INS sales reach US$273mn to Nov.
Bnamericas Published: Wednesday, December 22, 2004
The national insurance institute of Costa Rica (INS) had sales of 125bn colones (US$273mn) to November of this year, INS said in a press release. The figure reflects an increase of 22.2% in sales compared to the 102,1bn colones registered in 2003m which according to Luis Javier Guier, president of INS, means the institute is performing well and the 147,4bn colones target for the year would be achieved. The policies that generated the greatest revenue was automobile, followed by general and personal insurance. Commercial agents contributed most to sales (69%) followed by independent insurance agents (12%), INS offices (12%) and state insurance (7%). The INS, a state insurance monopoly, was created in 1924 and offers life as well as general insurance, while its subsidiary INS-Pensions operates in the local pension fund market.
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