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Banco de Seguros del Estado

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State Insurance Bank
Native name
Banco de Seguros del Estado
Company typeState-owned insurance company (Autonomous State Entity)
FoundedDecember 27, 1911; 112 years ago (1911-12-27)
Key people
José Amorín Batlle (president)
Websitewww.bse.com.uy

The State Insurance Bank (Spanish: Banco de Seguros del Estado, acronym BSE) is a Uruguayan government-owned insurance company that provides insurance in Uruguay.[1] Established on 27 December 1911, it operates under the Ministry of Economy and Finance, and is controlled by the Court of Accounts and the Central Bank.[2] It is an Autonomous State Entity with commercial and social purposes, as a state-owned enterprise with high decentralization.[3]

History

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The State Insurance Bank was created on December 27, 1911, by Law No. 3,935, within the framework of the statist reforms carried out by President José Batlle y Ordoñez.[4][5] The objective of the nationalization was that the profits from the market would remain in the country, since none of the insurance companies that operated in the territory were Uruguayan.[6]

BSE Hospital in Montevideo

In 1951, the Sanatorium of the State Insurance Bank was inaugurated, a public hospital center dependent on the entity, and dedicated to the direct attention to work-related accidents and illnesses.[7] In 2018, a new building located in barrio Bolívar was inaugurated.[8] The hospital's medical care is nationwide, specializing in the treatment of amputated limbs, spinal cord injuries, severe multiple injuries, and traumatic brain injuries.

In 1993, through Law No. 16,426 insurances were demonopolized —except in the case of workplace accidents—, and a process of deregulation began in a market open to access by foreign companies.[9]

Headquarters

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The main offices of the Bank are located in the building located at the intersection of Libertador Avenue and Mercedes Street. Designed by Ítalo Dighiero and Beltrán Arbeleche in a modernist style, it was inaugurated in 1940.[10]

References

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  1. ^ "Banco de Seguros del Estado - Diretório de Serviço ao Investidor". XXI (in Portuguese). www.areaw3.com. Retrieved 2023-03-04.
  2. ^ "Ficha: Banco de Seguros del Estado". Universidad ORT. Retrieved 24 September 2019.[permanent dead link‍]
  3. ^ "Banco de Seguros del Estado - BSE" (PDF).
  4. ^ "Las reformas económicas del Batllismo - Biblioteca Plan Ceibal" (PDF). 2018-09-21. Archived from the original (PDF) on 2018-09-21. Retrieved 2023-03-04.
  5. ^ "Ley N° 18243". www.impo.com.uy. Retrieved 2023-03-04.
  6. ^ "BSE - ¿Quiénes Somos?". 2022-12-02. Archived from the original on 2022-12-02. Retrieved 2023-03-04.
  7. ^ "Historia del HOSPITAL BSE". Archived from the original on 2022-10-06. Retrieved 2023-03-05.
  8. ^ "Presidente Vázquez inauguró hospital del Banco de Seguros del Estado, que posee tecnología única en América del Sur - Presidencia de la República". 2019-09-24. Archived from the original on 2019-09-24. Retrieved 2023-03-04.
  9. ^ "Ley N° 16426". www.impo.com.uy. Retrieved 2023-03-04.
  10. ^ "BANCO DE SEGUROS DEL ESTADO (BSE) | Montevideo Audiovisual". 2022-06-27. Archived from the original on 2022-06-27. Retrieved 2023-03-05.
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