Costa Rica: Insurance Market in April 2016

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

Monday, July 11, 2016

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.

SOA growth was mainly concentrated in January, due to a change in accounting methodology, specifically, premiums which previously were registered in December of each year were recorded in January for the SOA period 2016. "

See statistical bulletin for April 2016.

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Insurance Market Up 15% in 2017

February 2018

Explained in part by the increase registered in mandatory insurance, last year income from premiums in Costa Rica added up to $1.323 billion, 15% more than in 2016.

Costa Rican authorities reported that last year the largest increase was recorded in mandatory types of insurance, with interannual increases of 26% (¢28.4 billion) in Occupational Hazards and 18% (¢7.5 billion) in the Obligatory Automotive. As a result, this category gained a 1.9 pp share with respect to voluntary insurance categories.

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.  

Insurance Trends in Nicaragua

September 2014

Auto policies are the fastest growing category, with an increase of 14% so far this year compared to 2013.

Lack of a culture of prevention is preventing the emerging Nicaraguan insurance market from achieving high growth rates in most policies. Car policies are the most sought after, but those for life, property and health are growing slowly.

Insurance Market in Costa Rica in 2012

February 2013

A report by SUGESE contains information on Basic Indicators, Market Structure and Participants and Products.

December 2012 Bulletin from the Superintendent of Insurance (SUGESE):

Basic Indicators

The total amount of direct premiums was ¢466.2 billion in 2012, with 69% of that amount corresponding to voluntary insurance.