management, Argentina became the highest producing country in terms of net written premium in the AIG Latin American region.

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1 LATAMIR 12 feature: power 50 Compiled from reader nominations and the opinions of an anonymous panel of judges, LatAm Insurance Review presents its annual Power 50 list, comprising the Latin American insurance sector s most influential professionals. Although not ranked in order of influence, we have highlighted ten individuals who are particularly highly regarded in the region. These 50 key figures have been recognised for the important part they play in shaping the future of the Latam insurance industry. BY annie roberts INSURERS JORGE LUIS CAZAR Regional president ACE Latin America Having joined the firm in 1999 as country president of Chile and Argentina, Jorge Luiz Cazar was appointed regional president in 2006, and heads up the continued expansion of the firm s presence in the region, including the acquisition of two Mexican insurers last year. JAIME CALVO Brazil and COO Mercosur (Brazil, Argentina, Uruguay, Paraguay) AIG Jaime Calvo has been an insurance executive for more than 24 years and has played an active role within AIG s Latin American operations. In fact, under his management, Argentina became the highest producing country in terms of net written premium in the AIG Latin American region. PEDRO PURM Brazil Argo Pedro Purm joined Argo International in 2011 as of its commercial property and casualty insurance operations in Brazil tasked with overseeing the creation and operation of the new subsidiary. MARCO ANTONIO ROSSI Bradesco Seguros Having spent 30 years working at Organização Bradesco, Marco Antonio Rossi is leading the continued growth of the largest insurance company in Brazil, Bradesco Seguros, alongside his positions as executive vice president of Banco Bradesco and vice-president of Brazil s national confederation of insurance companies CNSeg. HERMAN WEISS Latin America zone manager Chubb Group of Insurance Companies As senior vice president and Latin American zone manager of the Chubb Group of Insurance Companies, Herman Weiss has led Chubb Group s efforts in Latin American since 2004, establishing the company as one of region s prominent insurance providers.

2 FEATURE: POWER VICTOR MEINTJES Executive vice president and COO, Latin American region Liberty Mutual Group Having joined Liberty Mutual in 1995 via the firm s acquisition of Seguros Caracas, Victor Meintjes has played a key role in establishing the firm s presence in the region, most notably in Venezuela, where Liberty has dominated the sector in terms of market share. Adding to its accolades, in terms of net written premium the company is also the number two property and casualty company in Colombia, and is among the top 10 property and casualty companies in Brazil and Chile, as well as in Argentina, based on net earned premium. This growth continues today with the firm entering the insurance marketplace in Ecuador late last year with the purchases of two auto insurers. QBE now writes premium income in excess of $1.2bn in seven countries in the region. FERNANDO CONCHA of Latin America RSA Fernando Concha was the driving force behind establishing RSA s current position as the leading general insurer in Chile and, last year, the sixth largest general insurer in Argentina by gross written premium. In his current role, he continues to push for significant premium growth, making Latam the firm s fastest growing region. ANTONIO TRINDADE Head of corporate solutions Itaú Seguros With more than 30 years experience in the Brazilian insurance market, Antonio Tridade has a long-established and wellrespected presence in the industry, and after the incorporation of Unibanco Seguros into Itaú Seguros, he has continued to lead the growth of one of the largest insurance companies in Brazil. JUAN MANUEL PEÑA ROCA La Positiva Seguros y Reaseguros Formely the and president of Federacion de Seguros (Fides), Juan Manuel Peña Roca is president of La Positiva Seguros y Reaseguros and La Positiva Vida, both belonging to one of the most important insurance groups of Peru, La Positiva, which continues to takes great strides under his leadership. VINCENT VANDENDAEL Director, international markets Lloyd s Previously of global corporate business for Zurich Insurance in Asia Pacific, Vincent Vandendael is a newcomer to the firm. Joining Lloyd s in December 2012 (see news page 7) as director of international markets he now heads up the firm s international operations across South America, as well as in Europe, Asia, Australasia and Africa. RAFAEL CASAS GUTIÉRREZ president of MAPFRE AMERICA and first vice-chairman of the international direct insurance division ANOTNIO HUERTAS chairman and MAPFRE In their respective positions as president of MAPFRE AMERICA, and chairman and of MAPFRE, Rafael Casas Gutiérrez and Antonio Huertas have both substantially contributed to the development of what is now one of the most prolific re(insurance) companies in Latin America. JOSE SOJO Latin America QBE After more than a decade at QBE, Jose Sojo has overseen the expansion of the firm, which has conducted more than 10 acquisitions in Latin America, including the recent HSBC Argentina purchase. RAFAEL RAMON AUDELO MENDEZ Seguros Inbursa As head of the subsidiary of one of the largest financial groups in the country, Grupo Financiero Inbursa, Rafael Ramon Audelo Mendez oversees 267 offices throughout Mexico and is at the forefront of a rapidly growing market. THOMAZ CABRAL DE MENEZES SulAmérica Formerly of Latin America & Caribbean at Marsh, Thomaz Cabral de Menezes has a solid background in the Latin American insurance market, and since joining SulAmérica in 2010, has continued to grow the already leading Brazilian insurer. JAYME GARFINKEL Chairman Porto Seguro Described by one voter as the most important insurance executive in Latin America, Jayme Garfinkel is deserved of a place among the region s highly regarded industry figures. Since joining Porto Seguro in 1972 as an assistant executive officer, he has grown the company from a small insurer bought by his father, Abraham Garfinkel, to one of the largest insurance companies in Brazil today. Garfinkel stepped down from his prior role as of the company in September last year and is succeeded by Fabio Luchetti. Garfinkel still maintains a pivotal role in the company as chairman of the board of directors.

