Sugese, Costa Rica’s insurance superintendence, granted “Mundial Costa Rica” an A0-3 license, which enables it to sell insurance products to cover losses in damages to items, animals, plants or capital.

“Alvaro Castro, company manager, commented that the license is a first step, and that they are currently training salespeople”, reported Elfinancierocr.com.

Source: elfinancierocr.com

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Statistics on Private Insurers in Costa Rica

June 2013

Pan American Life and Assa accumulate 6% of the market, reporting up to May 2013 accumulated income of $12 million.

According to the Superintendent of Insurance (SUG) these two companies have the largest reported income. "Other market participants with significant shareholdings are Mapfre Seguros with revenues of $7 million and Aseguradora del Istmo with $4.5 million," noted an article in Elfinancierocr.com.

Mapfre Confirms Association with Aseguradora Mundial

December 2009

The resulting society will merge Mapfre's operations in El Salvador and Mundial's branches in Costa Rica, Nicaragua, Honduras and Guatemala.

This transaction is estimated in $210 million for 65% of the resulting society's equity. Mapfre has the option to buy the remaining 35% in 2011.

Mapfre Could Buy 65% of Aseguradora Mundial

December 2009

If the transaction goes through, Mapfre would acquire a majority stake of Panamanian insurer "Aseguradora Mundial" for an estimated $210 million.

In Panama, Aseguradora Mundial has a 15.67% market share, or $93.6 million worth of outstanding insurance contracts.

"The information has not yet been confirmed by the Panamanian insurer.

Mundial Insurer to Operate in Costa Rica

May 2009

The company was the first to submit its application to enter the Costa Rican market, and it hopes to start operations this year.

During the annual shareholders' meeting, the CEO of Mundial Group, Rodrigo Díaz, stressed that the strategy for this year is to improve the quality of service and operations.