Premiums to reach US$334mn this yr.

Premiums within El Salvador's insurance industry will grow 11.4% to US$334mn by the end of this year, compared to last year, operations manager at credit ratings agency Equilibrium Carlos Pastor told BNamericas. According to Pastor, local insurers have registered an annual premium growth rate of 10-12% over the last few years with a 15% annual increase posted in 2001 attributed to a rise in commissions that year. El Savador's insurance industry saw net premiums reach US$209mn at the end of the third quarter of this year, an increase of US$21.4mn compared to total net premiums of US$188mn at end 3Q02. The Salvadorian insurance market is dominated by local players with only two international companies - Seguros e Inversiones SA and Aseguradora Suiza Salvadorena (Asuisa) - currently operating in El Salvador.