The dispute, between the Bolivian pension fund manager and the government, will be heard under ICSID's additional facility rules.
The local insurance industry retained approximately 11% of the losses from the catastrophic event that occured last year.
The country's superior court ordered the federal government to increase monthly pensions by 25% for all elderly persons who need help from third parties due to poor health conditions.
The Slovenia-based reinsurer receives authorization to operate in Latin America's third largest economy as licensing costs drop.
Combined, the two companies would have a market share of 6%.
Luiz Carlos Trabuco Cappi had been accused of being involved in an illegal scheme to help the bank avoid paying a major tax fine.