The Nicaragua general insurance market witnessed an increase at a compound annual growth rate (CAGR) of 1.7% from $0.1bn in 2016 to $0.2bn in 2021.

As per the data, the leading companies occupied 100.0% of Nicaragua’s total general insurance market.

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1. ASSA Insurance(Nicaragua)

ASSA Insurance(Nicaragua) ranked number one in the country, reporting a growth of 13% compared with the previous year’s premium. Its ranking among the leading general insurance companies in the previous year was two, which now improved to number one.

2. Seguros America

Ranking number two in Nicaragua’s general insurance market was Seguros America. The company registered a 8.2% growth compared with the premium in 2020. From number one position in the previous year, the company’s ranking among the leading general insurance slipped to number two.

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3. Lafise

Lafise ranked number three in Nicaragua’s general insurance market. Compared with previous year’s premium, the company registered a growth 16.4%. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

4. INISER (Instituto Nicaragüense De Seguros y Reaseguros)

INISER (Instituto Nicaragüense De Seguros y Reaseguros), which ranked number four in Nicaragua’s general insurance market, registered a 12.7% growth compared with last year’s premium. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

5. Mapfre (Nicaragua)

Mapfre (Nicaragua) ranked number five in Nicaragua’s general insurance market. The company registered a growth of 24.9% compared with last year’s premium. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

Methodology

This analysis is drawn from GlobalData’s Company LoB Breakdowns Database, which tracks key insurance metrics across segments, categories, and line of businesses for more than 150 markets, globally. The data is sourced from regulatory authority/industry association/company SFCR. This data is mapped to segments and categories as per our standard Industry Native Taxonomy Structure. The calculations are based on premiums standardised by the following order of preference Gross Written Premiums > Direct Written Premiums > Net Earned Premiums > Net Written Premiums. Verdict’s parent company GlobalData provides business information to 4,000 of the world’s largest companies.