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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Costa Rica non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Costa Rica's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Costa Rican non-life (P&C) market as well as trends by line of business. Axco analysts also report on Costa Rica's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Costa Rica insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Costa Rica, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Costa Rica, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Costa Rica with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
According to Axco Global Statistics Costa Rica was ranked in 66th place (on a USD basis) in the world insurance market in 2018, and 60th for non-life business only. Whilst small in comparison to the major Latin American insurance markets, Costa Rica has the largest non-life insurance market in Central America.
The non-life sector has experienced periods of erratic growth since the abolition of the monopoly held ....
This is a brief extract of information; more updated information may be available in the latest published report