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: In both the life and the non-life segment, we had to revise downwards our estimates of
premiums for 2015 and forecasts for 2016. Nevertheless, we remain positive about the prospects for both
segments from 2017 to the end of the forecast period in 2020. Life insurance as well as health and personal
accident insurance are likely to grow particularly quickly from 2017.
Latest Updates & Industry Developments
- In terms of absolute size, penetration and density, both of the main segments of Costa Rica's life
insurance sector are under-developed. Nevertheless, the overall environment remains benign for both. A
sustained period of steady and inclusive economic growth should boost household incomes. This is in the
context of a generally favourable business environment.
- The competitive landscape remains dominated by state-owned former monopoly INS. Nevertheless, the
property insurance sub-sector of the non-life segment remains exposed to lower prices because of overcapacity
in global property/casualty (re)insurance markets.