Latin America’s reinsurance market is expanding despite slowing economic growth and foreign exchange challenges, driven largely by rising demand for catastrophe protection, according to A.M. Best, Reinsurance News reported. The region recorded 82 natural hazard-related disasters in 2024 causing $11.6 billion in losses, but only $1.5 billion was insured due to low penetration rates. Increased competition and ample capital have softened pricing since the second half of 2024.
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