Sovereign Risk Insurance Ltd., a joint venture between two subsidiaries of Bermuda’s ACE and XL, announced a “strategic alliance” with Panama-based Banco Latinoamericano de Exportaciones, S.A. (BLADEX), “designed to expand and enhance its Country Risk Guaranty program in Latin America and the Caribbean.”
Sovereign, with $4 billion in exposure spread over 60 emerging markets, brings new expertise and prestige to political risk coverage in the area. BLADEX is a multinational bank whose ownership is shared by banks from 23 countries in Latin America.
In 22 years of operation it has extended “over US$105 billion in the Region,” with a remarkable loss record of only $67 million.
The alliance will serve financial institutions, export credit agencies, multilateral and multinational interests in providing increased protection covering “a broader selection of political risks, including expropriation and war/political violence.”
Was this article valuable?
Here are more articles you may enjoy.
SEC to Drop Controversial SolarWinds Cyberattack Lawsuit 
Barge Looted in the Bahamas Returns to Florida but Insurance Claims Mounting 
North Carolina Motorist Tells 911: Eagle Dropped a Cat Through the Windshield 
How E-Deliveries Are Fueling More Crashes, Traffic, Pollution and Worker Injuries 
