Colombia News

Colombia Plans $23 Billion Holding Company for State-Run Businesses

Colombia in November will launch a $23.2 billion holding company comprising 19 companies in which the government has stakes, including banks focused on agriculture and exports, to boost efficiency and improve portfolio management, it said on Wednesday. The effort follows …

Colombia’s Regulator Approves RMS Earthquake Model for Use by Insurers

RMS, the the Newark, Calif.-based catastrophe risk management firm, has received approval from the Colombian insurance regulator, Superintendencia Financiera de Colombia (SFC), to offer catastrophe modeling services to national and global insurance companies writing earthquake risk in Colombia. Insurers writing …

Colombia’s Insurance Regulator Approves Use of AIR’s Earthquake Model

Catastrophe modeling firm AIR Worldwide (AIR) announced that its earthquake model for Colombia has been approved by the country’s insurance regulator, the Superintendencia Financiera de Colombia, for use by domestic insurance companies in managing their earthquake risk. “The Colombian government …

Fatal Colombia Jet Crash Investigators to Examine Whether Plane Ran Out of Fuel

Air-safety experts probing the jetliner crash that killed 71 people, including most of Brazil’s Chapecoense soccer squad, will look at whether the plane ran out of fuel while on a flight close to the limits of its range. The distance …

Update: Plane Crash in Colombia Kills 75; Brazilian Soccer Players on Board

An aircraft carrying 81 people, including players from the Brazilian soccer team Chapecoense, crashed on route to Colombia’s second-largest airport Monday, killing at least 75, according to local reports. The BAE Systems Plc RJ-85 plane chartered from Bolivia’s Lamia had …

Integro Expands Reinsurance Presence in Latin America with HRL Alliance

International broker and risk management firm Integro announced an agreement with HR Latinoamerica Ltda. Corredores de Reaseguros (HRL) to serve as HRL’s exclusive London wholesale reinsurance trading partner. The licensing agreement grants HRL Colombia use of the Integro name and …

Gallagher Plans to Buy Controlling Stake in Colombian Broker Guianza

Arthur J. Gallagher — the international division of Arthur J. Gallagher & Co. – has signed an agreement to acquire a controlling stake in Colombian retail insurance broker Guianza S.A. Corredores de Seguros, subject to regulatory approval. The remaining shares …

Gallagher Buys 65% of ARM Re, Colombian Energy & Construction Specialist

Arthur J. Gallagher – the international division of Arthur J. Gallagher & Co. – has extended its investment in Latin America with a 65 percent shareholding in independent Colombian energy and construction specialist ARM Re Ltda (ARM). Other terms of …

Travelers to Buy Majority Stake in Colombian Insurance Startup

Travelers Cos., the lone property- casualty insurer in the Dow Jones Industrial Average, agreed with a partner to buy a majority stake in a startup surety provider based in Colombia. The joint venture with Brazil’s J. Malucelli Participacoes em Seguros …

Four Latin American Nations Agree to Remove All Trade Tariffs

Mexico, Colombia, Peru and Chile said on Monday they had wrapped up negotiations to remove all trade tariffs between them, cementing a bloc that the four hope will encourage free trade between Latin America and the rest of the world. …