Due to the possibility of a government default on some $2 billion in debt service due July 1, Puerto Rico credit unions confirmed they have enough financial capacity to face the situation, with $486 million in reserves to face possible investment losses.
Twenty eight proposals from local entrepreneurs were chosen the winners of the first edition of Popular Inc.’s “StartUp Popular” initiative, which seeks to promote entrepreneurship and the economic development of Puerto Rico, bank officials said Wednesday.
Following the success achieved with auto accident insurance firm Point Guard, the founding trio of entrepreneurs are now launching Puerto Rico Home Insurance, offering the only local home insurance policy that reimburses consumers 20 percent of their annual premium if they have no claims during the coverage year.
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