Reinsurance News
Latin America
GNP Seguros names Alejandro Padilla Head of Reinsurance
5th December 2022
Mexico-based insurer Grupo Nacional Provincial (GNP), has appointed Alejandro Padilla Mariscal as Head of Reinsurance. GNP Seguros is one of the largest insurers in Mexico providing insurance policies that cover life, damage and accidents among others. In addition, the company is also active in the provision of reinsurance services. Padilla Mariscal has ... Read the full article
Aon acquires ERN to drive cat modeling & consultancy in LatAm
9th November 2022
Global professional services firm, Aon, has acquired ERN (Evaluación de Riesgos Naturales), a Mexico-based leader in risk assessment modeling. The acquisition will help drive and expand Aon’s catastrophe modeling and consultancy capabilities in Latin America. Founded in 1996, ERN has developed modeling capabilities that are specific to Latin America and backed by ... Read the full article
Infrastructure projects the biggest opportunity in LatAm, says Lloyd’s head
13th October 2022
Despite geopolitical and economic challenges putting some businesses off investing in Latin America, Daniel Revilla, Lloyd’s regional head of Latin America and the Caribbean (LAC), sees plentiful opportunities for underwriters and brokers with specialist expertise and an appetite for risk. ”Infrastructure investment is where I see the biggest opportunity for Lloyd’s,” ... Read the full article
Scarcity of large cats in LatAm helped insurers while pricing under pressure: AM Best
10th October 2022
A new report from AM Best says that the low number of large-severity catastrophe events in Latin America over the last three years has helped reinsurers in the region, even while pricing and claims costs are under pressure due to high inflation. The firm said in its report, Limited Claims Activity ... Read the full article
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
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.
