HSBC To Sell INS
Products
Costa Rica's state
insurer, the Instituto
Nacional de Seguros
(INS) and the
London-based HSBC unit
in Costa Rica have
signed an agreement
under which the bank
will sell INS insurance
products, INS said
in a press release.
Starting in January,
Banco HSBC Costa Rica
will sell INS life
insurance policies which
are especially suitable
for being distributed
through the
bancassurance channel,
an INS spokesperson
said.
These life products are
one of the 17 types of
insurance policies which
INS has designed for
being distributed
through financial
institutions, the
official said.
Banco HSBC already sells
some INS products,
including credit card
insurance, according to
the spokesperson.
One of INS's goals for
the next few years is to
significantly grow the
share of life and health
insurance premiums of
total premiums,
Guillermo Constenla,
executive president of
the INS had said earlier
this year.
Life premiums accounted
for 11% of the us$506
million in
premiums reported by INS
in 2007, according to
the institution's
financial statements.
Banco HSBC, which has
some 200,000 clients,
will sell INS products
through the bank's
38-branch network. |
