Generali Signs $172m Agreement to Sell Panama Business | Weekly News Roundup, August 15th, 2017

Print Friendly

Welcome to the Panama Weekly News Roundup! Here’s the latest.

Generali signs $172m agreement to sell Panama business.

The company will sell its Panama City branch, including its insurance portfolio, to ASSA Compañía de Seguros for around $172m (£131m, €145m).

Based in Panama City, ASSA was founded in 1982 and offers life and general insurance products in Costa Rica, Nicaragua, El Salvadore and Guatemala.
Through ASSA, Generali confirmed it will, however, remain active in Panama with its international business lines, namely Generali Employee Benefits, Generali Global Corporate & Commercial and Europ Assistance.

Source: International Advisor

Americans sentenced in Panama for 5 murders

U.S. citizen William Dathan Holbert was sentenced to 47 years in prison by a court in Panama for robbing and killing five other Americans in a Caribbean tourist destination, authorities said Monday.

Holbert killed a U.S. citizen named Mike Brown, his wife and young son in 2007. Authorities have said Brown may have been living under an alias and they don’t know where he was from. In 2010, Holbert killed Cheryl Lynn Hughes, a native of St. Louis, Missouri, who ran a small hotel in Panama, and Bo Icelar, former owner of a gallery in Santa Fe, New Mexico.

Holbert had left North Carolina after he went through a divorce to a previous wife, sold his landscaping business and filed for bankruptcy. He met Reese in North Carolina.

Source: ABC News

On the Panama Canal’s 103rd Anniversary, We’re Just Getting Started.

Today marks the 103rd anniversary of the Panama Canal. However, even with the recent activity and excitement over the first year of operation of the Expanded Canal, it serves as a humbling reminder of the history of this great waterway, the changes it’s seen over the years, and the honor and responsibility that we, as Panamanians, have undertaken.

The 2016 inauguration of the Expanded Canal was certainly a proud moment for all Panamanians. Since then, the new lane has not only performed well, it’s surpassed nearly all our original expectations, demonstrating the industry’s high demand for, and value of, the service it provides. In little over a year, the Expanded Panama Canal helped to continually set tonnage records, redraw global trade routes and positively impact others around the world. More than 1,800 Neopanamax vessels have transited the Neopanamax Locks. And for fiscal year 2018, which begins on October 1, we anticipate a record year with tonnage reaching 429.4 million Panama Canal tons, and more than 13,000 transits, which include 2,335 Neopanamax vessels.

Source: Huff Post


5 Things You Need to Eat on Your Next Trip to Panama!

If you’re planning on taking a trip to Panama, whether scouting for a move or just a vacation, you’re going to want to get a good taste of the country’s food. Trying new, local, and traditional foods when you travel is part of the fun! It’s also part of the fun of relocating to Panama or retiring here. New experiences call for lots of trial and error, and with so many great things to eat in Panama, you’re sure to find the perfect food for you. To help you get started, however, we’ve got a few recommendations.

1. Fried Chicken With Yucca.
Of course, fried chicken is not uniquely Panamanian, nor is it likely to be something you’ve never tried before. It is, however, one of the most delicious staple food treats in Panama, where it’s done in Panamanian style and served with yucca. You can get fantastic fried chicken from street carts, local fondas (cafeterias), and in most fast food or quick service restaurants. It’s served with fries or (more traditionally) fried yucca sticks, and is a fried treat that can’t be missed, even if you’re here for a short time.

Source: POLS Blog


About Manoj Chatlani

Manoj Chatlani is a Senior Partner at POLS Attorneys, a full-service law firm in Panama City, Panama. Specializing in offshore services, including asset protection, estate planning, offshore banking, and offshore corporations, as well as Panama immigration and real estate transactions, POLS Attorneys offers clients a streamlined solution to all their Panama legal needs. Manoj is a Panamanian lawyer and holds a law degree from USMA and earned a Masters in Communication Law and Panama Tax law.

Like what you've read? Subscribe to our Newsletter.

* denotes a required field
First Name: *
Last Name: *
Email: *