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Insurance / Perspectives

Public sector risk management: "Mexico and Latin America more broadly is now a global leader in the sector"

Nikhil da Victoria Lobo, Jay Green

VP public sector unit , VP insurance-linked securities


Mexico in late October became the first country to access the capital markets through the World Bank's (WB) new MultiCat catastrophe bond issuance program. The MultiCat program gives governments a new way to insure themselves against the risk of natural disasters. It is the first platform of its kind in that it can structure insurance coverage for multiple perils and across multiple regions, allowing for the pooling of multiple risks. The Multicat Mexico 2009 issue is a US$290mn 3-year s

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Liberty takes on bancassurance, Brazil's slight recession


Luis Maurette

CEO
Liberty

October 30, 2009

ry week that goes by, stories continue to pile up regarding Brazilian banks reinforcing their insurance operations, increasing their investments or pairing up with an expert non-bank insurer. Itaú Unibanco will be selling Porto Seguro's auto and homeo more No permission

"In order to grow in Latin America we will become a local player in every one of the markets where we operate"


Armando Senra

Latin America and Iberian Peninsula CEO
BlackRock

October 23, 2009

asset manager BlackRock expects that the purchase of Barclays Global Investors (BGI) - due to be finalized December 1 - will boost its operations in Latin America. BNamericas spoke with BlackRock Latin America and Iberian Peninsula CEO Armando Senra to le more No permission

Weekly Wrap|Perspectives

Published: Friday, November 06, 2009

The week saw a Peruvian congressman present a bill that would prohibit the country's private pension fund managers (AFPs) from charging their affiliates commissions during the months when negative returns are posted on the pension savings that they manage.

The move didn't come as a big surprise as the AFPs have been under heavy fire since the global financial crisis due to lawmakers and the government, which are working on a mixed-commission (one fixed and one variable commission) scheme aimed at reducing today's commission levels.

The issue of commissions is not just a Peruvian issue, but something that has been much debated in most countries with private pension systems in the region. Mexico has implemented several changes to its Afore system that have significantly brought down commissions, and Chile is moving in the same direction with its latest pension reform.

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Coming Up

  • November  11-12, 2009

    Financial services group ING to release third quarter results. - Regional

  • November  12, 2009

    Medial Saúde to release financial results for the third quarter. - Brazil

  • November  26, 2009

    Thanksgiving Day, US markets closed. - Regional

  • November  29, 2009

    Presidential elections. - Honduras

  • November  29, 2009

    Presidential run-off election. - Uruguay