Financial, accounting and legal services for the insurance and brokerage industry in Panama

Outsourcing the financial, legal and administrative management of your insurance business turns fixed operating costs into efficient strategic solutions. Working with sector specialists ensures that every transaction, premium or policy complies with current Panamanian law while you focus on growing your client portfolio.

Specialised financial services for insurance companies and brokers

Sound financial management is the engine that secures the solvency and liquidity of players in the insurance market. We provide strategic financial advice focused on maximising return on equity and meeting the minimum capital requirements set by law.

Solvency and technical reserves analysis

We analyse your company's financial structure to ensure that its technical reserves (unearned premium, outstanding claims and mathematical reserves) strictly meet Panamanian regulatory parameters, protecting the business against high-loss events.

Tax planning and investment strategy

We design tax optimisation strategies for the insurance sector, properly handling the treatment of premiums collected, reinsurance cessions and income tax (ISR) withholdings. We also provide financial consulting on structuring and diversifying institutional investment portfolios.

Legal services for the insurance industry in Panama

The legal environment of the insurance sector is constantly evolving. Lawyers with expertise in commercial, regulatory and insurance law are essential to prevent litigation and keep your business protected before the SSRP and the courts.

• Comprehensive advice on obtaining, updating and maintaining licences to operate as an insurer, reinsurer, brokerage firm or individual insurance broker with the Superintendency of Insurance and Reinsurance of Panama.
• Legal review of general and specific policy conditions (life, health, general lines, bonds), reinsurance contracts and commercial distribution agreements to avoid regulatory ambiguities.
• Implementation and audit of programmes to prevent money laundering, terrorist financing and the proliferation of weapons of mass destruction, as required by Law 23 of 2015 and its regulations for the insurance sector.
• Specialised legal representation in commercial disputes, claims litigation, arbitration and complaints before consumer protection and sector regulators.

Accounting services and tax compliance for the insurance sector

Insurance accounting requires a specialised methodology that differs substantially from standard commercial accounting. International Financial Reporting Standards (IFRS 17 and IFRS 9) must be applied correctly and in line with the charts of accounts required by Panamanian regulators.

• Specialised accounting records: control and recording of written, collected, earned and cancelled premiums, and the accounting treatment of brokerage and co-insurance commissions.
• Regulatory financial statements: preparation of balance sheets, income statements and quarterly or annual reports in the formats required by the SSRP, ready for external audit.
• Tax returns and obligations: corporate tax compliance with the Dirección General de Ingresos (DGI), including the income tax return, withholding reports, applicable ITBMS and the follow-up of taxes on insurance premiums.

Payroll and staff management for brokerages and insurers

Managing people in the financial and insurance sector demands precision, confidentiality and strict compliance with the Panamanian Labour Code and the rules of the Social Security Fund (CSS).

Payroll processing and severance

We handle the full fortnightly or monthly payroll for your administrative staff, risk analysts and sales agents, including the exact calculation of sales commissions, overtime, the 13th month, holidays and severance on termination.

Social Security Fund filings (SIPE)

We prepare, file and pay the Monthly Payroll Report through the CSS Income and Economic Benefits System (SIPE), securing the employer's certificate of good standing (Paz y Salvo) on time — essential to keep contracts with the State and operate without setbacks.

Why outsource your financial and legal services to experts?

Entrusting the accounting, legal advice and financial control of your insurance business to specialised consultants gives you key competitive advantages:

• Avoid heavy fines and licence suspensions for late or incomplete financial filings or compliance reports to the SSRP.
• Turn the fixed cost of specialised in-house staff into a flexible external investment scaled to the size of your portfolio.
• Let your management and sales teams focus 100% on winning new policyholders and negotiating the best terms with insurers or reinsurers.