stock market as well as suspending its license as stock issuer granted by the country's stock market authority, Superintendencia del Mercado de Valores (SMV). This decision was taken in a shareholders meeting held on 16 November 2016, due to the concern raised by minor shareholders. The announcement comes at a time when the company is facing different challenges, including the lawsuit filed by Mexican firm Aseguradora Interacciones against Istmo Re claiming the payment of USD 6 million (EUR 5.34 million) corresponding to insurance policies and the recent rating downgrade announced by S&P Global Ratings. The insurer reported losses of USD 5.50 million in 2015.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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