INS Will Compete Outside of Costa Rica

The state-owned Costa Rican insurer will be able to market all its products abroad, after receiving approval by the Comptroller's Office.

Friday, August 14, 2009

Guillermo Constela, executive president of the entity, informed that they will first expand in the Central American market, specially Panama.

Further comments by Constela were published in "The National Insurance Institute (INS), will compete through strategic alliances or purchasing already established companies..."

More on this topic

Costa Rica’s Insurance Market

October 2011

In the newly privatised insurance market, companies are competing with the National Insurance Institute (INS in Spanish) to increase their portfolios.

Last June, according to the premium income figures, registered insurance lines and assets, INS was first, followed by Assa and Alico with its life and health insurance lines.

Chamber of Commerce to Sell INS Insurance

August 2011

The Costa Rican Chamber of Commerce will sell ‘autoexpedibles’ (self-issuing) insurance policies from the National Insurance Institute (INS).

The Chamber, through the alliance, will offer these insurance policies, which do not require any special study to be conducted, said William Constela, CEO of the INS.

INS Cannot Buy Insurance Companies Abroad

May 2009

The Comptroller General ruled that the National Insurance Institute can form a partnership with companies outside Costa Rica but not own them.

The subsidiary set up by the INS to operate outside the country, INS International SA, had already allocated funds to implement a plan that involved purchasing at least one company in each of the countries in the region to market insurance.

Costa Rica's state insurer to compete in the region

June 2008

Costa Rica's state insurer, Instituto de Seguros de Costa Rica (INS), could sell insurance in other countries by creating a corporation.

The Constitutional Chamber has cleared the way legally for INS to sell its services abroad.
This has reawakened plans for the insurer to expand into Nicaragua and Panama, which it proposed as early as last Decmber.

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Mapfre Seguros Costa Rica

Organization that operates in Costa Rica.
Phone: (506) 2010-3000

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