Chubb Limited announced that it has appointed Juan Luis Ortega Executive Vice President, Chubb Group and President, Overseas General Insurance.  Mr. Ortega will have executive operating responsibility for Chubb’s general insurance business in 51 countries outside of North America, including commercial P&C, traditional and specialty personal lines, and accident and health insurance.  The appointment is effective immediately. Currently Senior Vice President, Chubb Group and Regional …

Arch Capital Group Ltd. has entered into an agreement to purchase Barbican Group Holdings Limited (“Barbican”) from funds managed by Carlson Capital, a U.S.-based alternative asset management firm, subject to regulatory approval. The acquisition includes Barbican Managing Agency Limited, Lloyd’s Syndicate 1955, Lloyd’s Syndicate 1856 (“Arcus”), Lloyd’s Special Purpose Arrangement (“SPA”) 6132, Castel Underwriting Agencies Limited (“Castel”) and other associated …

The 2018 Ranking of insurance groups in Latin America classifies the largest groups operating in the insurance market of Latin America by premium volume. At the same time, this report also aims to give a dynamic view of its trends, from the perspective of its growth and its concentration. In order to distinguish between structural trends and occasional situations related …

Newline Group (Newline) announced that it is expanding its global footprint by joining Lloyd’s representative office in Mexico City, to serve clients in Latin America and the Caribbean. Operating within Lloyd’s in Mexico, Newline’s Latin America Division will begin underwriting liability and financial lines coverage effective immediately. Carl Overy, CEO of Newline Group stated, “With Newline’s long history of underwriting …

After the opening of the Mexico´s office, Lowers Forensics International (LFI) continues to expand their global presence to meet the increasing demands of insurers and organizations across industry sectors in Latin America by opening a new office in Argentina. The office is in Buenos Aires, Argentina and will be led by Lowers & Associates International’s (LAI) Alejandro Camino. Alejandro works with the executives …

Most experts agree the energy sector is moving from hydrocarbon-based overreliance to cleaner, more sustainable solutions in the wake of global warming and climate change. Renewable, or green, energy from sources like solar and wind promise to provide a cleaner future, but the uncertainty of new technologies, financing and ownership challenges, other obstacles and even theft mean renewables can be …

Glaucia Smithson will join Allianz Global Corporate & Specialty (AGCS) as CEO of South America She is succeeding Angelo Colombo who will leave AGCS later this year   Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group, has appointed a new regional leader for its South American business: On August 12, Glaucia Smithson will join …

A former Miami insurance agent has been arrested for allegedly stealing more than $1.7 million in insurance premiums from two insurance premium finance companies, according a statement from Florida CFO Jimmy Patronis. (Individuals charged with a crime are presumed innocent until proven guilty). Antonio Jesús Zoghbi, owner of Florida Insurance Agency of Miami, is accused of using fraudulent and stolen …

New Perspectives and Innovations for the Future of Insurance iNLIP, independent Network of Latam Insurance Professionals, proud Media Partner of the 2019 LIMRA LOMA Latin American Conference | Argentina Specifically designed for CEOs and senior executives doing business in the Latin American region, attendees will receive access to exclusive research, insights, and predictions for the future, along with plenty of …

Chubb Limited (NYSE: CB) announced that it has adopted a new policy concerning coal-related underwriting and investment.  With the new policy, the company will no longer underwrite the construction and operation of new coal-fired plants or new risks for companies that generate more than 30% of their revenues from coal mining or energy production from coal.  Insurance coverage for existing …

It is no secret that cryptocurrency is captivating audiences and opportunists on a global scale. By utilizing the cryptocurrency model of block chain technology, users can perform transactions more quickly and anonymously. As such, many believe cryptocurrency was initially created to facilitate illicit activity such as human trafficking and narcotics. That impression has since been replaced as more and more …

iNLIP, independent Network of Latam Insurance Professionals, proud Media Partner of FIDES Bolivia 2019. (XXXVII Conferencia Hemisférica de Seguros)   The 37th Hemispheric Insurance Conference of the Inter-American Federation of Insurance Companies (FIDES) will take place in Los Tajibos Hotel and Convention Center, Santa Cruz, Bolivia from 8th September to 11 September 2019. The Insurance related event will examine new trends and …

Given the nature of the business, the Insurance Industry coexists with uncertainty and in that vein, with the constant need to be prepared for whatever may occur.  For those working on underwriting, insurance products development, actuarial calculations for claims management, modelling and attempting to predict risk patterns, uncertainty is a constant source of concern.  The point is to be prepared …

Every claim brings with it a mountain of data. Some of this data is readily accessible and subjects itself to straightforward analysis. Think policy type, coverage, customer demographics, or loss history. Other data, such as witness reports, images, email text, or client financials, are much less structured. They don’t lend themselves to spreadsheets, summaries, or quick conclusions. This makes them …

Osterling Abogados, Insuralex´s exclusive member in Peru, advised the Peruvian association of insurance companies when making their case for the regulator to reconsider an opinion formerly issued against the validity of “claims made” clauses included in liability policies. In recent days, the Peruvian Superintendence of Banking, Insurance and Pension Funds Administrators (SBS as per its Spanish acronym) published a draft bill, …