INS Again
Looks Outside of Costa Rica, This Time With
Approval
Costa Rica's state insurer, the Instituto
Nacional de Seguros (INS) is again looking
beyond Costa Rica' borders as it revives its
plans for international expansion.
This is not the first time that the INS has
been looking to expand. This time, however,
it has received the green light from the
Contraloría General de la República
(Comptroller's office), the INS said in a
statement.
The last time around the INS put its
international expansion plan on hold, when
in May the Contraloría objected to
INS's acquisition of a Nicaraguan insurer,
arguing INS was legally unable to acquire
insurance companies abroad.
The Contraloría's decision contradicted a
resolution issued by the country's
constitutional court in 2008.
Since May INS has worked on addressing this
issue with the comptroller general, which
finally reversed the May resolution.
The statement did not offer details on what
INS's expansion plans include, nor if it
will revive plans for the purchase of the
Nicaraguan insurer. |
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