New Association of Insurance Companies in Costa Rica

It groups all the insurance companies authorized to operate in the country.

Wednesday, February 17, 2010

Called ACAR (Costa Rican Association of Insurers and Reinsurers), it is chaired by Guillermo Constenla, head of INS, the National Insurance Institute.

“Constenla explained that the association has been created to assist the Insurance Superintendence in generating a more fluid insurance market”, reported El Economista.



More on this topic

Good year for Insurance Industry in Costa Rica

December 2013

In the last interannual period personal insurance increased by 11%, general by 5% and compulsory by 9%.

From a bulletin on the Insurance Sector in November 2013 by the Superintendency of Insurance:

BASIC INDICATORS
The total amount of direct premiums collected reached c436,3 billion in November 2013. The involvement of voluntary insurance equaled the average of the last four annual periods - Nov 20l0-Nov 20l3), 73%.

Insurance Market in El Salvador Not Taken Off

October 2013

In the last five years penetration of the insurance market did not reach even 2% of GDP because people see insurance as an unnecessary expense.

According to Richard Cohen, executive president of the Salvadoran Association of Insurance Companies (ASES), penetration of this market has the potential to grow up to four times in the next few years.

Changes in Nicaraguan Insurance Market

May 2013

Private insurers are beginning to outperform the state insurance company and have so far captured a 40% market share.

The ranking of the premiums made by the Superintendency of Banks and Other Financial Institutions (Siboif) reveals that in the case of Seguros América S.A.,in the first quarter of 2013, they led the market with 29.3% of the sector.

New Insurance Company Authorized in Costa Rica

February 2013

Sagicor has been authorized by the Superintendent of Insurance to sell personal and general policies.

According to an article in Elfinancierocr.com, Sagicor "... is originally from Barbados and was founded 172 years ago. Sagicor belongs to Sagicor Financial Corporation, an entity which was founded in 2002 and is listed on the stock exchanges of Jamaica , Barbados, Trinidad & Tobago and London. "