Reinsurance News
Latin America
MLTPLY launches insurtech startup Proxima
23rd September 2022
MLTPLY has announced the launch of Proxima, an insurtech startup that offers insurance companies software to develop and support its staff and expand IT, customer service, sales, underwriting and claims capabilities. Proxima currently operates in Latin America and the US, providing staff augmentation resources in underwriting and technology verticals. The company ... Read the full article
Social unrest rises in LatAm due to inflation and economic stress caused by COVID: Chaucer
11th August 2022
Businesses “must think carefully about protecting themselves from a likely increase in damage” caused by growing social unrest in Latin America, mainly driven by inflation on top of the economic and social stress initially caused by COVID, said Chaucer. According to a new analysis by the re/insurer, the number of protests ... Read the full article
UIB targets LatAm growth with property team hires
2nd August 2022
International re/insurance broker UIB has announced the appointments of Angel Martinez Roig and Deborah Martinez Ojeda to its expanding Property team with a particular focus on growth within the Latin American marketplace. Based in UIB’s London office, they join existing team member Carlos Rueda, reporting to Julian Ball, UIB’s Co Head ... Read the full article
Stere expands into LatAm insurance market
28th June 2022
Digital insurance ecosystem Stere has expanded its operations to the Latin America insurance market, the company announced. Based in Brazil Stere has said it will use its new presence to serve regional embedded and affinity clients such as tech platforms, banks, online marketplaces, superapps, and member-based organisations. Stere has entered the market ... Read the full article
Everest Insurance expands into Latin America, opens in Chile
30th May 2022
Everest Insurance has entered the Latin American market after receiving approval from the Commission for the Financial Market (CMF) to operate in Chile under the name Everest Compañía de Seguros Generales (General Insurance Company), Chile S.A. Senior Vice President and Regional President of Latin America, Everest Insurance, Pablo Korze will lead ... Read the full article
Swiss Re invests in Klimber as pair look to boost LatAm insurance penetration
10th February 2022
Reinsurance giant Swiss Re has announced an investment to lead the pre-series A funding round for Klimber Latam Corp, a developer of digital insurance products in the region. In 2018, Klimber created the first digital life insurance offering in Latin America through its end-to-end platform. The investment from Swiss Re provides the ... Read the full article
Pandemic triggers 12% contraction in LatAm market, MAPFRE finds
31st December 2021
The Latin American insurance market registered an 11.9% decrease in premiums during the year of the pandemic, to $134.4 billion, according to new data from MAPFRE. Of the total premium figure, 57% came from non-life insurance and the remaining 43% from life insurance, MAPFRE reported. The sector’s contraction was caused mainly by ... Read the full article
Colombian protests could trigger higher LatAm reinsurance rates: Fitch
15th June 2021
Analysts at Fitch Ratings have warned that Colombian insurers may face an impact to their loss ratios and overall financial performance due to social protests over the last month that have caused damage to property. Fitch expects a moderate deterioration in profitability but does not expect these events to lead to ... Read the full article
Oneglobal appoints Nicolau Daudt as CEO of Latin America
17th May 2021
Oneglobal Broking, the commercial re/insurance brokerage owned by investor JC Flowers, has announced the appointment of Nicolau Daudt as CEO for Latin America. In this role, Daudt will help to build out Oneglobal’s re/insurance capability in key Latin American markets, taking on responsibility for all countries outside of Brazil. Most recently, he ... Read the full article
Deutsche Rück hires Kummer to lead LatAm expansion
11th February 2021
German reinsurer Deutsche Rückversicherung AG (Deutsche Rück) has announced plans to start writing business in Latin America, with a focus on traditional property and casualty business. As part of this expansion, the Düsseldorf-based firm has appointed Florian Kummer as Head of Latin American Markets, effective from 1 December 2020. Kummer has 25 ... Read the full article
Latin America recession to delay regional insurance growth: S&P
7th September 2020
Rating agency, S&P Global Ratings has commented on Latin America’s 2020 recession, claiming its likely weak recovery will pressure regional insurers' operating conditions. They expect a contraction in gross written premiums (GWP) in 2020 and moderate growth in 2021, whilst also expecting net profits to reach the 2019 levels only in ... Read the full article
Economic rebound in Latin America could spur re/insurance markets: AM Best
4th March 2020
Analysts at AM Best expect economic and political risks to subside in Latin America over 2020, which should help the re/insurance markets in these countries to better realise their growth potential. The rating agency noted that the Latin America region is coming off two years of low growth and headwinds due ... Read the full article
PCS rolls outs industry loss and index services in LatAm
3rd March 2020
Property Claim Services (PCS), a Verisk Analytics business, has expanded its industry loss index coverage to the Latin America region four months ahead of schedule. The firm explained that the 2019 riots in Chile led to significant insurance and reinsurance activity in the LatAm region, leading to a boost in demand ... Read the full article
Swiss Re names Kaspar Mueller as President of Reinsurance, LatAm
21st October 2019
Global reinsurer Swiss Re has announced the appointment of Kaspar Mueller as President of Reinsurance for Latin America, effective November 1, 2019. Mueller currently works for Swiss Re as Chief Operating Officer (COO) of Reinsurance, and has spent a total of 13 years with the company. In his new Miami-based role, he ... Read the full article
LatAm reinsurance market improves technical performance: Fitch
13th August 2019
With an absence of high catastrophe insured losses in 2018, Fitch analysts say its rated reinsurers in Latin America registered an overall improvement in technical profitability. Despite some claims from 2017 events still having been paid during 2018, the combined ratio for LatAm reinsurers was registered at 97.5% at YE 2018, ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
