Insurance in Costa Rica 2014: Direct Premiums Up 15%

Premiums for personal policies led growth in 2014 compared to the previous year, followed by general and mandatory policies.

Tuesday, February 3, 2015

From a statement issued by the Superintendent of Insurance in Costa Rica (SUG):

Voluntary insurance represent 69% of total premium revenue, showing an increasing trend across the board. Total premium income, including compulsory policies, was $1.1674 billion.

2014 data correspond to the correct way to measure premiums, however they are not comparable with previous periods, since the latter were undervalued in relation to workplace hazards.



More on this topic

Insurance Market: Figures in 2018

February 2019

Total insurance premium revenues in Costa Rica totaled $1.261 million in 2018, 3% more than in 2017.

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.

Insurance Market Up 6%

August 2018

In the first five months of the year, total income from insurance premiums in Costa Rica added up to $682 million, registering an increase of 6% compared to the same period in 2017.

Between January and May of this year, growth of mandatory insurance was mainly due to the 14% increase registered in occupational risk premiums, according to a report by the General Superintendence of Insurance.

Insurance Market up to May 2018

July 2018

Growth in Personal Accident and Individual Life policies accounted for most of the 12% growth recorded during the fifth month of the year in the Dominican Republic.

In May, compared to 2017, the lines that reported the highest growth were: Bonds, 132%; Personal Accident, 41%; and Individual Life, 34%, reported the Superintendency of Insurance.

Dominican Republic: Insurance Market Up 22%

February 2018

In 2017, net premiums collected totaled $1 billion, 22% more than the $829 million reported in 2016.

According to figures from the Superintendency of Insurance of the Dominican Republic, last year Seguros Universal was the company that registered the highest number of net premiums collected, adding up to $216 million, equivalent to 21% of the total market.

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