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The Insurance Industry in Costa Rica, Key Trends and Opportunities to 2019

  • July 2015
  • -
  • Timetric
  • -
  • 142 pages

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Synopsis
Timetric’s ' The Insurance Industry in Costa Rica, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Costa Rican insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019). The report also analyzes detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Summary
The report provides in-depth market analysis, information and insights into the Costa Rican insurance industry, including:

- The Costa Rican insurance industry's growth prospects by segment and category

- Key trends, drivers and challenges in the Costa Rican insurance industry

- Details of the competitive landscape in the Costa Rican insurance industry

- Details of regulatory policy applicable to the Costa Rican insurance industry

Scope
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 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key segments in the Costa Rican insurance industry, and market forecasts to 2019.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, 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.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Costa Rican insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Costa Rican insurance industry.

- Assess the competitive dynamics in the Costa Rican insurance industry.

- Identify growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Costa Rican insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The Costa Rican insurance industry grew in terms of gross written premium at a review-period CAGR of 13.4%.

- Government’s liberalization initiative and implementation of new insurance law is expected to support the industry's growth.

- The Central American Association Agreement is expected to encourage European insurers to participate in the country’s insurance industry.

- The non-life segment accounted for 75.2% of the industry’s gross written premium in 2014.

- Motor insurance was the largest category in non-life segment in terms of gross written premium during the review period.

- The Costa Rican insurance industry is governed by the Superintendencia General de Seguros de Costa Rica (Sugese).

- The Costa Rican insurance industry had 13 insurers as of 2014, with INS as the largest insurer in both general and personal lines of business.

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