The Instituto Nacional de Seguros will provide $43 million in insurance for a hydroelectric project in Nicaragua, through reinsurance services.
The Hidropantasma Hydroelectric Project in Jinotega is based on Costa Rican, Panamanian and Honduran capital, and the policy with which the INS will cover it is "All Risks Fire - Dollars".
Costa Rican laws prevent the INS operating across borders.
The National Insurance Institute of Costa Rica is considering the option of buying a domestic company to enter the market in Nicaragua
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.
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.