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As reported previously in this space, Costa Rica’s Instituto Nacional de Seguros’ international expansion plans were put on hold in May 2009 when the nation’s Comptroller General took the position that the INS was empowered only to partner with, not acquire or establish, foreign companies
Eduardo Nakao, the CEO of IRB-Brasil Re, the government-controlled former reinsurance monopoly holder, recently acknowledged that the IRB’s reinsurance prices have hit a nine-year low and reportedly attributed the decline to increased competition from foreign reinsurance competitors
