Global Insurance Law Connect (GILC) has announced its expansion into Panama through the inclusion of LAC Legal to its international network. The addition of LAC Legal further extends the network’s presence across Latin America and enhances the network’s capabilities in one of the region’s most strategically important and evolving insurance markets.
Founded in 1996 as Lacayo & Asociados, the LAC Group, of which LAC Legal is the legal services division, brings nearly three decades of multidisciplinary expertise across law, accounting, and corporate advisory work. Today, LAC Legal stands as a leading Panamanian firm, delivering strategic, agile, and client‑focused legal solutions across corporate, commercial, civil, regulatory, and insurance matters.
With a team of 14 lawyers, LAC Legal provides full‑service legal support, including financial crime, corporate structuring, regulatory compliance, and dispute resolution. The firm acts for a broad base of local and international insurance clients navigating Panama’s business and regulatory landscape.
Over the past eight years, LAC Legal has significantly expanded its insurance practice, across Panama and the wider Latin American region. The firm’s insurance team has played a key role in guiding clients through a period of substantial market transformation.
Panama’s legal and regulatory landscape is undergoing a profound transformation. In 2025, the Superintendency of Insurance and Reinsurance introduced enhanced corporate governance and risk-based supervision standards, reinforcing transparency, beneficial ownership disclosure and board accountability within the insurance sector. In parallel, a new Code of Civil Procedure – the most significant procedural reform in nearly four decades – introduced oral proceedings, early statute of limitations defences and electronic service of process. Together, these reforms materially impact claims management, litigation strategy and regulatory compliance for insurers operating in Panama.
Gillian Davidson, Chair of Global Insurance Law Connect, stated: “We are pleased to announce the addition of LAC Legal to our growing network. Their deep understanding of the Panamanian and wider Latin American insurance markets, combined with their multidisciplinary strength, makes them a valuable addition to GILC. As regulatory and cross‑border complexities continue to increase, LAC Legal’s insights and experience will significantly enhance the support we provide to insurers and reinsurers globally.”
Diego Lacayo, Managing Partner at LAC Legal, said: “Joining GILC represents a strategic milestone for our firm and reflects the continued internationalisation of Panama’s insurance market. As regulatory standards become increasingly aligned with global best practices and procedural reform reshapes civil litigation, insurers require legal advisors who combine local precision with cross-border understanding. Through GILC, we strengthen our ability to support insurers and reinsurers operating in increasingly complex and interconnected markets.”
GILC’s recent new member announcements highlight the network’s commitment to expanding specialist insurance law capabilities worldwide, with growth across Europe, the Americas, and Asia-Pacific. The addition of LAC Legal brings valuable regional insight into Latin America and reinforces GILC’s mission of connecting insurers and reinsurers with leading local expertise in key jurisdictions around the world.
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