The Latin American captive insurance market is enjoying a significant boom in business as more regional industries become aware of the advantages a captive can offer.
Offshore domiciles such as Bermuda, the Cayman Islands and the British Virgin Islands are enjoying an upsurge in interest from the region’s businesses seeking to write diverse lines of insurance such as health, energy or catastrophe.
However, Latin America as a region is vast with huge disparity in the types of industries seeking solutions across the countries.
Colombian and Mexican organisations are widely regarded as front runners in establishing captive vehicles, whilst Venezuela and Brazil seem to be slower out the gate.
Captive Review speaks to industry experts from both inside and outside of Latin America who discuss the overall optimism and the healthy appetite for captives.
At the same time they point to a chronic lack of information on captives in the region and the absence of established regulatory bodies as the biggest hurdles the industry has to face in the coming years.
We analyse all these key points and more within Captive Review’s LatAm Report 2015.