Direct written premiums in Costa Rica
Highest year-on-year market share growth ranking
The insurance market in Costa Rica showed a positive performance in July 2023, according to the latest data from the Superintendencia General de Seguros (SUGESE). The total volume of direct premiums increased by 6% compared to July 2022, reaching 708 billion colones.
The ranking of insurers that had the highest market share growth in terms of direct premiums was led by the Instituto Nacional de Seguros (INS), which increased its share from 66.64% to 67.66%. It was followed by ADISA, QUALITAS, MAPFRE and SAGICOR, which also gained market share, although with smaller percentages.
By type of insurance, personal insurance grew by 8%, reaching 384 billion colones, while general insurance grew by 3%, reaching 324 billion colones. Within personal insurance life insurance showed a 9% growth rate, and health insurance grew by 4% and mandatory occupational risk insurance (SRT) 12%. Within general insurance, mandatory automobile insurance (SOA) and also automobile insurance showed both a 5% growth rate. On the other hand, fire and allied lines insurance decreased by 5%.
The ranking of insurers that had the highest market share growth in terms of direct premiums was led by the Instituto Nacional de Seguros (INS), which increased its share from 66.64% to 67.66%. It was followed by ADISA, QUALITAS, MAPFRE and SAGICOR, which also gained market share, although with smaller percentages.
By type of insurance, personal insurance grew by 8%, reaching 384 billion colones, while general insurance grew by 3%, reaching 324 billion colones. Within personal insurance life insurance showed a 9% growth rate, and health insurance grew by 4% and mandatory occupational risk insurance (SRT) 12%. Within general insurance, mandatory automobile insurance (SOA) and also automobile insurance showed both a 5% growth rate. On the other hand, fire and allied lines insurance decreased by 5%.