Reinsurance News
Latin America
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
Allianz (AGCS) recruits CEO for South America from Zurich
17th July 2019
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group, has announced the appointment of Glaucia Smithson as Chief Executive Officer (CEO) of South America. From August 12th, Smithson will succeed outgoing regional leader Angelo Colomo, who is due to leave AGCS in the Autumn. Based in São ... Read the full article
Moody’s turns negative on Argentine re/insurers
17th July 2019
Moody’s Latin America Agente de Calificación de Riesgo S.A has downgraded its outlook from stable to negative for the global local currency (GLC) insurance financial strength (IFS) ratings of 13 re/insurers and 6 financial guarantors in Argentina. The rating action follows Moody’s outlook change from stable to negative on Argentina’s B2 ... Read the full article
Swiss Re Corp. Solutions hires new CEO LatAm from Allianz
24th April 2019
Swiss Re Corporate Solutions has announced the appointment of Angelo Colombo as Chief Executive Officer (CEO) of Latin America Swiss Re Corporate Solutions, effective 7 October 2019. As CEO, Colombo will be responsible for managing the company’s commercial insurance business in Latin America. He has more than 20 years of experience, and ... Read the full article
Axon Underwriting expands into LatAm with launch of reinsurer, Axon Re
23rd April 2019
Axon Underwriting Services LLC has announced the establishment of Axon Re, launched to expand the firm's cargo and stock throughput reinsurance program across Latin America. The new reinsurance unit is to provide both facultative and treaty reinsurance protection for cargo and stock throughput risks, and also for property and environmental lines ... Read the full article
Marsh, Guy Carpenter, JLT combine LatAm facultative reinsurance
23rd April 2019
It's been announced that Marsh and Guy Carpenter will combine their Latin American facultative reinsurance operations with those of JLT Group, following the completed acquisition of JLT by Marsh & McLennan Companies (MMC) on April 1st, 2019. The combined operations will be called Carpenter Marsh Fac Re, and will be ... Read the full article
ConsiliumRe to strengthen LatAm ties with Miami expansion
17th January 2019
ConsiliumRe, the international facultative division of Direct Insurance Group, has announced that it plans to expand its operations into Miami in order to better service the Latin American market. The London-based broker explained that the expansion would build on the significant traction that it has gained in the LatAm region since ... Read the full article
AFL launches joint South America venture with Special Division
29th November 2018
Independent Lloyd’s broker AFL Insurance Brokers Ltd has launched AFL Sud America LLC as part of a joint venture with Special Division Reinsurance Brokers, one of the largest reinsurance brokers in South America. The business was formed after AFL acquired a stake in Special Division’s Cooper Gay Argentina LLC business, which ... Read the full article
Charles Taylor acquires FGR Group in Latin America expansion
5th October 2018
Charles Taylor Adjusting has announced the acquisition of Chile-based loss adjusting and claims program management group FGR, a move that extends its presence across Latin America. FGR provides specialist technical loss adjusting and claims program management services, employing around 385 people in 17 locations in Chile and Peru. The loss adjusting business ... Read the full article
Argo appoints Manuel Moreno to new Latin America underwriter role
23rd July 2018
Global specialty re/insurer Argo Group International Holdings has announced the appointment of Manuel Moreno to the newly created position of Chief Underwriting Officer of Latin America, effective immediately. The new role includes responsibility over the strategy and execution of all underwriting operations in the region and will see Moreno report to ... Read the full article
Coface names Swiss Re’s Carmina Abad Sánchez as CEO for Latin America
17th July 2018
Credit insurer Coface has appointed Carmina Abad Sánchez, formerly of Swiss Re, as its new Chief Executive Officer (CEO) for the Latin America Region. Sánchez has more than 30 years’ experience holding senior leadership positions in the re/insurance industry, and most recently served as Chairman of Swiss Re Group in Mexico ... Read the full article
Swiss Re Corporate Solutions approved to operate in Mexico
2nd March 2018
Global reinsurer Swiss Re's newly licensed Mexico City branch, Swiss Re Corporate Solutions México Seguros S.A. de C.V., began operations on January 2nd 2018 after receiving formal authorization from local insurance authorities. The Mexico branch will offer multi-line insurance cover to mid-sized and large companies and government entities through agents and ... Read the full article
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