Increase in Sales of Health Insurance in Costa Rica

Between January and September revenue from sales of these policies increased by 74% compared to the same period in 2013, with the sale of group insurance policies to companies being the factor driving the growth.

Wednesday, November 5, 2014

According to data from the Superintendent of Insurance, in January-September, the sector as a whole has accumulated $116 million in premiums for such policies. The Company Pan-American Life Insurance owns 47% of the market, the National Insurance Institute (INS) 43% and the remaining 10%, other companies.

Alfredo Ramirez, general manager of Pan-American, told Nacion.com that "... Our rise is due to sales to businesses, which take out insurance policies as a benefit for their employees." Also "... the growth of our portfolio is because we have taken advantage of the presence in Central America and Mexico to negotiate regional contracts."



More on this topic

Costa Rica Insurance: Claims Up 10%

August 2014

As of July claims for payments totaled $284 million, with personal insurance policies having increased the most.

In the case of personal accident insurance, registered insurance companies reported an increase of 13% between July 2013 and March this year. "...Within this category, those that grew the most were those of health and accident insurance, going from $26 million to $28 million. "

Costa Rica: Personal Insurance Premiums Up 21%

July 2014

The sale of life, accident and health insurance rose from $113 million in June 2013 to $148 million in the same month in 2014.

Figures from the Superintendence of Insurance (SUG) show the growing interest on the part of Costa Ricans in policies for medical expenses and life coverage.

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).

Pan-American Life Starts Operations in Costa Rica

July 2010

The insurer will launch a strong campaign to enter the market, looking to create demand for its services.

Eugenio Magdalena, executive vice president of International Markets at Pan-American, remarked that the company will provide individual insurance, focusing on life, health and accident policies.

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