Costa Rica’s Insurance Market

In the newly privatised insurance market, companies are competing with the National Insurance Institute (INS in Spanish) to increase their portfolios.

Monday, October 31, 2011

Last June, according to the premium income figures, registered insurance lines and assets, INS was first, followed by Assa and Alico with its life and health insurance lines.

"Where Assa stands out is in general insurance, where in the first half of this year it accumulated almost $6.7 million in premiums paid, this amount was generated by 42 different products, especially those covering property damage", wrote Sergio Morales on

In the case of the Spanish company Mapfre, their policies covering cars and property damage earned them $4.3 million by June.

Despite the growth achieved by new insurance companies, the main player in the market remains the INS with a total of $275 million.

In relation to its financial size, the advantage of INS is still strong. In terms of assets, the amounts are hardly comparable. The state registers $2,136 million, followed by Mapfre with $ 13.2 million.

¿Busca soluciones de inteligencia comercial para su empresa?

More on this topic

Costa Rica: Insurance Market up to March 2015

May 2015

The reduction of 30% in premium income from compulsory work risk insurance accounted for most of the 8% decline in revenues from total premiums up to March.

In March general insurance and personal insurance maintained the upward trend that had been seen the previous months, with growth rates compared to the same month in 2014 of 6.1% and 8.3%, respectively.

Insurance Market in Costa Rica up to March 2014

May 2014

The state run Nacional de Seguros and PanAmerican Life share 88% of the market in the segment of accident and health policies.

The segment for Accident and Health policies showed that up to March 2014 the majority market share was held by Instituto Nacional de Seguros (INS) with 46.4% and 41.7% was held by Pan American Life, according to the Superintendent of Insurance (SUGESE).

Insurance in Costa Rica: 5 Years of Free Market

August 2013

After five years of monopolization, there are 13 insurers, 17 brokers companies, 63 agency companies and 49 auto insurance operators competing in the Costa Rican insurance market. reports: "Also noteworthy is the 442 products registered up to June this year, surpassing the 159 registered in the same month in 2010."

Adisa Insurer To Operate in Costa Rica

May 2010

The new insurance company was born as a result of the merger of “QBE del Istmo” Reinsurance Company and “Cooperativa Nacional de Educadores” (Coopenae).

“Aseguradora del Istmo Adisa SA” was authorized by the Costa Rican Insurance Superintendence to sell individual health and life insurance in the country.