Focusing on the expansion of its business abroad, IRB Brasil RE, leader Latin American reinsurer, takes part in the 29th Insurers Convention promoted by AMIS (Mexican Association of Insurance Institutes), on the 14th and 15th, in Mexico City. The event, which is the main forum of such sector in Mexico, is expected to gather 1.200 leaders from companies and public bodies.
IRB’s strategy for international market, which is looking for opportunities, mainly in Latin America, focusing on life, agrobusiness, property and aviation lines, has presented positive results. Out of the premiums issued by the company in 2018, 39% were generated by international operations. In the first quarter of 2019, the issued premiums abroad already count for BRL901.9 million, representing an expansion of 46.3% compared to the same period last year.
Mexico is the greatest reinsurance market in Latin America, operating US$4.8 billion each year, and the second greatest insurance market in the region, with US$27.8 billion. These figures support the country and its 70 reinsurers in IRB’s strategy, which acts since 2014 in the Mexican market and offers services in all business lines: property, agrobusiness, marine, transportation, engineering, oils and gas, aviation, civil liability, financing and life and social security.
With an 80-year history, IRB relies on its financial soundness and expertise to make the difference. “We are a regional player, what allows us to have a view closer to our clients, offering services complying with their needs. This is possible because of the company’s integrated management, which combines underwriting, financing and administration”, states IRB Reinsurance vice-president, José Farias de Sousa.
About AMIS 29th Insurers Convention
AMIS Insurers Convention is the main forum in the sector in Mexico and this is its 29th edition. Themed “Visão geral do risco: as ameaças que enfrentamos” [Free translation: Overview of the risk: the threats we face], the event will debate and present proposals to minimize the economic impact of natural disasters, risks imposed by technological changes and demographical issues.
About IRB Brasil RE
IRB Brasil RE is a private company, leader in reinsurance in Latin America, which is among the ten greatest reinsurers in the world in market value: BRL 27 billion (January 2019). It stays as leader in nine of 11 business lines with which it works and is a reference for its expressive results, financial soundness and technical expertise. With an 80-year experience, it is headquartered in Rio de Janeiro and has offices in São Paulo, Buenos Aires and London.