Costa Rica's insurance market has seen strong growth after opening up to private competition in 2008.
Mandatory traffic accident insurance in Colombia known as Soat saw a surge of frauds in 2015 that hit insurance companies' profits.
Payouts exceeded the volume of premiums issued in Brazil's credit insurance market last year and the year before.
The economy expanded in January after contracting for most of last year.
The licence enables Lloyd's Underwriters and Lloyd's coverholders to carry out reinsurance business in accordance with the country's regulations on Reinsurance, Fronting and Co-insurance for Nicaragua, said the company in a press release.
The currency has seen its best weeks since the US election and fuel prices appear to be levelling off for now. Nevertheless, most economists see the bank set for yet another hike with more to come in 2017.
Last week the government denied it was looking at reinstating the financial transaction tax known as CPMF as it seeks additional revenue to meet its 2017 fiscal target.