Insurance: The week in 10 stories

By
Friday, August 31, 2018

REGIONAL

The Caribbean Development Bank has approved a US$3mn grant for Haiti to cover upcoming premiums for parametric catastrophe coverage from the CCRIF SPC.

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ARGENTINA

Argentina's economic woes are taking their toll on the country's life and P&C insurers, according to Moody's.

BARBADOS

–The health minister issued a call to review funding mechanisms for public healthcare due to rising costs and pressure on fiscal accounts.

–The US Department of Justice closed its bribery investigation into Insurance Corporation of Barbados Ltd (ICBL) without moving ahead with charges due to ICBL's cooperation with the DOJ.

BRAZIL

–Caixa Seguridade, the insurance arm of Brazilian state-run bank Caixa Econômica Federal, reached an agreement with French insurance group CNP Assurances to extend a joint venture, with a new format.

–The Brazilian unit of Japanese insurance group Sompo is preparing a major boost to its presence in the agricultural insurance segment.

–Tokio Marine Seguradora, one of Brazil's largest insurers, posted first half net income of 197mn reais (US$48mn), surpassing the 154mn reais for full year 2017.

–The local insurance industry is facing a difficult 2H18 and possibly also a challenging 2019 due to the weak economic recovery, according to our Brazil Insurance Report.

CHILE

In a Snapshot, BNamericas provided an overview of local P&C insurer Porvenir, which is due to become part of the Hartford Group, as a result of its recent agreement to buy fellow US insurance group Navigators.

MEXICO

Responding to complaints from the attorney general's office, the Mexican supreme court upheld the creation of unemployment insurance in the capital city's constitution