On 13 August 2010, Guatemala passed the Insurance Activity Law (Ley de la Actividad Aseguradora) No. 25-2010, which allows foreign insurance and reassurance companies to operate in Guatemala through branch offices. This new legislation offers new opportunities to foreign insurance groups already present in the region (Panama, Costa Rica, El Salvador, Honduras, Nicaragua) such as MAPFRE from Spain, Generali from Italy and other companies mainly from the US, the UK and Switzerland.