Bolívar Insurance Begins Operations in Costa Rica
The insurance company has set up a Costa Rican subsidiary company to enable it to begin operations in October.
Monday, August 2, 2010
The company already has the required permissions from the Costa Rican authorities and will compete in general and life-insurance policies.
The insurer is owned by a Panamanian company called “Riesgo e Inversiones Bolivar S.A.”, a member of corporate group “Grupo Empresarial Bolivar”.
Despite the de-monopolization of the market four years ago, state institutions continue to obtain their insurance with the National Insurance Institute (INS).
Three years since the privatisation of the insurance sector, the state agency (INS) remains the main entity in the market.
The Panamanian insurer, owned by regional conglomerate Grupo Mundial, would operate in Costa Rica in 4 months.
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