From the report by Fitch Central America is entitled "Performance of Insurance Industry Central America: Well Positioned for Growth ":

The insurance industry in Central America managed to increase premium production by 12% compared to 2010, where Panama, Guatemala and Honduras recorded an above-average growth. The countries with the highest contribution in the production of $3.44 billion dollars that the industry reached the end of 2011, are Panama and Costa Rica, a positive sign that the region is recovering from the economic crisis.

It should be noted that despite the revival of the Central American economies compared to previous years, the average penetration of the insurance industry remains very low (2.1%), well below the 4.3% that is registered in Chile, the highest penetration of Latin America , and the 3% Latin American average.

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Good Figures for Regional Insurance Market

March 2018

Explained by the behavior of the Costa Rican market, in 2017 Central American insurers received $5.02 billion in premiums, 7% more than in 2016.

According to a report drawn up by Revista Desempeño Asegurador, in 2017 " ... insurance sales in the region expressed an absolute increase of US $334.7 million, an amount that represented a rise of 7.1% compared to sales in 2016."

Latin America: The Golden Child for Insurers

May 2013

During the first half of 2012, the insurance sector in Latin America had a premium volume of $77,085 million, maintaining growth rates of two digits.

According to César Quevedo, deputy director of the Institute of Science at Seguro de Fundación Mapfre, the insurance industry is "key" to this global market.

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.

Opportunities in the Central American insurance market

March 2012

A low penetration level of insurance as related to GDP allows for sustainable growth of insurance businesses.

In the past five years, Panama has seen an explosion of commercial development and an influx of insurance companies. The country is about to remake its insurance legislation, which is also aimed at helping the country become a regional hub for insurance and reinsurance, according to Carlos Abrahams, a director at Global Intermediaries. Global is a specialized reinsurance consultancy and brokerage in Panama City, Panama.