The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
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.
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? 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.