OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, from the CNSeg Fifth Annual Rio de Janeiro Reinsurance Meeting in Brazil, reinsurance industry leaders said that they still see great potential in Brazil’s insurance market, but the country faces a range of economic and political challenges. Click on http://www.ambest.com/v.asp?v=cnseg1416nc to view the entire program.
“Brazil is actually facing a moment of a perfect storm,” said Judi Newsam, country head of Brasil, Guy Carpenter. “Brazil is a country heavily dependent on its commodities, and the worldwide commodities market has crashed. Plus, at this time, Brazil has high inflation and a slightly turbulent political scene, so the country has all of this coming together at a time when the insurance industry is starting to take off and reinsurance is coming out of a closed environment.”
Margo Black, president, Swiss Re, Brasil, said she believes that providing for the country’s more than 100 licensed reinsurers is putting pressure on pricing, which is probably the country’s biggest challenge.
Full-length interviews are available as well. Go to http://www.ambest.tv/cnseg16 to see all the interviews.
Other people who appear in this episode include:
- Rodrigo Protasio, chief executive officer, JLT Re - Grupo Jardine Lloyd Thompson plc, Orypaba; and
- Roberto Westenberger; superintendente, SUSEP.
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