Swiss Re today announced the appointment of Margo Black as Head of Reinsurance for Latin America South and President of Swiss Re Brasil Resseguros, S.A., further deepening the leadership of its Latin American operations.
Ms. Black, who will be based in Brazil, joins Swiss Re from Willis, where she was Head of Brazil reinsurance. She will oversee Swiss Re's reinsurance programs for Brazil, Chile, Colombia and other key markets in South America and will also take on a broad leadership role for the development of the reinsurer’s Life & Health business in Brazil and other Latin American markets. Ms. Black will join Swiss Re in July.
The appointment follows last week's announcement that Alejandro Padilla will join Swiss Re as Head of Reinsurance Latin America North and President of Swiss Brokers Mexico, Intermediario de Reaseguro, S.A. de C.V. on June 1. Mr. Padilla was previously Country Head of Mexico and Central America at Cooper Gay.
Both Ms. Black and Mr. Padilla will report to Swiss Re Americas President and CEO Eric Smith, and will join the Company’s Americas Management Team.
"An appointment of Ms. Black's caliber to our Latin American team underlines the commitment Swiss Re has to the region," said Smith. "She has extensive experience in Brazil and other key countries of South America and she understands the risk management needs in the respective countries. She will no doubt benefit our clients as they seek innovative solutions."
Insurance premiums in Latin America grew by 9% to USD 65 billion in 2011 in the Life segment and by 10% to USD 89 billion in the Non-life area, in a trend that is expected to continue well into the next decade.
Swiss Re has offices dedicated to Latin American business in Mexico City and Brazil, where it has applied to obtain a local reinsurance registration, and Miami. Swiss Re's teams in Latin America also benefit from the underwriting and other specialist expertise housed in Swiss Re’s global offices and its Americas headquarters in Armonk, New York.