Expectations for the Insurance Market in 2017

According to Fitch Ratings growth in the insurance sector in Central America in 2017 will be driven by the markets of Costa Rica and Nicaragua.

Tuesday, December 13, 2016

From the report "Outlook 2017: Insurance in Central America"  by Fitch Ratings:

Rating Outlook Stable: Fitch Ratings´outlook for insurance ratings in Central America is stable. The agency believes that there is a limited probability of rating adjustments in the next 12 to 18 months, which could lead to significant changes in the risk profile or the weighted support in some cases.   

Outlook for the Sector is Stable: Fitch considers the outlook for the Central American Insurance sector to be stable. This is based on expectations of growth in the largest sector in Costa Rica and Nicaragua, as well as strengthening underwriting policies in major lines of insurance and broad protection of reinsurance favored by conditions of low prices globally. However, significant deviations in trade or remittances could challenge economies and insurance industries in the region.

Read full report (in spanish).

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Insurance in Central America: Outlook for 2018

March 2018

Projections are that this year growth of the Central American insurance sector will be driven by activities in the markets of Costa Rica and Guatemala.

From the report "Prospects 2018: Insurance Sector in Central America" by Fitch Ratings:

Costa Rica: Outlook for the Insurance Market

April 2017

Fitch projects a growth close to 15% in premiums this year, in a context of economic stability and consolidation of strategies by insurers.

From a report by Fitch Ratings:

Strong growth in premiums: the Costa Rican insurance industry grew by 16% in terms of premiums written up to the close of 2016, the result of a reclassification in the financial figures of the state - owned company and the largest market participant, Instituto Nacional de Seguros (INS), which was influential in the growth of -9% in 2015. Excluding this reclassification, the sector's growth reached 9% at the end of 2016, which is still a favorable level, according to Fitch Ratings. Meanwhile, private equity insurers recorded premium growth of 35%, thanks to innovation in products and marketing channels.   

Prospects for Insurance Sector in Central America

January 2016

Fitch forecasts growth of 3.5% in the region in 2016, due to increased competition and currency devaluations in some markets.

From a statement issued by Fitch Ratings:

Fitch Ratings - San Salvador - (January 21, 2016): The Outlook for the Insurance Sector in Central America and the Dominican Republic is stable, according to a report by Fitch Ratings.

Insurance in Central America: 2015 Outlook

January 2015

Fitch Ratings expects moderate growth in premiums in Costa Rica, increased interest in personal insurance in Guatemala, and stable performance in Nicaragua and Honduras.

From the report "Outlook 2015: Central American Insurance Sector":

Costa Rica:

Moderate growth in premiums

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