Aseguradora Ancon, S.A.

Aseguradora Ancon, S.A., a Panama-based for-profit insurance company, serves as a prime contractor providing health, life, and aviation insurance coverage to U.S. State Department operations in Panama, competing without set-aside designation in open procurements.

The company operates exclusively as a prime contractor (37 awards, 100% prime split) with no subcontract footprint. Aseguradora Ancon holds a single-award Indefinite Delivery Vehicle contract valued at $4.69 million with the Department of State's Bureau of Western Hemisphere Affairs, running from December 1, 2023, through November 30, 2028, with a base year plus four one-year option periods. Under this IDV, the company issues consistent monthly delivery orders providing health and life insurance coverage for approximately 210 local U.S. Embassy employees stationed in Panama, with individual monthly orders typically ranging from $77,520 to $95,810 and priced as fixed-price with economic price adjustment. The contract supports the State Department's diplomatic operations through fixed-price pricing with economic adjustment provisions to accommodate cost fluctuations over the five-year period.

Customer concentration is extreme and monolithic: the Department of State's Bureau of Western Hemisphere Affairs accounts for 32 of 37 awards (100% coverage) with $7.5 million of the $8.1 million combined potential value. The Department of State's Bureau of International Narcotics Law Enforcement represents the remaining five awards ($649 thousand combined potential value) for helicopter insurance supporting counter-narcotics operations. The two customer organizations represent the entirety of Aseguradora Ancon's federal footprint. The 31 task orders placed against the primary IDV (contract 19PM0724D0001) carry $2.8 million combined potential value. Representative work includes a $95,158 May 2026 delivery order for June 2026 health and life insurance under the IDV, a $223,321 purchase order from the Bureau of International Narcotics Law Enforcement awarded January 31, 2025, for helicopter insurance (accident and liability coverage for nine UH-1ST helicopters operated by the U.S. Embassy in Panama, performance through May 31, 2026), and a $136,000 purchase order from the same bureau awarded May 19, 2026, for helicopter insurance with completion by May 31, 2027. The company executed all work directly without subcontractor involvement.

Award velocity has grown from one award in 2022 to thirteen in 2024, with 11 awards in 2025 and eight in 2026 (as of May 28, 2026). Eight awards carrying $812 thousand combined potential value reach ultimate completion inside the next twenty-four months and therefore face recompete exposure. Combined dollars obligated across all awards total $3.4 million, representing 42% of the $8.1 million combined potential value. The vendor's federal contracting footprint is narrowly geographically and functionally constrained to Panama-based insurance services for diplomatic and counter-narcotics operations under two State Department bureaus, with no diversification across agencies or mission areas.