The Costa Rica insurance market maintained solid growth during the first half of 2026, supported by rising premium volumes despite the impact of exchange rate movements. By June 2026, total Life and Non-Life insurance premiums reached USD 1.687 billion, representing a 16.9% nominal increase compared with June 2025, confirming the market's continued expansion.
Measured in local currency, the market generated CRC 747.369 billion in gross written premiums, compared with CRC 710.120 billion one year earlier. This represents a 5.2% nominal year-over-year increase, reflecting sustained premium growth in domestic currency.
The Costa Rican insurance industry is relatively concentrated, with 12 insurance companies competing in the market. Although this represents only 1.5% of all insurers operating across Latin America, the market remains one of the region's most structured and competitive insurance sectors.
INS continues to dominate the industry with an overwhelming 64.1% market share, maintaining a clear leadership position. PAN AMERICAN LIFE ranks second with 10.0%, while ASSA holds third place with 7.1% of total premiums. Together, the three largest insurers control 81.2% of the market, highlighting the high level of concentration within Costa Rica's insurance sector.
The group of leading insurers also includes MAPFRE, QUALITAS, LAFISE, MNK (EX OCEANICA), SAGICOR, and BEST MERIDIAN, reflecting the presence of both international insurance groups and regional players competing across multiple business segments.
Overall, Costa Rica's insurance market continues to combine strong premium growth with a highly concentrated competitive structure. While the market remains clearly led by INS, the participation of international insurers demonstrates an increasingly diversified competitive environment as companies seek opportunities in one of Central America's most developed insurance markets.
Source: LATIN AMERICA INSURANCE MONITOR. INDUSTRY STATISTICS, COMPETITIVE LANDSCAPE AND FORECAST REPORT