Latin America

Swiss Re’s Mueller: Latin America providing “good business” despite some challenges

Latin America remains a good source of business for reinsurers, driven by the property market, but growth in the region’s underlying insurance market is expected to slow, according to Kaspar Mueller, president of reinsurance in Latin America at Swiss Re.

IRB Re posts 102% CR as Q3 written premiums top R$2bn

IRB Brasil Re has posted a combined ratio of 102.1 percent for the first nine months of 2024, marking a year-on-year improvement of 7.0 percentage points despite claims arising from extensive flooding in the state of Rio Grande do Sul.

CFC, Lockton partner with Argentinian carbon trading platform to scale regional market

Specialist broker Lockton has partnered with CFC and Argentinian carbon trading platform BACX to complete an exchange-traded insured carbon credit transaction in Latin America, plugged as the first of its kind.

Ongoing LatAm tensions could reverse recent lull in political protests: Chaucer

Ongoing tensions and upcoming elections may signal the end of a more muted period for political protests and other demonstrations in Latin America, Chaucer has warned.

Rivera promoted to CEO of Marsh McLennan LAC

Carlos Rivera has been promoted to CEO of Marsh McLennan Latin America and the Caribbean and president of Marsh LAC, with effect from 1 January 2025.

UK’s ABI and Brazil’s CNseg sign collaboration pact to boost insurance ties and tackle systemic risks

The Association of British Insurers and the Brazilian Insurance Confederation have signed a memorandum of understanding in a move designed to boost cross-collaboration on issues such as climate change and cyber risks.

Axis and Axa XL partially insure “landmark” $1bn securitisation tranche by IDB

Axis and Axa XL have insured part of a $1bn securitisation tranche launched by the investment arm of the Inter-American Development Bank (IDB), designed to support lending capacity for new development projects across Latin America and the Caribbean.

Descartes opens Mexico office with Herrera hire

Parametric specialist Descartes Underwriting has opened a new office in Mexico City and announced the appointment of Francisco Javier Herrera Escalante as country manager, Mexico.

Axa Climate renews parametric marine restoration policies in Mexico and the Philippines

Axa Climate has continued to announce several renewals among its suite of nature-based insurance projects for mangrove restoration and marine ecosystem protection.

Brazil’s deadly floods: the compound impact of El Niño and climate change

Catastrophic flooding in Brazil in April and May was a stark reminder of the compound effect of El Niño and climate change. The unprecedented rainfall – now twice as likely due to global warming – led to devastating flooding across the state of Rio Grande do Sul.

Hurricane Milton track likely missed Mexico’s parametric cat bond trigger zone

Mexico’s World Bank-facilitated catastrophe bond is unlikely to be triggered by Hurricane Milton’s passage close to the Yucatán Peninsula, Parametric Insurer understands.

Axa Climate continues as Mesoamerican Reef Fund capacity provider in fourth annual placement

Axa Climate has been renewed as insurance capacity provider for the fourth annual placement of the Mesoamerican Reef Fund’s insurance programme.

Boxx names Beazley’s Yoast US president as Itriago takes on LatAm role

Cyber Insurtech Boxx Insurance has appointed Christyn Yoast from Beazley USA as president of Boxx USA, taking over from Hilario Itriago, who has been appointed president, Latin America.

Lockton LatAm expansion continues with Colombia reinsurance brokerage

Lockton has been given the regulatory green light to open a reinsurance brokerage in Colombia, with the new platform led by Juan Pablo Uribe who joined from Marsh earlier this year.

Swiss Re appoints Alves as head of fac P&C in LatAm

Swiss Re has tasked Juliana Alves with leading its facultative P&C business in Latin America, with the appointment going into effect from the beginning of October.

Parametric agriculture firm WRMS expands to Latin America

India-based climate risk management company WRMS is expanding its operations into Latin America as it seeks to help the agriculture sector manage and insure weather risks.

Fitch: LatAm reinsurers’ performance to remain strong in ’25 while ceded premiums will increase

Latin American reinsurers will maintain their strong performance in H2 2024 and into 2025, supported by market discipline, according to Fitch Ratings, which expects ceded premiums in the region to continue to grow.

LatAm reinsurance demand growing as opportunities arise in Brazil

As Latin American insurers refine their risk management strategies, AM Best believes their need for reinsurance will grow, while in Brazil the rating agency said a pullback from the country’s largest player – IRB(Re) – is presenting opportunities for other reinsurers.

BMS Re hires Mirabal as LatAm and Caribbean CEO

BMS Re has appointed Anthony Mirabal as CEO of the Latin America and Caribbean division, effective November 2024.

AM Best revises outlook on IRB’s A- rating to stable on improved capitalisation

AM Best has revised the outlook to stable from negative on IRB-Brasil Resseguros’s A- rating following the completion of a capitalisation offer.

Region

Topics

Events & Conferences

Content Types