The State Insurance Bank (Spanish: Banco de Seguros del Estado, acronym BSE) is a government-owned insurance company in Uruguay. 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. It is an Autonomous State Entity with commercial and social purposes, as a state-owned enterprise with high decentralization. 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. 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. More information...
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