Mexican market News

BMS Re Acquires Mexican Surety Reinsurance Broker Calomex

BMS Group, the independent specialist re/insurance broker, announce the acquisition of Calomex, the Mexico City-based specialist reinsurance broker, by BMS Re. The terms of the transaction were not disclosed. Established in 1996, Calomex delivers reinsurance solutions to Mexican surety providers, …

Mexico Prepared to Sue U.S. Mining Firm Vulcan Over ‘Ecological Catastrophe’: President

Mexico will go to local and international courts if there is no agreement with U.S. firm Vulcan Materials over its mining activity in the eastern state of Quintana Roo, President Andres Manuel Lopez Obrador said on Wednesday. The Mexican government …

Mexican Insurtech Startup Offers Quick Claims Payments for Earthquake Damage

Mexican startup Super, which offers coverage for earthquake property damages, plans to expand into hurricane insurance and possibly raise a fresh funding round next year, according to chief executive officer and founder Sebastian Villarreal. The company, which launched in 2019, …

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 …

Liberty Mutual Reinsurance Launches Operation Using Lloyd’s Mexico Platform

Liberty Mutual Reinsurance the reinsurance arm of Liberty Specialty Markets, announced it has launched a reinsurance operation under Lloyd’s registration in Mexico to serve clients in Mexico and Central America. The operation will be headed up by Rosa Flores, general …

Octo Telematics to Provide Commercial Fleet Telematics to Mexico Auto Insurer

Octo Telematics, the Rome-based provider of telematics and data analytics solutions for the auto insurance industry, has partnered with Qualitas, Mexico’s largest auto insurer with operations throughout Mexico, Latin America and the United States. Qualitas, which has more than 4 …

Mexico Begins Digging Out from Destruction of Hurricane Willa

Residents on Mexico’s Pacific Coast on Wednesday began clearing up the wreckage left by Hurricane Willa, which ripped through towns overnight, tearing off rooftops, downing power lines and splitting trees apart. Willa, a powerful Category 3 hurricane, hit the northwestern …

Mexican Insurers Will Absorb Losses from Hurricane Willa: A.M. Best

Mexico’s insurance industry overall remains well-capitalized and can absorb the financial impact generated from Hurricane Willa, according to an A.M. Best briefing. Hurricane Willa made landfall on Oct. 23 on Mexico’s Pacific Coast (approximately 300 miles west of Mexico City) …

Growing Headache for Corporate Mexico: Robberies of Cargo Trains

Head southeast out of Mexico City for about four hours or so and you will come upon the town of Acultzingo. It is an impoverished, dusty little place nestled up against the rugged peaks of the Sierra Madre. Most inhabitants …

Citigroup’s Mexico Unit, Chubb Announce Bancassurance Distribution Agreement

Citibanamex, a subsidiary of Citigroup Inc., and Chubb Seguros México, an affiliate of Chubb Ltd., announced a definitive long-term agreement where Chubb will provide a range of non-life insurance products to Citibanamex’s consumer bank clients in Mexico, subject to regulatory …