Reinsurance News
Latin America
Potential end of low protest activity in Latin America, says Chaucer
4th November 2024
According to Chaucer, a specialty re/insurance group, the current period of significantly low political protests and demonstrations in Latin America may be coming to an end. Data indicates that the number of protests in the region decreased by 26.3% over the past year, dropping from 28,000 to 20,690 between April 30, ... Read the full article
Lockton secures regulatory approval for Colombian reinsurance operations
19th September 2024
Privately held insurance brokerage firm Lockton has entered the Colombian reinsurance market as it has received regulatory approval to operate a reinsurance brokerage business in the country. The new venture is expected to bring numerous benefits to the broker’s clients, including access to a broader range of reinsurance products, enhanced risk ... Read the full article
WRMS targets greater climate resilience with expansion into Latin American markets
13th September 2024
Weather Risk Management Services (WRMS), the agriculture and climate risk management firm, is expanding its operation to key markets in Latin America as it works to bring climate resilience for sustainable growth within the region. The strategic expansion will focus on Argentina, Paraguay, Colombia, Brazil, Chile, Ecuador, Peru, Uruguay, and all ... Read the full article
Redline Underwriting reveals property facultative reinsurance solution for LatAm
28th August 2024
Redline Underwriting has unveiled a new comprehensive property facultative reinsurance solution targeting Commercial and Industrial Property risks across Mexico, Central, and South America, and the Caribbean. Adriana Cisneros, who will lead the new offering as Head of Underwriting, commented, "This journey has been remarkable, characterized by intensive strategy sessions, remote and ... Read the full article
LatAm reinsurers benefit from GDP growth, but additional capacity will be necessary: AM Best
27th August 2024
Reinsurers operating in Latin America are continuing to benefit from the region's GDP growth, however, according to ratings agency AM Best, the impact of 2023's Hurricane Otis "highlights the need for additional capacity." In October, Otis made landfall near Acapulco, Mexico as a category-5 hurricane, and went on to become the ... Read the full article
Hurricane Season Spurs Automation & Exposure Management Advancements in LatAm: Pro Global
31st July 2024
With the 2024 hurricane season in full effect, this time of the year is always interesting for the re/insurance industry due to the number of opportunities and challenges it poses for many different countries/regions. Reinsurance News recently spoke to Martin Smith, President of Pro Global, Latin America (LatAm) about some of ... Read the full article
Marilena Rodriguez Forero to lead newly launched DUAL Latin America
23rd July 2024
DUAL, the specialist underwriting arm of Howden Group Holdings, has announced the appointment of Marilena Rodriguez Forero as CEO for its newly established region, DUAL Latin America, effective 1 August 2024. Rodriguez Forero brings over three decades of industry experience and joins DUAL from AXA where she served as P&C Underwriting ... Read the full article
Ramirez becomes McLarens Latin America MD with Garzon as the region SVP Group Operations
18th July 2024
Global claims services provider McLarens has announced the appointment of Felipe Ramirez as Managing Director of the McLarens Latin America, and Leo Garzon as Senior Vice President, Group Operation, Latin America, a new global role. In his new role as MD, Ramirez will be responsible for the strategy, direction, and overall ... Read the full article
Insurtech funding in LatAm falls to historic low at $26m in H124
16th July 2024
Insurtech funding in Latin America (LatAm) fell to a historic low of $26 million during the first half of 2024, marking a 78% decline from the same period in 2023. Looking at the period between July 2023 - June 2024, inclusively, the total rose to $43 million, marking the lowest figure ... Read the full article
inDrive teams up with MIC Global for driver accident and medical coverage
25th June 2024
MIC Global (MIC), a provider of comprehensive embedded micro insurance solutions, is teaming up with inDrive, an international platform specialising in mobility and urban services, as well as local insurers. Their goal is to introduce advanced micro insurance options to inDrive drivers and passengers globally, starting in Latin America. These offerings will ... Read the full article
Lloyd’s new Miami office to strengthen Latin America and Caribbean business
5th June 2024
Global re/insurance marketplace, Lloyd’s has announced the opening of a new office in Miami, a move that is designed to strengthen its Latin America and Caribbean business. The new office, which will open from 1 September 2024, will enable Lloyd’s to realign its resources to centrally support brokers, coverholders and managing ... Read the full article
Lockton CCA launches region’s first Food, Agriculture & Beverage insurance broking practice
22nd May 2024
Lockton Caribbean & Central America (CCA) has launched the region’s first Food, Agriculture & Beverage (CCA FAB) insurance broking practice. The new Food, Agriculture & Beverage practice within Lockton CCA, the Miami-based wholesale re/insurance operation focused on the region, within Lockton's Latin America and Caribbean Insurance Services Series (LACIS). Working as a ... Read the full article
Insurance alone cannot protect LatAm from El Niño & La Niña disruption: Swiss Re
13th May 2024
To increase resilience, both adaptation and mitigation are needed in Latin America as insurance alone cannot help protect the region from disruption caused by severe weather events brought by El Niño and La Niña, which will also test the long-standing protection gaps, the Swiss Re Institute states. Weather projections suggest a ... Read the full article
MS Reinsurance eyes strategic expansion in LatAm: CUO (Americas), Segonzac
11th March 2024
In a recent interview with Reinsurance News, Louis de Segonzac, Chief Underwriting Officer (Americas) at MS Reinsurance, discussed the company's strategic focus on expanding its presence in the Latin America (LatAm) market. Segonzac explained that MS Reinsurance maintains a healthy appetite for business in the region, and intends to increase participation ... Read the full article
S&P expects LatAm insurers to face a challenging economic outlook in 2024
26th February 2024
According to S&P Global Ratings' latest analysis of the Latin American (LatAm) insurance landscape, the forecast for 2024 suggests a challenging economic outlook due to an anticipated slowdown in global economic growth. S&P predicts slower growth in the U.S., a significant concern given its strong economic ties with LatAm countries, particularly ... Read the full article
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