The Chairman of the Instituto Nacional de Seguros de Costa Rica says there is $13 billion available in domestic financial institutions that could be profitably invested in road infrastructure.
Prensalibre.cr reports that at a hearing of the Committee on Economic Affairs of the Legislative Assembly, the president of the INS, Guillermo Constenla explained to deputies "his opinion on the possibility of financing of the route between San Jose and San Ramon. "
After two years of full competition in Costa Rica, insurers are keeping in place aggressive pricing tactics and incentives in the battle for customers.
In an interview conducted by Sergio Morales for Elfinancierocr.com, William Constenla, president of the National Insurance Institute (INS by its initials in Spanish), explained that the company has been forced to confront the price war by offering more services or range of products, offering, for example, zero deductible car insurance, which means that the insured party does not have to pay anything in case of an accident.
The National Insurance Institute will resume this year its plan to expand its operations to the countries of the region, investing $300 million in the process.
The National Insurance Institute (INS by its initials in Spanish) intends to be the majority shareholder or acquire 100% of a company with regional presence, a project suspended in 2009 when the company faced opposition from institutions such as the Comptroller General of the Republic, the Pensions Superintendency and the Attorney General's Office.
The National Insurance Institute of Costa Rica plans to buy a company in Panama as the first stage in its regional expansion strategy.
Guillermo Constenla, chief executive of the company, said that the company has assets of $1.05 billion and has ease and capacity to invest. As an example Constenla indicated that the INS has invested $1.867 billion in "the most important banks" in Costa Rica.
The CEO of the National Insurance Institute of Costa Rica, accepted in a parliamentary hearing that he put political conditions on officers to be reinstated.
A statement by the Legislative Assembly of Costa Rica reads:
HEAD OF INS ACCEPTS HAVING PRESSURED INSURANCE AGENTS
Guillermo Constenla Umaña, CEO of the National Insurance Institute (INS in Spanish), agreed today in front of ministers to look into the finances of the Social Security Department (CCSS in Spanish) that "placed conditions" on agents that they withdraw support for the bill , forcing the INS to rehire them.
In Costa Rica, areas with adequate dimensions, location and logistical services are still unable to meet demand.
Companies like Distribuidora Dipo, Durman Esquivel, Importer Monge, Walmart and Group Constenla have invested in their own logistics centers, because of the low supply of logistics parks in the country.
The institution said it will invest a total of $270 million during 2012, mainly in the construction of a Trauma Hospital and IT modernization.
These initiatives were conceived in 2007 when the institution outlined its Integrated Plan for Competitiveness, said William Constenla, CEO of the Instituto Costarricense de Seguros (INS).
The Trauma Hospital, which will specialize in the treatment of accidents, is scheduled to be ready in June 2013, and will have 220 beds and eight operating rooms on five levels, and will employ about 400 people.
Those who hold some form of insurance policy will be able to access the specialized offices offering consumer rights through their current insurance companies, which will begin to implement this measure soon.
Besides the option of buying a Nicaraguan Insurer to enter the market in that country, the National Insurance Institute (INS) has also analyzed the option of settling directly in Nicaragua through the INS International brand.
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