Miami-based MGA CargoCorp has appointed WTW's Maria Jose Vicuña as head of the its Southern Cone region.

Parametric risk transfer is gaining the most traction with clients when it is used to cover losses beyond physical damage, Augment Risk's associate partner for parametric solutions in Latin America Alejandro Solorzano has said.

The cyber insurance market in Asia is projected to triple in size by the end of 2025, driven by increased demand as a result of heightened cybercriminal activity and regulatory scrutiny, according to law firm RPC’s latest annual insurance review.

The US International Development Finance Corporation (DFC) has provided $1bn in political risk insurance as part of a $1.53bn debt conversion project in Ecuador to unlock funding for long-term conservation.

IRB(Re) has announced the appointment of Frederico Knapp as chief financial officer.

Independent (re)insurance broker BMS has bolstered its regional footprint with an agreement to acquire Spanish broker Rasher, as well as its subsidiaries in Colombia and Peru.

The government of Honduras has received a $4.67mn payout after its parametric excess rainfall insurance policy was triggered last month during Tropical Storm Sara.

A Munich Re-backed parametric insurance program for Bolivian soybean farmers uses a crop yield index from Praedictus Climate Solutions.

Colombian energy firm Celsia received a multi-million-dollar payout on its weather derivative program this year after a drought affected hydropower production in South America.

Fitch Ratings has maintained a neutral outlook for Latin American insurance markets in 2025, citing stable financial results, strong capitalisation, moderate economic growth, and easing inflation and interest rates.