Latin American Developments

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Los mercados latinoamericanos de seguro y reaseguro siguen creciendo para servir las economias dinamicas de la region y la creciente demanda consumidora.  Previamente cerrados a competicion extranjera en los areas de seguro y reaseguro, los paises latinoamericanos siguen liberalizando sus sistemas regulatorios para conformar con los requisitos de acuerdos de comercio libre con los Estados Unidos y Europa y para satisfacer a demandas nacionales para mejores productos y precios. 

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Read More Presentacion Electronica Gratis: Mercados (Re)emergentes: Sucesos Importantes en Los Mercados Latinoamericanos de Seguro y Reaseguro

At 1:21 p.m. local time on January 8, 2008, an earthquake measuring 6.2 on the Richter scale occurred in the Central American country of Costa Rica.  It left 18 people dead, 40 missing and hundreds injured.  The earthquake also caused landslides that blocked a number of roads, displaced approximately 1,200 residents and damaged several hotels and major businesses. …
Read More (Re)emerging Mercados: Significant Recent Developments in the Latin American Insurance and Reinsurance Markets

In its January 12, 2009 edition, Insurance Day identified Brazil, Argentina, Mexico and Venezuela as offering attractive “potential opportunities . . . for insurers looking to expand.”  Brazil has received much media and industry attention over the past year in connection with the opening of its reinsurance market to foreign competition, and has been much discussed in this space (see here). 

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Read More Insurance Day Tags Brazil, Argentina, Mexico and Venezuela as “Markets to Watch in 2009”

Latin American countries are liberalizing their regulatory schemes to conform to the nations’ free trade agreements with Europe and the United States and to satisfy internal demands for better pricing and products.  With economic conditions continuing to deteriorate in many of the world’s largest economies, international companies are taking a closer look at Latin America as a potential alternative market for investment and operations. …
Read More Reminder: Free Webinar on January 21, 2009: (Re)emerging Mercados: Significant Recent Developments in the Latin American Insurance and Reinsurance Markets

Armando Vergilio dos Santos, a representative of the Superintendencia de Seguros Privados (SUSEP), reportedly commented recently that, despite the global financial crisis, the regulator expects 12-15% growth in the Brazilian insurance market in the coming year.  Speaking at a conference in Sao Paolo, Mr. dos Santos reportedly stated “There is no reason, despite the crisis, that we should not remain optimistic. 

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Read More Brazil: Regulator Predicts That Global Financial Crisis Will Not Impede Growth in Nation’s Insurance Market

Qualitas, Mexico’s largest automobile insurer, has reportedly indicated that it is considering expanding its operations into Costa Rica and Panama.  The announcement comes on the heels of Qualitas’ entry into the insurance market in El Salvador at the beginning of December.  Referring to the more than year and a half it took for Qualitas to obtain authorization in El Salvador, company CFO Wilfrido Castillo reportedly commented that the company hopes authorization would come more quickly in Panama and Costa Rica. 

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Read More Costa Rica Roundup: Mexican Auto Insurer Expresses Interest in Market; Tourism Concerns and New Foreign Investment

Latin American countries are liberalizing their regulatory schemes to conform to the nations’ free trade agreements with Europe and the United States and to satisfy internal demands for better pricing and products.  With economic conditions continuing to deteriorate in many of the world’s largest economies, international companies are taking a closer look at Latin America as a potential alternative market for investment and operations. …
Read More Free Webinar: (Re)emerging Mercados: Significant Recent Developments in the Latin American Insurance and Reinsurance Markets

The Instituto Nacional de Seguros (INS), the Costa Rican insurer that previously enjoyed a national monopoly, recently announced the launching of 17 new insurance products and also confirmed its intent to enter each of the other Central American insurance markets in 2009. 

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Read More Costa Rica: INS Announces 17 New Products; Confirms Intent to Enter Other Central American Insurance Markets in 2009

The first Cumbre de Latinoamerica y el Caribe will take place this week outside of Salvador de Bahia, Brazil, with a focus on regional cooperation and integration.  The event will be attended by representatives from the region’s 33 countries and will mark the first time that the leaders of the entire region have come together of their own accord rather than at the initiation of the United States or the European Union. …
Read More Inaugural Latin American and Caribbean Summit to Stress Regional Integration

Four of the companies that have organized under the Puerto Rican International Insurance Center announced recently that they have created an association to promote Puerto Rico’s competitiveness in the international insurance and reinsurance markets. …
Read More Puerto Rican Offshore Insurance Companies Create Association