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Venezuela orders takeover of Seguros Federal insurance company
  • Locke Lord LLP
  • Venezuela
  • January 5 2011

Venezuela's socialist government has ordered the takeover of Seguros Federal, a local insurance company that was part of a financial group under investigation for reported insolvency issues

Venezuelan superintendency calls on intermediaries to confirm license compliance
  • Locke Lord LLP
  • Venezuela
  • November 10 2010

Venezuela's newly strengthened regulator, the Insurance Activity Superintendency, has called on all authorized insurance brokers and agents to submit sworn statements confirming compliance with their license status

Venezuela formalizes expropriation of insurance company
  • Locke Lord LLP
  • Venezuela
  • September 9 2010

Venezuelan lawmakers have voted to formalize the expropriation of insurance company Seguros La Previsora, which was closed down last December because of irregular activities

Venezuela’s new insurance activity law comes into force
  • Locke Lord LLP
  • Venezuela
  • August 9 2010

The Venezuelan National Assembly has published in an extraordinary Official Gazette the new Insurance Activity Law, under which the insurance regulator is granted substantial new powers to intervene in the industry

Growth numbers and predictions for Chile, Ecuador, Uruguay and Venezuela
  • Locke Lord LLP
  • Chile, Ecuador, Uruguay, Venezuela
  • January 14 2010

The Chilean Insurance Association recently released predictions that the country’s insurance market will grow by 3.7 in 2010 and 6.7 in 2011

New insurance law expected to be approved in the next several days
  • Locke Lord LLP
  • Venezuela
  • October 22 2009

Congressman Rafi Souki, President of the Subcomission on Financial, Banking and Insurance Policy of the Venezuelan National Assembly, recently announced that, within the next several days, the final version of the country’s controversial new insurance law regulating the insurance industry will be approved

Market growth in Colombia, Ecuador and Nicaragua; Solvency II program in Colombia; Venezuelan companies may need to seek coverage from foreign reinsurers
  • Locke Lord LLP
  • Colombia, Ecuador, Nicaragua, Venezuela
  • July 31 2009

Swiss Re recently reported in its Sigma publication that the Colombian insurance market grew by 14.9 over the last year

Reinsurance prices down in Brazil? Costa Rican bank receives authorization to market insurance products on behalf of insurance companies; Venezuelan politician questions motives of opponents of new insurance law
  • Locke Lord LLP
  • Brazil, Costa Rica, Venezuela
  • July 30 2009

Eduardo Nakao, the CEO of IRB-Brasil Re, the government-controlled former reinsurance monopoly holder, recently acknowledged that the IRB’s reinsurance prices have hit a nine-year low and reportedly attributed the decline to increased competition from foreign reinsurance competitors

Premium growth results and forecasts
  • Locke Lord LLP
  • Venezuela, Argentina, Brazil, Colombia, Mexico, Puerto Rico
  • 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

Expansion into emerging markets a priority for insurance companies despite economic crisis; Grupo Mundial lays out plans for Costa Rica; Chilean insurer expands into Peru; premium growth in Guatemala and Venezuela
  • Locke Lord LLP
  • Venezuela, Chile, Costa Rica, Panama, Peru
  • July 24 2009

According to a recent Accenture study, cross-border expansion into emerging markets is a major short-term priority for insurance companies based in both developed and developing nations