The National Insurance Institute (INS) plans to buy a Panama company, to launch the re-positioning of the institution in Central America. This was announced by the CEO of INS, Guillermo Constenla, stating that $ 300 million is slated for investment.
Constenla said that, “The INS has assets of $ 1,050 million. The INS can easily invest $ 1.867 million and has invested here in Costa Rica in the largest banks.”
The manager reported that the process started since 2007, but the procedures have become quite drawn out.
Constenla said that despite the delay in the proceedings and the potential loss of opportunities, the project continued.
Constenla preferred to keep the name of the company which will acquire the INS secret, to avoid interference with ongoing negotiations. “The people that we have been asked negotiate confidentiality because when you feed the rumor that you will buy the U.S. company AIG, then the market shares of AIG start moving by speculation, begin to grow,”
The Costa Rica News (TCRN)
San Jose Costa Rica
