This page contains a Flash digital edition of a book.
Inside
Intelligence
REINSURERS FLOCk TO RIO
“It was good to see
Walter Kielholz at
the press conference
introducing the new
report. In March,
he took over as the
chairman of
Swiss Re, after its
As re/insurers look for the next big thing, it’s no After opening to foreign and private competition
troubles.”
surprise that latin America’s biggest insurance market last year, the brazilian market now has 63 reinsurers,
is experiencing plenty of activity.
of which five are local, 20 are admitted and 38 are
With a population of 180 million, the potential is eye-
eventual reinsurers.
poppingly large.
local reinsurers are incorporated in brazil and are
The brazilian national Private Insurance board has
dedicated solely to reinsurance, while admitted reinsurers
authorised german insurance giant Allianz to operate
are incorporated outside brazil, but have representative
in brazil’s reinsurance market. The company received offices in the country. Eventual reinsurers are incorporated
permission to operate in life and non-life segments. outside the country and have no local offices.
BANkERS BODY WANTS STRONGER SYSTEM
Just when you thought you’d be able to forget the impact the need to co-ordinate new and existing regulations.
of the financial turmoil, the Institute for International The report, Restoring Confidence, Creating Resilience: An
Finance (IIF) has issued a fresh report calling for the Industry Perspective on the Future of International Financial
strengthening of the global financial systems. Regulation and the Search for Stability, outlines the measures
necessary to protect against future disruptions to the
The Institute was created by 38 banks of the leading
global economy.


industrialised countries almost three decades ago in
response to the international debt crisis of the early It was good to see Walter Kielholz at the press conference
1980s. Even though the Institute had all that insider introducing the new report. In March, he took over as
knowledge, it was unable to predict the issues that the chairman of Swiss re, after its troubles.
ultimately afflicted the global financial system. luckily,
The former Credit Suisse man said: “The new system that
it has been able to author an august new report offering
emerges needs to be well co-ordinated among regulators,
ways to repair the damage—much of which was caused
with an emphasis on effectiveness and harmonisation.
by some of its current members.
It will need to avoid protectionist measures taken
leaders of global financial services firms spoke about purely with a national perspective without adequate
the opportunity to build a more efficient system and co-ordination across national jurisdictions.” ©iStockphoto.com / luoman, ©iStockphoto.com / simonox
10 | INTELLIGENT INSURER | September 2009
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64
Produced with Yudu - www.yudu.com