Latin America

Lloyd’s committed to LatAm growth as regional head prepares for Miami move

Lloyd’s remains open to the Latin American (re)insurance industry despite several of its carriers cutting back from the regional reinsurance hub recently, with chief executive John Neal also confident there is plenty of potential to do more business in the region.

Direct Insurance Group’s ConsiliumRe hires reinsurance head

London’s ConsiliumRe has brought in Christian Warrener from RFIB as its new head of reinsurance, The Insurer has learned.

TransRe’s LatAm and Caribbean CUO departs

TransRe’s Latin America and Caribbean chief underwriting officer Marco Giovane has left the company, The Insurer can reveal.

Korean Re to launch Colombia branch in LatAm push

Korean Re is set to launch a branch office in Bogotá, Colombia following approval from the regulatory authorities as the Seoul-headquartered carrier looks to further diversify into the Latin American markets.

THB hires reinsurance president in Brazil

THB has hired Paulo Esteves Viveiro as reinsurance president in its expansive Brazilian operation, The Insurer has learned.

Scor takes majority investment in Brazilian MGA

Scor has added to its involvement in the Brazilian agriculture insurance market after taking a majority investment in AgroBrasil Administração e Participações Ltda.

Liberty Mutual Re adds to Brazilian treaty team

Liberty Mutual Re has bolstered its team in Brazil with the hire of Lucas Pimentel as treaty class underwriter for the southern cone region, The Insurer has learned.

Former Marsh LatAm finpro head establishing new broker

The former head of Marsh FinPro & FI for Latin America is launching a new London-based broker called Amthor Risk Partners which is targeting business from the region.

Neon’s Coleman to head financial lines at Barents Re

London market veteran Andy Coleman is joining Barents Re to head its financial lines portfolio, The Insurer can reveal.

Revisiting the Vale dam loss - one year on

On 25 January it will be one year since one of the worst mining losses in recent years, namely the collapse of the tailings dam at the Vale-operated Córrego do Feijão iron ore mine in Brazil, resulting in the loss of 275 lives.

LatAm’s improving economic climate to boost stagnant premiums: AM Best

AM Best expects Latin America’s economies to rebound in 2020, which would help the insurance markets in these countries better realise their growth potential.

Swiss Re CorSo names Bunin new Mexico CEO

Swiss Re Corporate Solutions has appointed Sergio Bunin as the new chief executive for its operation in Mexico.

BMS appoints former Marsh MD Ceron as LatAm COO

Expansive broker BMS has hired Alejandro Ceron as chief operating officer for its Latin America and Caribbean offices.

Brazil’s reinsurers must improve underwriting profitability: AM Best

AM Best’s outlook for the Brazilian reinsurance market remains negative but the ratings agency believes that conditions are moving in the right direction in the country.

Aon names Galizia LatAm head

Aon has a new leader for its Latin American operations with Alejandro Galizia promoted to the role to replace the departing Fernando Pereira, The Insurer has learned.

Willis Towers Watson makes LatAm expansion bid with Grupo Unity acquisition

Willis Towers Watson is set to strengthen its presence in Latin America after the broker agreed a deal to acquire Panama-based Grupo Unity.

Capacity cuts and losses push LatAm fac pricing at 1.1

Withdrawals of capacity and a series of major losses have made the first of Latin America’s major renewal dates typified by significant pricing changes for facultative business.