The Latin American reinsurance market remains shaped by foreigner reinsurers, while the bulk of Latin entities that have begun an incipient development mainly focus in captive niche segments, according to a new Fitch Ratings report.
Gross written premiums (GWP) and the reinsurance business in
In the special report published today, Fitch says the Latin American reinsurance market is in a soft cycle considering that in the last couple of years the number of natural disaster has decreased from its peak in 2010 and 2011. As a result, there is an international surplus of reinsurance capacity, weaker reinsurance premiums rates and lower funding cost.
The number of Latin reinsurers remains limited (fewer than 15), as a consequence of the ample capital requirements for reinsurance business, geographical ability to disperse the risk, and higher sovereign risk of most of the host countries. However, in recent years there has been further development of Latin reinsurers, mainly in
The report 'Diversity and Growth Opportunities in an Improved Regulatory Environment' is available at www.fitchratings.com, or by clicking in the link above.
Additional information is available at 'www.fitchratings.com'.
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Fitch Chile Clasificadora de Riesgo Ltda.
+56 (2) 2499 3309
+503 2516 6606
Source: Fitch Ratings
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