Reinsurance News
Latin America
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
Latin American protectionism could threaten re/insurance growth prospects: Carnegie-Brown
16th February 2018
Despite Latin American market conditions of low insurance penetration and strong economic growth being favourable for an upsurge of re/insurance demand, the region's protectionist stance could put a damper on efficient risk transfer and consequently hinder socio-economic development, Lloyd's chairman Carnegie-Brown warned at a recent Lloyd’s Meet the Market event in Miami. Carnegie-Brown ... Read the full article
Pioneer establishes Latin America hub, names four new regional SVPs
8th January 2018
Pioneer Underwriters has launched its regional hub in Latin America and announced the hiring of four insurance and reinsurance industry professionals as Senior Vice Presidents (SVP), based in Mexico City. Complementary to the firm's global facultative underwriting operations in London, Pioneer Underwriters has announced the establishment of its Latin America hub ... Read the full article
Andre Lopes joins Cunningham Lindsey as Director, Brazil
14th December 2017
Cunningham Lindsey has announced that Andre Lopes will join the firm's Brazilian operations as Director from Crawford & Company, where he was Brazil Chief Executive Officer (CEO). The global loss adjuster views Brazil as a key growth area, and it currently operates across the country from offices in Rio de Janeiro ... Read the full article
LatAm reinsurers challenged by shrinking profits but ratings remain stable: Fitch
10th August 2017
Latin American reinsurers appear set to see their profitability challenged over the next 1-2 years, the global soft market, contracting local economies, high interest rates, risk-based capital solvency regulations and sovereign-constrained ratings, are among many factors making conditions increasingly difficult for regional carriers. Despite these challenges, Fitch’s rating for LatAm reinsurers ... Read the full article
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