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Total premiums for the previous twelve months as of the end of September 2009 reached US$ 5.35 billion, up US$ 462.16 million (9.46) over the twelve-month period ending September 2008
Mexico recently issued a US$290 million series of notes to provide cover for earthquake and hurricane damage under the World Bank’s new MultiCat Program, becoming the first country to use the new platform
Eduardo Iturriaga, Director General of Mexico’s insurance regulator, the Comision Nacional de Seguros y Fianzas, recently reminded the market that purchasing foreign insurance from within Mexico is both a violation of the insurance law and a criminal offense that can carry penalties of a fine between 200 and 2,000 days' salary and a prison sentence of between 3 and 10 years
A spokesman for Spanish banking group Santander reportedly stated recently that the company is considering selling its insurance units in Argentina, Chile and Mexico, though he reportedly also referred to the situation as "vague and imprecise."
Argentina, Brazil, Colombia, Mexico, Puerto Rico, Venezuela
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July 27 2009
Mapfre’s Latin American operation, Mapfre America, recently announced that its net profits increased 25.0 and its total premiums 20.3 when comparing the first half of 2009 to the first half of 2008
