españolPrivate Insurance in Costa Rica Not Taking OffWednesday, November 23, 2011 Three years since the privatisation of the insurance sector, the state agency (INS) remains the main entity in the market. The market dominance of the National Insurance Institute (INS), with 94% of total premium income, is, in the opinion of the Association of Private Insurance (AAP), a result of the supervision exercised by the Superintendency of Insurance (Sugese). Costa Rica’s Insurance MarketMonday, October 31, 2011 In the newly privatised insurance market, companies are competing with the National Insurance Institute (INS in Spanish) to increase their portfolios. Last June, according to the premium income figures, registered insurance lines and assets, INS was first, followed by Assa and Alico with its life and health insurance lines. Insurance Industry in Costa RicaThursday, September 17, 2009 Fitch Rating's Special Report: "Insurance Industry Costa Rica: End of the State's Monopoly" Costa Rica's insurance industry had been dominated by a state-owned monopoly until the new Insurance Law of 2008; up to December 2008 it is the largest and fastest growing market in Central America (excluding Panama). Total premiums by the end of 2008 summed $611.5 million, with the region's largest year-on-year growth (19.4%). Guatemala: The Potential of The Insurance SectorThursday, February 6, 2014 The sector's share in GDP is only 1.2 %, whereas in El Salvador and Costa Rica it amounts to 2.1% and 2% respectively. The insurance market in Guatemala has a lot of potential for growth. Price Competition Amonst Panamanian Insurance CompaniesFriday, September 19, 2014 Insurers say the highly competitive market is generating large variations in the prices of premiums, particularly in auto policies. Growth in claims, primarily in motor insurance, which increased 14% in the first half of the year compared to the same period in 2013, is generating increases in prices of premiums. Private Unemployment InsuranceWednesday, June 27, 2012 Guatemala has authorized the marketing of new insurances, including unemployment and terminal illness cover. With authorization from the Superintendency of Banks (SIB) unemployment insurance will be available in the short term. Good Figures for Regional Insurance MarketFriday, March 16, 2018 Explained by the behavior of the Costa Rican market, in 2017 Central American insurers received $5.02 billion in premiums, 7% more than in 2016. According to a report drawn up by Revista Desempeño Asegurador, in 2017 " ... insurance sales in the region expressed an absolute increase of US $334.7 million, an amount that represented a rise of 7.1% compared to sales in 2016." Latin America: The Golden Child for InsurersTuesday, May 21, 2013 During the first half of 2012, the insurance sector in Latin America had a premium volume of $77,085 million, maintaining growth rates of two digits. According to César Quevedo, deputy director of the Institute of Science at Seguro de Fundación Mapfre, the insurance industry is "key" to this global market. Costa Rica: Insurance Market in April 2016Monday, July 11, 2016 Income from voluntary insurance premiums grew by 25% compared to April 2015, due in most part to the increase in personal insurance. dir="ltr">From the quarterly report by the Superintendent of Insurance of Costa Rica: Costa Rica: The Surity Bond MarketWednesday, December 3, 2014 Insurers have started to issue these policies which compete with bank share and performance guarantees. The National Insurance Institute (INS) and Oceánica Seguros are the two companies which have been offering such policies since this year. Meanwhile, the company ASSA will start to offer them in in 2015 and Mapre is still adjusting its offers with a view to supplying them in the future. Panama 2013: Insurance Was Not Good BusinessMonday, December 16, 2013 Industry participants predict a year-end in the red because of a sharp increase in claims for losses. Prensa.com reports: "Although total premiums up to October 2013 was $976 million, with growth in the sector of 9.6% compared to the same period last year, the directors of the Panamanian Association of Insurers (Apadea) predict that at the end of the year there will be a loss. " Insurance Market in Costa Rica in 2012Monday, February 18, 2013 A report by SUGESE contains information on Basic Indicators, Market Structure and Participants and Products. December 2012 Bulletin from the Superintendent of Insurance (SUGESE):
BUSINESS OPPORTUNITY
Tender of $8 Million in InsuranceMonday, July 13, 2020 The insurance for the construction of the civil works, auxiliary installations of line and stations, supply and installations of the integral system, of the Line 3 of the Panama Subway, is tendered for 54 months. Panama: Bureaucracy Stalls MicroinsurersMonday, February 2, 2015 Insurers claim that the market has been unable to grow due to the excessive number of arrangements to be made to register a channel for marketing products. Industry participants argue that "... today alternate marketing channels are not open and regulation makes it difficult to register a marketing channel." Costa Rica: Insurers Can Not Sell BondsThursday, December 11, 2014 Insurers are limited to selling insurance policies and are not allowed to sell commercial bonds. After the Insurance Superintendence requested clarification on whether or not insurers were authorized to sell bonds, the Attorney General's Office concluded that "... insurance companies should be limited to its insurance business, therefore they are not allowed to sell commercial bonds. " |
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