3 LATAMIR 14 FEATURE: POWER 50 GONZALO ALBERTO PEREZ ROJAS Suramericana With a career at Suramericana spanning three decades, Gonzalo Alberto Perez Rojas continues to drive the growth of the insurance arm of Colombia holding company grupo Sura, through acquisitions across Latin America, and also maintain its position as the largest life and P&C player in Colombia. IVÁN GONZÁLEZ Managing director, head of Latin America Swiss Re Corporate Solutions Iván González has been pivotal in establishing Swiss Re Corporate Solution s insurance strategy in the region, and continues to grow the business, leading the company s acquisition of UBF Seguros in Brazil in 2011 and strengthening its relationship with its Latin American clients. REINSURERS CARLOS CAPUTO, Latin America Alterra An industry veteran with 36 years of underwriting and management experience in Latin America and, in particular, Brazil, Carlos Caputo has been the driving force behind the expansion of the firm s presence across Latin America and also heads up its reinsurance operations in Brazil. RONALD DIAZ Senior vice-president Everest Re In his role as senior vice-president of Everest Re and general manager of Latin America, Ronald Diaz has driven the impressive development of the firm s business in the region and significantly expanded this book for Everest making the company one of the leading reinsurers in Latin America. KONRAD RENTUP and Hannover Re Since joining Hannover Re in 1990, Konrad Rentup has risen through the ranks, ANTONIO CASSIO DOS SANTOS Chairman and general insurance, Latin America Zurich An innovative industry player, Antonio Cassio dos Santos arrived at Zurich in May 2011 in order to further boost the growth of Zurich s business in Latin America, and is responsible for defining the regional strategy, building the right capabilities, and engaging the firm s talent base. Prior to joining Zurich, Cassio was the of Mapfre in Brazil, where he redefined the firm s market strategy and grew the company from $122.4m to $2bn in five years, and, notably, during 2009, led an alliance with Banco do Brasil, which allowed Mapfre to continue growing in the Latin American market. ANGELO COLOMBO and, regional unit Americas Allianz Global Corporate & Specialty Formerly of RSA Brazil, Angelo Colombo joined Allianz in 2008 to lead the firm s P&C underwriting in Brazil and has since established a solid reputation within the industry. Carrying a strong background in reinsurance and insurance in the region, Colombo has led AGCS in Brazil since 2009 when the firm was granted its admitted reinsurer s licence and continues to manage local business with the launch of Allianz Global Corporate & Speciality Resseguros Brasil at the beginning of the year (see news page 6). setting up Hannover Re (Bermuda) in 2001, which is now well positioned in Latin America and a market leader in several countries across the region. ALEXANDRE MALUCELLI Vice-president JMalucelli Seguradora With a career at Jmalucelli spanning four decades, Alexandre Malucelli has been a key driver behind the creation, development and continued growth of the company, and has particular expertise in the area of warranty insurance. MATTHIAS MARWEGE Senior executive manager for Latin America, Spain, Portugal and Caribbean Munich Re With a career at Munich Re spanning three decade, and appointed to his current position as head of the Latin America, Spain and Portugal division in 2008, Matthias Marwege has continued to grow Munich Re s impressive market share in the region through his innovative and assured approach to the market. SALVATORE ORLANDO Head of Southern Europe, Mena, Africa & Latin America PartnerRe For over two decades, Salvatore Orlando has built strong ties to the Latin American region and has developed enduring business relationships recognised by PartnerRe s clients for bringing innovative solutions, transparency and

