Bank of Costa Rica to sell insurance

The company called BCR Seguros (Insurance) will function as an agent, that is, it will sell policies from various insurance companies.

Monday, December 8, 2008


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This way, the BCR plans to make the most of the opening of the insurance market.

Presently the bank only sells policies from the National Insurance Institute (INS).

In the next few days, they will present the documentation to the Insurance Superintendence to obtain the official authorization and registration.

More on this topic

Costa Rica: The State Still Buys Insurance from INS

August 2012

Despite the de-monopolization of the market four years ago, state institutions continue to obtain their insurance with the National Insurance Institute (INS).

An article in Nacion.com reports that "Although the Law Regulating the Insurance Market (LRMS) leaves open the possibility for public sector entities to buy private insurance policies, few enterprises have contracted their services."

Progress in Opening Insurance Monopoly in Costa Rica

April 2009

Three foreign insurance companies are requesting permission to enter the market.

Because the law governing the insurance market, it is not possible to know their names or their origin, reported Javier Cascante, superintendent of pensions.

In an interview with journalist Mercedes Agüero of Nacion.com, the superintendent said: "Two companies are in the initial stage of the registration process.

Bancrédito Costa Rica Can Sell INS Insurance

March 2009

Arnoldo Trejos, assistant manager at Bancrédito, announced that the Superintendent of Pensions (SUPEN) authorized the bank to sell INS (National Insurance Institute) policies.

The assistant manager informed Nacion.com: "We are presenting the Supen resolution to the board of directors as part of the last legal procedures for the subsequent registration of the society with the National Registry.

Costa Rica: Banks expedite procedures for the sale of insurance

January 2009

In February, the period for banks to get authorization from the Insurance Superintendence to continue selling insurance policies will end.

According to the new Insurance Law, as reported by Nacion.com: "Banks have to set up a company exclusively for the sale of insurance, and it has to be accredited with the Superintendence.

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