According to figures from the General Superintendence of Insurance (Sugese), between 2017 and 2018 the per capita spending of Costa Ricans on insurance increased slightly by 1.8%, from $248 to $252.

You may be interested in "Outlook for the Insurance Market"

Tomás Soley, head of Sugese, told Nacion.com that "... the increase was lower than the one reported since the opening - 9% annual average - because it occurred at a time of lower economic growth and in the middle of the discussion of fiscal reform."

The article adds that "... 75% of all policies sold are voluntary insurance products, i.e. those where the market is in competition. The remaining 25%, i.e. ¢141,078 million, corresponds to the obligatory policies of Labor Risks and Obligatory Automotive Insurance (SOA) marketed by the INS."

Also see "Tender for Panama Metro Insurance"

Regarding what is expected in the Central American insurance market for 2019, Fitch Ratings forecasts a rise of 6.1% at regional level, growth that would be based on the behavior of the markets of Panama, Costa Rica and Guatemala.

Source: Nacion.com

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Insurance Market: Figures in 2018

January 2019

Because of vehicle and health insurance performance, premiums paid in Panama last year totaled $1.562 million, 6% more than in 2017.

Preliminary figures from the Superintendence of Insurance and Reinsurance detail that last year income from vehicle insurance totaled $321 million and increased 9% with respect to 2017.

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Looking at figures up to until August 2011, collective life insurance plans accounted for 81.6% of the total.

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In July, written premiums were $78 million, 22% more than the same period of 2008.

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