Latin American market News

Insurtech Trov Partners with LatAm Insurer Sura to Bring On-Demand Insurance to Brazil

Trov, the San Francisco-based insurtech company, is partnering with Latin American insurer Seguros Sura to bring on-demand insurance products to the Brazilian market. Recent regulatory changes in Brazil have enabled insurers to offer on-demand insurance products to consumers and businesses …

Brazil Reinsurer IRB Eyes Purchase of Foreign Competitors’ Portfolios: Sources

Brazilian reinsurer IRB Brasil Resseguros SA is in advanced negotiations to buy rivals’ portfolios in Brazil and elsewhere in Latin America as foreign competitors scale back in the region, two sources close to the company told Reuters. Any such acquisition …

AI Specialist omni:us Partners with Insurtech Rokk3r to Enter Latin American Market

omni:us, the insurance-focused artificial intelligence (AI) solution business, has announced a partnership with Rokk3r, a global innovation technology and consulting company, to enable the AI company to enter the Latin American insurance market. In 2019, Berlin-based omni:us began building a …

Brokerslink Network Expands in Latin America with Two Broker Affiliates

Global broking business Brokerslink announced the addition of two Latin American affiliates to its network: Asescor S.R.L. Corredor de Seguros (Asescor), based in Bolivia, and CyR Consultores in El Salvador. Asescor, headquartered in Santa Cruz de la Sierra, is a …

Korean Re to Open Office in Bogota, Colombia, for Latin America Growth

Korean Reinsurance Co. obtained approval on Feb. 18, 2020 to open a representative office in Bogota, Colombia. This move is in line with its corporate strategy to further diversify into the Latin American markets, the company said in a statement. …

Lloyd’s to Open Miami Office to Expand Its Latin American and Caribbean Business

Lloyd’s plans to set up an office in Miami to support business development in the Latin American and Caribbean markets. “Latin America is a key market for Lloyd’s, with premium close to US$1.5 billion,” said Daniel Revilla, regional head, Latin …

Axon Underwriting Forms Axon Re to Offer Cargo, Stock Throughput Reinsurance in Latin America

Axon Underwriting Services LLC, the Somerville, N.J.-based specialty lines program administrator, announced the formation of Axon Re to offer its cargo and stock throughput reinsurance program within the Latin American region. Axon Re will provide facultative and treaty reinsurance cover …

Marsh, Guy Carpenter and JLT to Merge Latin America Facultative Reinsurance Units

Marsh and Guy Carpenter, both wholly owned subsidiaries of Marsh & McLennan Cos. (MMC), announced that, subject to regulatory approvals, they would combine their Latin American facultative reinsurance operations with those of Jardine Lloyd Thompson Group (JLT), which was acquired …

Beazley Adds Miranda to Latin American, Caribbean Team

Specialty insurer Beazley has appointed Vicente Miranda as a specialty lines underwriter responsible for developing Beazley’s specialty lines portfolio with brokers and clients in Latin America and the Caribbean. He will be based in Beazley’s Miami office. Miranda joins from …

Zurich Accelerates Growth of Cover-More Travel Insurance Unit with LatAm Acquisitions

Zurich Insurance Group accelerated the growth of Cover-More Group, its specialist global travel insurance and assistance solutions business, by entering into agreements to acquire the leading providers of traveler assistance in Latin America. The acquired businesses operate under the Travel …