Asico Authorized to Operate in Costa Rica
The Superintendence of Insurance (SUG) announced the approval of the branch of the insurance company.
Wednesday, December 15, 2010
Atlantic Southern Insurance Company (ASIC) joins ten insurance companies which are already authorized by SUG.
Puerto Rican Atlantic Southern Insurance Company (ASI), started the procedures to operate in the country.
Three years after removal of the monopoly in Costa Rica, sales by private insurers are growing, although the state insurer, INS, still maintains more than 90% of market share.
In Costa Rica, 4 years after the opening up of the sector, the 10 private insurance companies have a 9.8% market share.
The insurance companies authorized to operate in the country have made combined guarantee deposits for $33 million.
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