According to the latest market research analyzing premium volume by insurance line, income, expenses, claims, and results by insurer from 2011 to the present, the Nicaraguan insurance market showed solid growth in the first quarter of 2025. Net written premiums reached 2,782 million córdobas, reflecting a 13.9% nominal year-on-year increase compared to the 2,443 million recorded in the same period of 2024.
This expansion was mainly driven by the automotive insurance segment, which posted a remarkable 26.4% year-on-year growth. Life insurance followed with a 15.3% increase, while mandatory insurance rose by 11.1%. Fire insurance grew at a more moderate pace of 4.2%, and health insurance remained practically stable, with a slight rise of 0.5%.
Despite the increase in premium volume, the industry experienced a deterioration in technical and net results. Total claims surged by 39.6%, reaching 1,144 million córdobas, up from 819 million a year earlier. Operational expenses also rose by 11.8%, amounting to 938 million córdobas. These pressures led to a 26.3% drop in the technical result, which fell from 185 million to 136 million córdobas. Similarly, the sector’s final result declined by 18.8%, totaling 266 million córdobas in the first quarter of 2025.
In terms of market share based on total premium volume, the five leading insurers continue to dominate the market. LAFISE leads with a 24.9% share, closely followed by AMERICA with 24.2%, INISER with 20.6%, ASSA with 18.7%, and MAPFRE Nicaragua with 11.6%.
When analyzing market share dynamics, notable changes were observed. MAPFRE Nicaragua recorded the highest gain in overall market share, with a 2.34 percentage point increase compared to the previous year. AMERICA also strengthened its position, gaining 0.67 percentage points. However, the performance of each company varies significantly when examined by insurance line, revealing a more nuanced competitive landscape.
Regarding net results by company, INISER was the most profitable insurer in the first quarter of 2025, with a final result of 104.1 million córdobas. LAFISE followed with 95.4 million, while AMERICA posted 30.9 million. MAPFRE Nicaragua reported a net result of 20.2 million, and ASSA closed the ranking with 15.1 million córdobas.
These results provide a comprehensive overview of the current state and competitive dynamics of Nicaragua’s insurance industry, offering valuable insights for professionals seeking to understand recent trends in premium evolution, market shares, and financial outcomes.