Albany, NY -- (ReleaseWire) -- 06/24/2014 -- The report provides in-depth industry analysis, information and insights into the insurance industry in Costa Rica, including:
- The Costa Rican insurance industry’s growth prospects by insurance segments and categories
- The competitive landscape in the Costa Rican insurance industry
- The current trends and drivers of the Costa Rican insurance industry
- Challenges facing the Costa Rican insurance industry
- Detailed regulatory framework of the Costa Rican insurance industry
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The Costa Rican insurance industry underwent a significant transformation during the review period following its liberalization in 2008. Until 2008, the industry was predominantly led by the state-owned insurance company, Instituto Nacional de Seguros (INS). However, the scenario has changed and the number of insurance providers increased following the liberalization process; as of 2013, there were 13 companies licensed to conduct insurance business in Costa Rica.
This report provides a comprehensive analysis of the insurance industry in Costa Rica:
- It provides historical values for the Costa Rican insurance industry for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.
- It offers a detailed analysis of the key segments and categories in the Costa Rican insurance industry, along with forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in Costa Rica, and outlines the key regulations affecting them.
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Reasons to buy
- Make strategic business decisions using in-depth historic and forecast industry data related to the Costa Rican insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Costa Rican insurance industry.
- Assess the competitive dynamics in the Costa Rican insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
- Gain insights into key regulations governing the Costa Rican insurance industry and its impact on companies and the industry's future.
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- The Costa Rican insurance industry grew in written premium terms at a CAGR of 10.0%.
- The Costa Rican insurance industry underwent a significant transformation during the review period (2009–2013) following its liberalization in 2008
- The penetration rate of Costa Rica’s life segment stood at 2.06% in 2012, which is low when compared to countries such as Panama, which recorded a rate of 3.6%.
- Costa Rica’s working-age population is increasing marginally, which will support the development of its insurance industry.
- As of December 2013, 13 companies were licensed to conduct insurance business in the country.
- In 2013, there were 11 insurance companies operating in the life insurance segment.
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