Consumer durables is a cataloguing of consumer goods that are not essential to be bought very often as they are fashioned in a way so as to last for an extended period of time. Profits in the consumer durables sector were most profoundly…
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.