Silvia Canales Coto

Silvia Canales Coto
EscazĂș, del Restaurante Tony Romas
600m. al oeste
San José
Costa Rica
+506 22573553


Who's Who Legal Central America - Insurance & Reinsurance

Silvia Canales is partner at Consortium Legal – Costa Rica and is the head of the regulatory compliance department and the insurance practice. She has more than 15 years of experience in financial market supervision, including the position of legal adviser in the administrative department and in the national treasury of the Ministry of Finance. She has considerable experience in both the compliance and insurance areas, as she was the intendent of the Insurance General Superintendence for the last three years.

Since 2009 she was the legal director of the aforementioned Superintendence, and before that she held the same position in the Pensions General Superintendence in 2003, leading authorisation, regulation and supervision processes in financial markets, from a legal point of view. She has also been legal counsel for the president of the International Association of Pension Funds Supervisory Organism and to the negotiating committee of the collective labour agreement of the Costa Rican Central Bank, representing the employers. With the opening of the Costa Rican insurance market, Ms Canales acted as evaluator in pair review exercises for different Latin American countries, in accordance with the principles of the Association of Latin American Insurance Supervisors (ASSAL) and the International Association of Insurance Supervisors (IAIS). Additionally, she validated postulations from member countries for the execution of memorandums of understanding for the exchange of information among such countries.

Ms Canales represented Costa Rica in the OECD insurance and private pensions committee and has also participated in multiple local and international forums regarding insurance and risk-based supervision (RBS), which is gradually becoming the dominant approach to regulatory supervision of financial institutions around the world.

She speaks Spanish and English.

WWL says: Silvia Canales Coto is extremely well known for her broad industry knowledge and first-rate work in the space.

This biography is an extract from Who's Who Legal: Central America which can be purchased from our Shop.

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