This year, Costa Rican ICMIF member Sociedad de Seguros de Vida del Magisterio Nacional celebrates a significant milestone. The organisation is celebrating 105 years of history which it says is backed by sound financial management, a long-term strategic vision and a firm commitment to social welfare and solidarity.
Sociedad de Seguros de Vida del Magisterio Nacional was established in 1920 to provide protection workers in the education sector through the mutual model, the only organisation to do this in Costa Rica. The company provides mutual life policies for teachers, administrative staff, security officers and janitors, belonging to both public and private educational centres, including universities.
Currently, more than 190 thousand people working in the education sector contribute monthly to the mutual fund, which guarantees coverage of CRC 28 million to beneficiaries in the event of the death of the insured. In 2024, Sociedad de Seguros de Vida del Magisterio Nacional says it disbursed more than CRC 35 billion in policies to the beneficiaries of 1,284 deceased workers. This was supplemented by them granting more than CRC 4,700 million in solidarity aid.
General Manager, Georgina Díaz, said: “We are proud to become a centennial institution, but this achievement is not only ours: it belongs to each of our associates who have placed their trust in this solidarity model. They are the ones who have sustained, strengthened and legitimised our reason for being. Responsible and committed administration has been key to maintaining stability during these 105 years, but it has been the collective commitment that has allowed us to transcend generations.”
The organisation stands as a strong example of how the mutual model can be successfully implemented and sustained over time. Its ability to grow and adapt through different economic and social landscapes places it among a select group of long-standing institutions that have made significant contributions to Costa Rica’s development.
Operationally, the organisation has embraced innovation, environmental responsibility, and social impact as key pillars of its strategy. Its achievements are reflected in certifications such as INTE/ISO 9001:2015, INTE 035, and Carbon Neutral Plus—clear indicators of its dedication to high standards, operational excellence, and reducing its environmental footprint.
One of its flagship programmes is “Yo Pienso Verde”, an environmental initiative that has benefited more than 90 thousand people in just over a decade. This strategy is complemented by financial education programmes, comprehensive support for associates and community actions.
Looking to the future, Sociedad de Seguros de Vida del Magisterio Nacional says it intends to consolidate its operating model and also adapt to both technological and social transformations whilst keeping mutuality at the heart of the organisation.
“We want to continue to be a benchmark of stability and institutional confidence. Not only are we helping our associates leave a legacy for their families, but we’re also building our own: a heritage of strength, social impact, and sustainable vision. Our commitment is to remain current, relevant and sustainable for another 100 years,” concluded Díaz.
Sociedad de Seguros de Vida del Magisterio Nacional will host the forthcoming ICMIF Americas Conference in San José (27-29 August 2025). Find out more and register here.
