Latin America

HDI builds footprint in Brazil with acquisition of Sompo’s retail business

Talanx-owned HDI International AG is strengthening its operations in Brazil through the acquisition of the retail business of Sompo Seguros S.A.

Mapfre named in Peru’s $4.5bn suit against Repsol over oil spill

Insurer Mapfre has been named in a $4.5bn lawsuit filed by the Peruvian government against Spanish energy giant Repsol over a January oil spill that ravaged the country’s coastline.

IRB Brasil Re swings to underwriting loss of R$96.4mn as crop claims surge

IRB Brasil Re has posted a combined ratio of 118.6 percent for the first quarter of 2022, a 17.8 percentage point deterioration year on year.

Helvetia bolsters LatAm team with fac specialist Giralt

Helvetia has strengthened its Latin America-focused facultative capabilities with the hire of John Giralt from MGA Solis Re, The Insurer can reveal.

Aon shuffles LatAm reinsurance leadership amid Hussey promotion

Aon’s Latin American reinsurance business has handed new roles to Jaime Pineda and Alejandro Gregory in a reshuffle that also follows Eduardo Hussey being appointed regional head of facultative, a move first revealed by The Insurer on Tuesday.

New Aon hire Hussey promoted to head of LatAm fac unit

Newly arrived Miami-based Aon executive Eddie Hussey has been promoted to lead its facultative reinsurance broking operations in Latin America, The Insurer can reveal.

Lloyd’s promotes Hernandez to Central America market development manager

Lloyd’s has promoted Mexico country manager Yelhis Hernandez to the role of market development manager across Central America.

Aon appoints Ferreira as LatAm Reinsurance Solutions CEO

Aon has appointed Paula Ferreira as Latin America CEO for its Reinsurance Solutions unit.

HDI Global Mexico hires Chubb’s Lizaola as MD

HDI Global Mexico has recruited Chubb veteran Omar Mendoza Lizaola as its new managing director as German Cardenas moves up to executive operations director.

Rokstone launches in Latin America

International specialty (re)insurance MGA Rokstone, part of the Aventum Group, has announced it has launched in Latin America.

GMX under AM Best review amid reinsurance doubts over Metro loss

AM Best has placed Grupo Mexicano de Seguros (GMX)’s ratings under review with negative implications amid ongoing concerns regarding its exposure to a “significant claim” made by Mexico City’s subway system, with local reports claiming the carrier’s reinsurance coverage behind that program was only partially placed.

Lloyd’s eyes LatAm partnerships to navigate systemic risk challenges

Lloyd’s wants to work with the Latin America and the Caribbean (LAC) (re)insurance market to strengthen knowledge and resilience to systemic risks and support what council member John Sununu said will be a “bolder, brighter” future for the region.

Argo completes sale of Brazilian business to Spice PE

Argo has completed the BRL160mn ($31mn) sale of its Brazilian operation to Spice Private Equity in the latest move made by the Bermuda-headquartered (re)insurer as it focuses on the US specialty market.

Oneglobal names De Lima to lead Andean region

Oneglobal Broking has appointed Arthur J Gallagher’s Ernesto de Lima as CEO for the Andean region.

Swiss Re makes investment in LatAm insurtech Klimber and eyes L&H drive

Swiss Re has made a minority investment in insurtech digital platform Klimber Latam Corp as the reinsurer looks to grow in Latin America’s life and health insurance markets and replicate its strategy of supporting digital businesses in other regions around the world.

Carpenter Marsh Fac names Coria as Miami chair

Carpenter Marsh Fac has made further management changes with Marcelo Coria named regional market leader and chairman of the unit’s Miami hub.

BMS Re names Carpenter Marsh’s Gomez LatAm EVP

BMS Re has appointed former Carpenter Marsh Fac deputy CEO Juan Carlos Gomez as executive vice president of BMS Re Latin America & Caribbean, effective immediately.

LatAm non-life premiums dropped 6.1% in 2020

The Latin American non-life insurance market registered a 6.1 percent drop in premiums during 2020 as a result of the pandemic and currency depreciation, according to new figures from Mapfre.

Carpenter Marsh Fac names Mazzocchetti Miami CEO

Marsh McLennan’s Latin America-focused facultative reinsurance operation has named Marcela Mazzocchetti as CEO for its Miami-based operation, The Insurer has learned.

AM Best notes IRB’s strategic changes but maintains negative outlook

AM Best has maintained a negative outlook on IRB-Brasil Resseguros’ A- financial strength rating, with the rating agency highlighting its loss-impacted operating performance despite recent operational and structural improvements.

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