QBE Expects 7.14% Premium Growth For Latin American Operations In 2009; ACE's Latin American Life Insurance Premiums Up 85%
QBE Insurance Group recently stated that the company expects its gross written premiums from Latin American operations to grow by 7.14% for the year 2009. The company further reported that each of its Latin American operations, which include both direct insurance and reinsurance and span Mexico, Argentina, Brazil and Colombia, was individually profitable. QBE Americas CEO John Rumpler also commented that the company will be considering Latin American acquisitions in the coming year.
ACE CEO Evan Greenberg recently stated that ACE's life insurance premiums from Latin America increased 85% when comparing 3Q '09 to 3Q '08. Over the same period, ACE experienced double-digit net written premium growth for all lines in both Brazil and Mexico. ACE Latin America was ACE's fastest growing division in 2008. The unit offers property and casualty, accident and/or health insurance in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama, Peru and Puerto Rico. Mr. Greenberg also commented that ACE is interested in potential P&C acquisitions in the United States and internationally.
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