Dual names Rodriguez Forero as Latin America CEOHowden-owned MGA Dual Group has appointed Marilena Rodriguez Forero as CEO of the newly established DUAL Latin America.
LatAm MGA Solis Re brings in former Validus Re exec Ward as interim CEOFormer Validus Re executive Conan Ward has taken over leadership of Miami-based Solis Re on an interim basis in the wake of the MGA’s founder Andy Downey passing away earlier this month, The Insurer has learned.
Swiss Re CorSo makes parametric payouts to hospitality sector clients in MexicoSwiss Re Corporate Solutions has paid claims to clients of its parametric STORM solution in Mexico after Hurricane Beryl made landfall in the Yucatan Peninsula earlier this month.
McLarens names Ramirez LatAm MD while Garzon takes on global group roleClaims management specialist McLarens has bolstered its footprint in Latin America with the appointment of Felipe Ramirez as managing director, succeeding Leo Garzon who has been named senior vice president for group operations in the region.
Chubb appoints Sosa, Romanelli and Martinez as LatAm territory leadersChubb has reorganised its Latin America region into three sub-regions – Northern Latin America, Southern Latin America and Brazil – and appointed leaders for each territory.
Lockton Re launches treaty offering in Mexico with GC’s MendietaLockton Re has continued the expansion of its footprint in Latin America with the hire of Guy Carpenter’s Aldo Mendieta to launch a new treaty operation in Mexico.
Acrisure Re bolsters LatAm fac offering with Specialty Re partnershipAcrisure Re’s facultative division has signed a preferred partnership broker agreement with Specialty Reinsurance Brokers for facultative stock throughput and property business.
LatAm and Caribbean see “broadly positive” mid-year renewalsLatin American and Caribbean cedants enjoyed a “broadly positive” reinsurance renewal at 1 July with plenty of capacity to meet demand, according to Aon, although Gallagher Re noted that loss-hit insurers in Mexico faced increases of up to 35 percent on their excess of loss programs.
Hurricane Beryl heads for Mexico’s Yucatán PeninsulaMexico’s Yucatán Peninsula is bracing for Hurricane Beryl, now a Category 3 storm, to make landfall early Friday morning with 115 mph winds and dangerous storm surge.
Beryl weakens to Cat 3 as Cayman Islands and Mexico coast under hurricane warningHurricane Beryl remains a major hurricane as it passes south of the Cayman Islands this morning, with the storm expected to reach Mexico’s Yucatán Peninsula within the next 24 hours.
CCRIF pays $6.4mn to Guatemala and monitors Beryl impact after 2024 renewals completeRegional risk pool CCRIF SPC has made its first payout since its 1 June 2024 renewals, with Guatemala receiving $6.4mn after heavy rainfall in mid-June.
LatAm (re)insurance exec Downey passes awayFormer TransRe and Validus Re executive Andy Downey sadly passed away earlier this week following a battle with cancer.
Aon unveils LatAm and APAC analytics leadersAon has bolstered its regional analytics functions with the appointments of Luis Acevedo and Peter Cheesman as heads of analytics for Latin America and Asia Pacific respectively.
Maturing markets: cyber insurance in Latin AmericaCarolina Carmona, assistant vice president, financial lines manager at Liberty Specialty Markets Latin America, sets out the current landscape of the cyber insurance market across the region.
LM Re and Global Parametrics’ NDF lead renewal of $11mn Mexican state parametric hurricane coverThe state government of Quintana Roo on Mexico’s southeastern coast has returned to the international markets to renew its $11mn parametric named hurricane reinsurance coverage, The Insurer can reveal.
Alberto losses likely “lower than feared” but US wildfire spurs material loss bill: AonStorm-related losses from Tropical Storm Alberto – the first named storm of the 2024 Atlantic hurricane season – are expected to be “lower than initially feared”, according to the weekly cat report from Aon’s Impact Forecasting unit.
Allianz supports parametric insurance-backed loans worth $1.5mn for Colombian farmersAllianz has launched a parametric program in Colombia protecting avocado and coffee farmers’ investments in the event of too much or too little rainfall.
Liberty acquires Bogotá-based surety insurer JMalucelli Travelers SegurosLiberty Mutual Insurance has agreed to acquire JMalucelli Travelers Seguros, a domestic surety provider based in Bogotá, Colombia.
Mexico cat bond cover expands 23% in 2024The government of Mexico’s recently issued catastrophe bonds have collectively expanded the country’s protection against natural disasters by 23 percent in 2024.
Lloyd’s to open new Miami office focused on LatAm and Caribbean businessLloyd’s will open a new office in Miami from 1 September in a move it says will strengthen its Latin America and Caribbean business and continue to support the market’s “sustainable and profitable growth” in the Americas.