BestDay Audio Features Interview with Willis’ Tony Phillips on Changing Use of Reinsurance in Latin America

OLDWICK, N.J.--(BUSINESS WIRE)-- Tony Phillips, managing director jointly for Latin America and the Caribbean for Willis Group, is featured in the May 16 edition of BestDay Audio. Please visit http://www.ambest.com/v.asp?v=phillips512 to listen.

Willis is a speaker at the Insurance Market Briefing - Latin America, set for June 28 and 29 in Miami. The event is sponsored by A.M. Best Co.

In the interview, Phillips discusses how insurers in more sophisticated markets within Latin America are increasingly moving from proportional to excess-of-loss coverage.

“Nowadays there is a lot more savviness in the region about how reinsurance operates, and yes, they are using reinsurance as a form of capital. The local authorities are requiring more and more reinsurance. They’re looking at models. This is something that is relatively new in the Latin America field,” Phillips said.

Phillips also discusses the changing nature of catastrophes, including the rise in flooding and how climate change appears to be bringing new exposures to some regions of Latin America, including windstorms in sections of Argentina.

A.M. Best's 2012 Insurance Market Briefing - Latin America will be held June 28 and 29 at the JW Marriott Marquis in Miami. Sessions include presentations and discussions involving A.M. Best rating analysts, insurance and reinsurance executives, brokers and regulators. For registration information, please visit http://conferences.ambest.com/latam.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2012 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.

A.M. Best Co.
Lee McDonald, 908-439-2200, ext. 5561
[email protected]

Source: A.M. Best Co.