Oceánica de Seguros, founded on Venezuelan capital, is the tenth insurance company to be incorporated into the Costa Rican market after its de-monopolization in 2008.

The superintendent of insurance, Javier Cascante, said the company, which is the eleventh to join the insurance market after its opening, will have a joint operating license, for personal and general policies.

Nacion.com quoted the superintendent who said, “… another insurer also of South American capital is in the process of enrolment. The market continues to grow. Within two years, not taking into account the effect of inflation, growth of direct premiums reached 14%, which is quite high. Strong figures for a market that we consider small.”

Source: Nacion.com