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Member, Beacon International Group, Ltd.
Fitch Ratings Ltd. has said that limited data for modelling and managing catastrophe risks "partially poses constraints in the use of alternative capital" for Latin American insurers and reinsurers, reported Artemis.bm.
The region's insurers and reinsurers are finding it difficult to access new sources of risk transfer capacity due to limited data. "Modeling capabilities and compilation of more comprehensive statistics need to improve for alternative uses of capital to become more prevalent in the region," Fitch said. Fitch has forecast steady growth for the region's reinsurance market.