Seguros Crefisa SA

Seguros Crefisa SA, a for-profit insurance company headquartered in Tegucigalpa, Honduras, provides life, health, vehicle, and motorcycle insurance coverage to U.S. Department of State personnel and locally employed staff stationed in Honduras as a prime contractor on a portfolio of 77 full-and-open federal awards with no set-aside designations.

The vendor operates exclusively as a prime contractor (100% of recent awards) under three single and multiple-award indefinite delivery vehicles issued by the U.S. Embassy in Tegucigalpa. The largest vehicle is a multiple-award IDC valued at $8 million (awarded June 4, 2023, performance through June 3, 2027) for life and health insurance coverage. Two additional single-award vehicles cover vehicle and motorcycle insurance: one valued at $160,193.04 (awarded December 1, 2023, through November 30, 2025, now succeeded by a new $100,000 IDC awarded December 1, 2025, through November 30, 2026). All contracts employ fixed-price structures with economic price adjustment provisions and carry no subcontractors.

Customer concentration is entirely within the Department of State and its overseas mission infrastructure. The top-five funding entities account for 100% of recent awards, led by the U.S. Embassy in Tegucigalpa (18 awards, $9.3 million combined potential value) and the Bureau of Western Hemisphere Affairs (24 awards, $2 million). The Bureau of International Narcotics Law Enforcement, Bureau of Consular Affairs, and Bureau of Diplomatic Security round out the active set with 13, 13, and 9 awards respectively. Revenue concentration tilts sharply toward the embassy: embassy awards anchor $9.3 million of the $11.9 million portfolio total, while the distributed bureaus account for $2.6 million across 59 awards.

The vendor places task orders almost exclusively under the primary life and health insurance IDC (19H08023D0002), which carries 67 task orders worth $3.3 million in combined potential value. Individual delivery orders under this vehicle range from approximately $9,100 to $162,900 and are issued quarterly to support multiple State Department bureaus and USAID. Recent representative work includes a $162,977 delivery order from the Bureau of Western Hemisphere Affairs (June 1, 2025), a $155,299 delivery order also from that bureau (November 26, 2025), a $153,303 delivery order for locally employed staff health and life insurance under the third option year (May 28, 2026), and multiple smaller orders for specific program and bureau cost-sharing arrangements under the ICASS (International Cooperative Administrative Support Services) and other State Department funding mechanisms.

Activity has declined from a 2024 peak of 27 awards to 6 awards in 2026 year-to-date, reflecting the quarterly and annual delivery-order cadence of the underlying IDVs rather than new vehicle wins. Four awards (combined potential value $290 thousand) reach ultimate completion within the next twenty-four months, primarily representing the wind-down of earlier option-year tranches as the primary IDC transitions to its second multiple-award cycle beyond the June 3, 2027 stated completion date. The vendor invoiced $3.4 million (28% of combined potential value) across the portfolio, indicating partial drawdown against available ceilings. All work is performed in Honduras with administrative oversight from the U.S. Embassy in Tegucigalpa, which serves as the contracting office on behalf of multiple State Department bureaus and USAID.