Life insurance experiences growth in Latin America; risk-based oversight is needed

Signs of life

Santiago-landscape-Chile

Hand-in-hand with an emerging country’s developing economy and rising gross domestic product (GDP) comes the growth of the same country’s insurance market. It is a straightforward equation: as people get wealthier, they want to protect that wealth and it is a trend illustrated throughout the most prominent emerging markets in Latin America. At the forefront of this growth in the region’s insurance markets has been the success of life insurance, which in some cases has proved to be rather surpris