españolFine Given for Anticompetitive Insurance PracticesThursday, September 25, 2014 The Costa Rican State insurance company will have to pay $174,000 as a penalty for "improving any offer made by their competition to their customers." The Antitrust Commission imposed a fine of 94 million colones ($174,000) on Instituto Nacional de Seguros (INS) in a case reported by the Superintendent of Insurance in 2011, a year after the opening up of the market. Costa Rica: Insurance Market up to March 2015Tuesday, May 12, 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. Nicaragua: Insurance Market up to MarchMonday, May 26, 2014 Products in the category of life, accident and health lead the 6% increase in premiums seen in the first three months of the year compared with the same period in 2013. Total premiums paid in the first quarter amounted to $42 million, of which 37.4% were for first party car insurance, 21.0 % for fire insurance and associated lines, 19.09 % for life insurance (individual and collective) and the remaining 6.01 % for health insurance. Insurance Market in Costa Rica up to March 2014Friday, May 23, 2014 The state run Nacional de Seguros and PanAmerican Life share 88% of the market in the segment of accident and health policies. The segment for Accident and Health policies showed that up to March 2014 the majority market share was held by Instituto Nacional de Seguros (INS) with 46.4% and 41.7% was held by Pan American Life, according to the Superintendent of Insurance (SUGESE). The remaining 11.9% is made up of the Insurers Aseguradora del Istmo, with 7.4%, and other market participants (Mapfre, BMI, Atlantic Sauther, SM) with 4.5%. The Young Insurance Market in Costa RicaMonday, May 27, 2013 The insurance firm Assa has gained ground focusing on selling insurance to companies, and among the new participants in the market, it has obtained the best results. Figures from the Superintendent of Insurance (SUG), reveal that for December 2012, Assa Insurance Company had the highest revenue from premiums of all the private firms and was one of the best earners. Guatemala: Insurance Market TrendsThursday, September 25, 2014 In August 2014 the field of health and personal accident was the category which recorded the biggest loss, equivalent to $7 million. A monthly report by the Guatemalan Association of Insurance Institutions shows that the categories of personal health and auto accident and were two which experienced the greatest losses in the month of August. Costa Rica: Personal Insurance Premiums Up 21%Friday, July 25, 2014 The sale of life, accident and health insurance rose from $113 million in June 2013 to $148 million in the same month in 2014. Figures from the Superintendence of Insurance (SUG) show the growing interest on the part of Costa Ricans in policies for medical expenses and life coverage. While the premiums for personal expenses policies, including the two mentioned above, grew by 21% last year, the increase in overall policies in the same period was 12%. In total they invested $566 million. Costa Rica: OECD Endorses Insurance and Pension PolicyWednesday, January 31, 2018 The OECD Consumer Policy Committee has approved policies on insurance and private pensions, and recommended improving risk-based supervision and promoting the participation of more insurers. From a statement issued by the Ministry of Foreign Trade: Costa Rica: More Competitors in Insurance SectorThursday, September 11, 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: Panama Metro Insurance for $3.2 millionFriday, March 14, 2014 The Ministry of the Presidency is inviting bids for an Insurance Program for the Operation of Metro Line 1. The program designed by the Secretariat of the Metro includes: Banco Popular to Sell Insurance in Costa RicaFriday, July 17, 2009 Starting June 2009, the bank is authorized to sell insurance, and it will start will INS policies. Presently, Banco Popular only commercializes Popular Seguros services in its central offices, but will expand to other locations in the short and mid term. The "Gray" Insurance MarketTuesday, October 6, 2009 Illegal insurance would continue existing in Costa Rica, despite opening the market and tighter supervision. The former monopoly by the National Insurance Institute of Costa Rica (INS) favored the sale of insurance by companies without presence in the country, specially in the life insurance segment. Demonopolization of Mandatory Auto InsuranceThursday, January 8, 2015 The Superintendency of Insurance in Costa Rica is planning to start the process of opening up the market for compulsory automobile insurance in the first quarter. In order to liberalize the market for compulsory automobile insurance, there first needs to be a review and approval of a decree which will focus on the regulation of the sale of insurance from the National Insurance Institute (INS) to private companies. Another Insurer in Costa RicaThursday, July 5, 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. Insurance Market in El Salvador Not Taken OffWednesday, October 23, 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. However, this depends on intermediaries applying the best strategies to introduce the product, because they will be the ones to negotiate the best options for a policy with clients. |
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Monday, May 23, 2022 - last update: Friday, 3:09 pm
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