Latin America insurers face potential slump in line with economy

Industry braces for slower demand • Brazil motor premiums up 12% in 2008 • IRB Brasil Re’s profits up 25% in last year as Brazil’s only reinsurer • Brazil increases reinsurance broker licences • Fitch reports on Argentine market

Roberto Junguito, executive president of the Colombian Insurers Association (FASECOLDA), said that “a possible economy slump and, therefore, lower premium growth might affect insurance demand. (Re)insurers’ investment portfolios may show volatile earnings”.