Panama's ASSA Compañía de Seguros, the country's second-largest insurer, offers a wide range of life and non-life products, including P&C, life and health insurance and surety coverage. Its P&C insurance products include commercial and industrial fire, all-risk, electronic equipment, machinery breakdown, marine hull, cargo and diverse risk coverage. The firm began operations as ASSA Compañía de Seguros in January 1982 to consolidate the group's insurance operations under its name. The insurer is currently controlled by Panama-based financial services group ASSA through its subsidiary ASSA Compañía Tenedora. It also has subsidiaries in El Salvador and a minority stake in JMalucelli Travelers Seguros, a Colombian firm controlled by Brazilian insurance group JMalucelli.