Construction across Latin America is on the rise with a hive of activity, as highways, railways, stadiums, bridges, energy projects and other major construction takes place across the region.
Unsurprisingly with the upcoming World Cup in 2014 and Olympic Games in 2016 (collectively attracting USD 60 billion of investment), Brazil is taking the lead with annual investment from the government anticipated as being around USD 100 billion through to 2017. However, to focus just on these two events is a mistake; according to Michael Raney, CEO of Zurich Latin America:
“Often the story in Brazil is about the World Cup and the Olympics. Although these are certainly important, and add to Brazil’s global visibility, investments in preparation for these events amount to only a small share of the total that is planned from investment in infrastructure in the coming years”.
The opportunities for insurers and reinsurance companies are therefore significant. In fact, according to the LatAm Insurance Review (‘Bridging the Gap’, dated 26 February 2013), engineering lines in Brazil witnessed a 127 per cent increase between 2010 and 2011, which represents the highest growth in the region. According to another recent article in the LatAm Insurance review (21 May 2013) as well as a new study by Munich Re, the Brazilian primary insurance market is forecasted to become the eighth largest in the world by 2020, up from the 15th position at year-end 2010. Such opportunities are as relevant for reinsurers as for insurers. When project size and complexity increases, so does the reliance on reinsurance to provide required limits, scope of coverage and technical know-how.
Download full version of the article: Is Brazil paving the way in more ways than one? (PDF, 98KB)
ALEX GUILLAMONT Director of Miami office for Latin America & Caribbean
Qualified in Spain, England and Wales
Alex Guillamont is the director of Kennedys Latin America and leads the Latin American and Caribbean practice at Kennedys Law. He handles disputes on behalf of leading international insurers and reinsurers, having represented clients across the region. With 15 years of experience, Alex is an acknowledged leading expert on insurance and reinsurance matters in in the region. After serving the market with claims in Iberia from our London and Madrid offices, he relocated permanently to Miami in June 2010. He has been nominated as LATAMIR Power 50, Latin American insurance sector most influential professionals and his Miami office has been awarded the 2013 Reactions Latin America Awards as Latin America Insurance and Reinsurance Law Firm.
Alex is involved in complex losses on major environmental and natural disasters, contractors all risk, financial institutions and D&O, energy claims, environmental claims, regulatory compliance and third party administration schemes, political risk etc. in the entire region—most recently in Argentina, Bolivia, Bahamas, Brazil, Chile, Central America, Colombia, Costa Rica, Ecuador, Haiti, Mexico, Panama, Peru and Venezuela. He and his team advise carriers on regulatory issues and strategic deployment of offices, wordings and claims handling procedures, and audits of ceding companies.
He is fluent in English, Spanish and Portuguese and has conversational French. Alex s is author of The Guide of insurance and reinsurance law in Latin America, Caribbean and Iberia and is finalising its 3rd edition. He is also a regular contributor to insurance press like Financier Worldwide, Insurance Day Magazine, Intelligent insurer, Latin Lawyer, Latino Insurance, etc.
ANNA WEISS Associate Kennedys Latin America & Caribbean
Qualified in England and Wales, requalifying in Caribbean jurisdictions
Anna Weiss qualified as a lawyer in England and Wales in March 2005 and practiced law for leading London firms for ten years prior to joining Kennedys Latin America LLC in 2013.
As a member of the Kennedys team in Miami, she is involved on claims and policy reviews throughout LATAM and also is the key contact on legal matters in the Caribbean.
Her key expertise lies in construction and engineering risks, and in particular, CAR and Professional Indemnity policies, given that Anna’s particular expertise is in construction and engineering law.
Anna was the lead construction and insurance lawyer whilst in house with AEG, the company that converted the Millennium Dome into The O2, voted the most successful entertainment venue in the world, and from this experience is familiar with placing policies and considering claims from the eyes of the client.
Anna works in English, Spanish and French, when required.
(re) Insurance Professionals Miami (Latin America & Caribbean) 