Beazley seeks strategic partnerships in LatAm
The Latin American region can present challenges for insurers, but also opportunities to grow, says Ricardo Ortega of Beazley.
While the Latin America region can pose challenges for re/insurers, there are also many opportunities, especially as inflation starts to come under control and some countries see growth in their insurance markets.
Ricardo Ortega, head of Latin America, broker relations, at Beazley, told FIDES Today that is certainly the case for Beazley, which is looking to strengthen and consolidate its position as a specialty reinsurer in Latin America and expand the reach of its traditional lines such as property, marine and energy through key strategic partnerships in the region.
A sneak preview: more exclusive content and interviews inside
A sneak preview: more exclusive content and interviews inside
Regulations can slow progress in LatAm: Oneglobal
Regulations have made Oneglobal’s entry into Latin American countries slower than in others such as the US, but there is great optimism for future developments.
Broker Oneglobal has grown its footprint rapidly in Latin America in recent years and has 50% year-on-year growth tipped for 2023. It will soon announce its launch in a new country in Latin America, although the country is still not named for regulatory reasons.
However, according to Nicolau Daudt, chief executive officer LatAm at Oneglobal, regulatory barriers can make life difficult when it comes to entering new markets.
“We want to be in more countries, but some regulations can slow down our entry,” he says. In some countries, obtaining a licence for broking can take up to two years.
