According to a recent Mapfre report, in 2016 the region saw its first growth in premiums in three years, despite recessions in Argentina and Brazil.
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Insurance giant Chubb may face claims after the famous singer called off her show scheduled for Friday due to health reasons.
The Chilean P&C insurer has Carlos Escudero Segura at the helm.
Comments from Moody's and Fitch said low insurance and banking penetration in the hardest hit region, as well as strong catastrophe reserves, should ensure a low impact.