Eric Smith,
President and CEO, Swiss Re Americas
Latin America’s growth and the potential for both our clients and the reinsurance industry is the lead story for 2013, and it will be an interesting one for many decades to come. Mexico, Columbia and Brazil are the three countries we find extremely interesting. You see a lot of big infrastructure projects, which leads to Engineering and Property covers. In all three of those countries [you can see] the emergence of the middle class, and this is driving a lot of opportunity in the insurance space.
The lack of robust economic growth in the U.S. is by far biggest challenge. The economy is not growing at a rate that allows insurers to see the kind of organic growth they would like to have. If the economy doesn’t pick up, then what we saw in 2012 we will see in 2013.
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