Pan-American Life Starts Operations in Costa Rica
The insurer will launch a strong campaign to enter the market, looking to create demand for its services.
Wednesday, July 21, 2010
Eugenio Magdalena, executive vice president of International Markets at Pan-American, remarked that the company will provide individual insurance, focusing on life, health and accident policies.
Pan Americal Life, “Internacional de Seguros” and “ASSA Seguros” have bid for supplying the government with insurance services.
Two new companies sold 17% of this sector of the Costa Rican market.
Pan American Life Insurance was finally authorized by the Insurance Superintendence to operate in the country.
Between January and September revenue from sales of these policies increased by 74% compared to the same period in 2013, with the sale of group insurance policies to companies being the factor driving the growth.
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