Latin America offers growth opportunities to reinsurers

According to a report from Aon PLC’s reinsurance solutions business, the Latin American market remains attractive for reinsurers as it presents them with a multiple of diversification and growth opportunities, Reinsurance News reported. The Jan. 1 renewals seemed to be a turning point in the reinsurance sector, with reinsurers looking to narrow coverage for non-natural catastrophe perils and restrict natural catastrophe cover to named perils in upper layers for regional programs. Aon is optimistic that more capacity will enter the reinsurance space throughout 2023 and stabilize the market.