The insurance company requested authorization on September 2009, and has now become the sixth to enter the Costa Rican market.

“The authorization does not imply its immediate operation, it must sill comply with other requisites established in the Insurance Market Law”, reported Elfinancierocr.com.

Source: elfinancierocr.com

More on this topic

Costa Rica: Insurance Market up to March 2015

May 2015

The reduction of 30% in premium income from compulsory work risk insurance accounted for most of the 8% decline in revenues from total premiums up to March.

In March general insurance and personal insurance maintained the upward trend that had been seen the previous months, with growth rates compared to the same month in 2014 of 6.1% and 8.3%, respectively.

Costa Rica: More Competitors in Insurance Sector

September 2014

US insurer BlueCross BlueShield, has announced the opening of its operations in the country, which will be part of the Puerto Rican Triple-S Group.

From a statement issued by BlueCross BlueShield Costa Rica:

Insurer arrives in the country with plans for complementary health

Statistics on Private Insurers in Costa Rica

June 2013

Pan American Life and Assa accumulate 6% of the market, reporting up to May 2013 accumulated income of $12 million.

According to the Superintendent of Insurance (SUG) these two companies have the largest reported income. "Other market participants with significant shareholdings are Mapfre Seguros with revenues of $7 million and Aseguradora del Istmo with $4.5 million," noted an article in Elfinancierocr.com.

Another Insurer in Costa Rica

July 2012

Oceánica de Seguros, founded on Venezuelan capital, is the tenth insurance company to be incorporated into the Costa Rican market after its de-monopolization in 2008.

The superintendent of insurance, Javier Cascante, said the company, which is the eleventh to join the insurance market after its opening, will have a joint operating license, for personal and general policies.