Aseguradora Ancon, S.A.

Aseguradora Ancon, S.A., a Panama-based for-profit insurance company, delivers health and life insurance coverage and aviation insurance to the Department of State as a prime contractor, operating under full-and-open competitive procurements with no SBA set-aside designations.

Aseguradora Ancon holds a single-award Indefinite Delivery Contract valued at $5.39 million running through November 30, 2028, with the Department of State's Bureau of Western Hemisphere Affairs. The contract provides health and life insurance for approximately 210 local U.S. Embassy employees stationed in Panama, structured as a base year plus four one-year option periods using fixed-price pricing with economic price adjustment provisions. Monthly delivery orders under this IDV have ranged from $77,520 to $100,725, with 36 delivery orders issued since December 2023. Recent monthly orders from 2026 include a $100,725.40 order for September 30–October 31 coverage (awarded September 24, 2026), a $95,104.06 order for August 1–31 coverage (awarded August 6, 2026), and a $95,158.06 order for June 1–30 coverage (awarded May 28, 2026). A September 28, 2026 delivery order valued at $44,789.76 represents a payment increase for the December 1, 2025, through July 31, 2026 period.

Aseguradora Ancon also provides aviation insurance for counter-narcotics operations through the Department of State's Bureau of International Narcotics Law Enforcement. Awards include a $223,321.34 firm fixed-price purchase order for helicopter insurance (awarded January 31, 2025, with performance through May 31, 2026) covering accident and liability insurance for nine UH-1ST helicopters operated by the U.S. Embassy in Panama, a $136,000 purchase order for helicopter insurance (awarded May 19, 2026, completing May 31, 2027), and a $79,526.64 purchase order for helicopter insurance (awarded August 10, 2023). The January 2025 solicitation, issued as a Request for Quotations in September 2024, required the contractor to be authorized to provide insurance services in the Republic of Panama with Spanish-speaking support and familiarity with Panama's Ministry of Public Security.

Customer concentration is absolute: the Department of State's Bureau of Western Hemisphere Affairs accounts for 37 awards and $8.6 million combined potential value (92% of all awards and 92% of combined potential value), while the Bureau of International Narcotics Law Enforcement accounts for 5 awards and $649 thousand. Place of performance is Panama across all work. Aseguradora Ancon executes all work directly without subcontractor involvement and holds no other federal contracts outside the Department of State.

Activity has grown from 1 award in 2022 to 13 awards in 2026, driven by the recurring monthly delivery orders against the health and life insurance IDV. Twelve awards with combined potential value of $1.2 million have ultimate completion dates within the next twenty-four months, representing recompete exposure as the health and life insurance IDV approaches its final option period extension. The vendor's federal footprint spans 42 total awards with combined potential value of $9.3 million and combined dollars obligated of $3.8 million (41% of potential value). The primary NAICS categories are 524114 (Direct Health and Medical Insurance Carriers) and 524126 (Direct Property and Casualty Insurance Carriers); the primary PSC is Social–Non-Government Insurance Programs.