Costa Rica Insurance Report Q3 2016

Publisher Name :
Date: 03-Sep-2016
No. of pages: 42

BMI View: The Costa Rican insurance industry is set for robust growth out to 2020. Growth in the life

sector will outperform growth in the non-life sector as the former will benefit specifically from rising

incomes and a desire for savings. The non-life sector will grow based on demand for insurance of big-ticket

items such as property, motor insurance and robust growth prospects for the health insurance line. We are

nevertheless cautious about the primacy of the former state-owned monopoly INS, which had premiums of

over 80% of the total insurance industry in the country.

Latest Updates & Industry Developments

? We maintain a strong outlook for the insurance industry as a whole. We forecast total insurance industry

growth of 5.0% y-o-y in 2016, with premiums reaching USD1.3bn

? Life sector growth will amount to 5.6% y-o-y in 2016, with premiums reaching USD162mn.

? Non-life sector growth will amount to about 4.9% in 2016, with premiums reaching USD1.1bn.

Costa Rica Insurance Report Q3 2016

Table of Contents

BMI Industry View 5
Table: Headline Insurance Forecasts (Costa Rica 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 7
Life Premiums Forecast 7
Table: Life Premiums (Costa Rica 2013-2020) 10
Table: Life Insurance Claims (Costa Rica 2008-2015) 10
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (Costa Rica 2013-2020) 14
Table: Non-Life Insurance Claims (Costa Rica 2009-2015) 14
Non-Life Sub-Sector Forecast 15
Table: Non-Life Insurance Premiums by Product Line (Costa Rica 2013-2020) 22
Industry Risk/Reward Index 24
Latin America Insurance Risk/Reward Index 24
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q316 25
Market Overview 26
Life Market Overview 26
Product Offering 26
Competitive Landscape 26
Table: Life Insurance Market Share USDmn, 2012-2014 27
Non-Life Market Overview 27
Product Offering 27
Competitive Landscape 28
Table: Non-Life Insurance Market Share, USDmn, 2011-2014 29
Company Profile 30
ASSA 30
INS 32
MAPFRE 34
Methodology 36
Industry Forecast Methodology 36
Risk/Reward Index Methodology 39
Table: Indicators 41
Table: Weighting of Indicators 42

List of Tables

Table: Headline Insurance Forecasts (Costa Rica 2013-2020)
Table: Life Premiums (Costa Rica 2013-2020)
Table: Life Insurance Claims (Costa Rica 2008-2015)
Table: Non-Life Premiums (Costa Rica 2013-2020)
Table: Non-Life Insurance Claims (Costa Rica 2009-2015)
Table: Non-Life Insurance Premiums by Product Line (Costa Rica 2013-2020)
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q316
Table: Life Insurance Market Share USDmn, 2012-2014
Table: Non-Life Insurance Market Share, USDmn, 2011-2014
Table: Indicators
Table: Weighting of Indicators
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