The Insurance Industry in Costa Rica Key Trends and Opportunities to 2020

The Insurance Industry in Costa Rica Key Trends and Opportunities to 2020

  • August 2016 •
  • 131 pages •
  • Report ID: 4089271 •
  • Format: PDF
Synopsis
Timetric’s 'The Insurance Industry in Costa Rica Key Trends and Opportunities to 2020' report provides a detailed analysis of Costa Rican insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (2015–2020).

The report also gives a comprehensive overview of Costa Rican economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes the impact of natural hazards on the insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.

Summary
Timetric’s 'The Insurance Industry in Costa Rica, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into Costa Rica insurance industry, including:

- An overview of Costa Rican insurance industry

- The Costa Rican insurance industry's growth prospects by segment and category

- A comprehensive overview of Costa Rican economy and demographics

- The detailed competitive landscape in the Costa Rican insurance industry

- Detailed regulatory policies of the Costa Rican insurance industry

- Overview of distribution channels in the Costa Rican insurance industry

- An analysis of natural hazards in the Costa Rican insurance industry

Scope
This report provides a comprehensive analysis of the insurance industry in Costa Rica:

- It provides historical values for Costa Rican insurance industry for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key segments in Costa Rican insurance industry, with market forecasts to 2020.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

- It profiles the top insurance companies in Costa Rica, and outlines the key regulations affecting them.

- It covers the economy and demographics structure of Costa Rica.

- It analyzes the distribution channels in the Costa Rican insurance industry.

- It analyzes the impact of natural hazards in Costa Rican insurance industry.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to Costa Rican insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in Costa Rican insurance industry.

- Assess the competitive dynamics in Costa Rican insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing Costa Rican insurance industry and their impact on companies and the industry's future.

Key Highlights
- The Costa Rican insurance industry underwent transformation during the review period following its liberalization in 2008.

- Healthcare costs are typically 40–70% lower than in the US and Canada. Low costs and better services from skilled medical practitioners are adding value to the Costa Rican medical tourism sector.

- INS was the largest insurer in the Costa Rican insurance industry, and accounted for 80.8% of the industry’s gross written premium in 2015.

- Costa Rica is prone to natural disasters such as floods, earthquake, storms and landslides. Earthquakes of low magnitude occur frequently in Costa Rica, which increased demand for earthquake-proof engineering and supported the growth of property insurance during the review period.
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