Costa Rica: Figures for Insurance Market in June 2016

Income from voluntary insurance premiums grew by 18% in relation to June 2015, reaching $490 million.

Thursday, July 28, 2016

From a monthly report by the Superintendent of Insurance:

The evolution of compulsory insurance in respect to previous months is: 32% growth that corresponds to an increase of ¢38.6 billion colones in SOA, concentrated in January of this period as a result of a change in the accounting methodology, specifically, for the SOA period, premiums that were previously registered in December of each year were recorded in January 2016 of this year. RT premiums decreased by ¢15.6 billion colones.

Personal insurance maintained the growth observed throughout the semester, in the fact that all companies in the category showed very dynamic behavior. Meanwhile, the general insurance showed moderate growth and has ceded its share.

Read full report (in spanish).

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Costa Rica: Insurance Market in September 2016

November 2016

Income from insurance premiums grew by 15% compared to the same month in 2015, reaching $924 million.

From the Monthly Bulletin by the Superintendent of Insurance:

Income from insurance premiums grew by 15% compared to September 2015, reaching ¢497 billion colones. Growth remains widespread by category and personal insurance is still the most dynamic category. The contribution of compulsory insurance, as explained in previous bulletins, responds to the increase in SOA in January 2016 due to accounting changes because RT premiums decreased by 20% year on year.  

Costa Rica: Insurance Market in April 2016

July 2016

Income from voluntary insurance premiums grew by 25% compared to April 2015, due in most part to the increase in personal insurance.

From the quarterly report by the Superintendent of Insurance of Costa Rica:

"Revenues from voluntary insurance premiums increased by 25% in relation to April 2015, reaching ¢265 billion colones. The growth of this type of insurance remains one of the main driving forces, but its growth responds, on the one hand, to an increase of ¢ 38.6 billion colones in the SOA, since RT premiums decreased by ¢12.9 billion colones.

Qualitas Insurance Subsidiary Increases Stake in El Salvador

July 2011

Qualitas, the Mexican insurer, has increased to 100% its participation in the Salvadoran Qualitas Insurance Company.

The company made the announcement of the purchase via a press release without disclosing the amount of the transaction.

"This will benefit both sides, as it will start up a business relationship in the different countries where Quálitas operates," it said in the note.

Quálitas Insurance Company Enters Costa Rica

August 2010

The Mexican firm has received authorization to operate in the Costa Rican marketplace.

Quálitas' authorization to sell car insurance is conditional on complying with certain requirements in the next four months, Costa Rica's Insurance Regulator (Sugese) informed.

"This brings the number of authorized insurance companies to nine.

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