4 FEATURE: POWER LEONARDO PAIXÃO IRB- Brasil Re As head of former Brazilian state reinsurer, IRB, there s no questioning Leonardo Paixao s status as an industry heavy-weight. Having joined IRB in 2009 after the reinsurer relinquished its monopoly status; he has combatted the loss of market share by aggressively targeting other markets, which began with the opening of its office in Argentina in Although 90% of its premium income still comes from Brazil, the reinsurer would like to have more participation in Latin American and international markets. We are considering Colombia because of the growth rate, but we are also looking at Paraguay, Uruguay, Bolivia, Peru and Chile, he told LatAm Insurance Review (issue 15). INGRID CARLOU, Patria Re Reaseguradora Patria At the forefront of one of the biggest players in the Mexican market, Ingrid Carlou has a wealth of experience in the (re)insurance industry that started over 20 years ago and has taken her around the world. She joined Reaseguradora Patria in 2005 where she has been a fundamental force in the transformation and modernisation of the company, which has led to the repositioning of the company at an international level. In May 2012 Carlou became the group and in this capacity she is also in charge of corporate strategy for the reinsurance division within the group. a profitable bottom line underwriting focus. JAMES GRIEVE Chief underwriting officer for P&C treaty business in Latin America & Caribbean SCOR Re James Grieve plays a pivotal role in the ongoing development and success of the firm s Latin America operations in his current position where he has overall responsibility for Scor s underwriting strategy and policy in the region. PAULO EDUARDO DE FREITAS BOTTI Terra Brasis Re Former executive vice-president of Itaú Group, where he developed a 30-year-long career, and through his involvement in the Brazilian Insurance Companies Federation (FENASEG) developing the reinsurance regulation for the opening of the market, Paulo Botti remains at the forefront of the region s reinsurance industry. JAVIER VIJIL, Latin America and Caribbean division Transatlantic Re A clear driver behind the development and continued growth of the reinsurer, Javier Vijil has firmly established MARGO BLACK Head of reinsurance Latin America South and president of Swiss Re Brasil Resseguros Swiss Re A veteran of the Latam reinsurance market, Margo Black has 34 years of experience working for reinsurers, insurers and brokerage firms in the region, as well as other geographies. Bringing with her a wealth of experience from her previous role at Willis, where she was head of Brazil reinsurance, she began her current role in July 2012 and is responsible for the growth of Swiss Re s reinsurance programmes in Brazil, Chile, Colombia and other key markets in South America, as well as developing Swiss Re s Life & Health business in Brazil and other Latam markets. Transatlantic Re s leading position in the Latin American market, with the region representing about 8% of the company s global annual premiums. PHILIPPE ROCHAIX and COO XL Re Latin America Philippe Rochaix boasts an impressive 25 years of experience in the (re) insurance industry, including more than 12 years in emerging markets, and was appointed to his current position in October 2010, where he has spent the last two years growing XL s Latin America Reinsurance operations. BROKERS MIKE HUGHES Aon Benfield, Latin America Starting in the insurance market with Liberty Mutual and enjoying a career spanning four decades at Aon, Mike Hughes is a highly regarded industry figure and a driving force behind the company s achievement as a firmly established broker in Latin America.

5 LATAMIR 16 FEATURE: POWER 50 JORGE GONZALEZ GALE Chairman Aon Risk Services, Latin America A veteran of the Latin American market, Jorge Gonzalez Gale has over 40 years experience in the insurance industry and previously held the position of at Aon Risk Services, Latin America for over a decade, cementing its position as one of the leading brokers in the region. TOM PAYNE Chairman, casualty division Arthur J. Gallagher After moving his entire casualty team and portfolio of business from SBJ Global Risks to Gallagher International, STEVE JACKSON, Latin America Cooper Gay Steve has nearly 30 years insurance experience, all of which have been with Cooper Gay and in his position as he is responsible for Cooper Gay s extensive Latin American network of offices, and leads Cooper Gay s Latin executive committee. His main area of expertise is property facultative reinsurance including all occupancies from oil and gas, power and mining to general property, and he also has considerable experience in the creation, structuring and placing of all types of captive reinsurance programmes. LUCIANO PORTAL SANTANNA Superintendent of private insurance Susep (Brazil) Susep was a force to be reckoned with last year as it began judicial proceedings against 100 unlicensed local insurers in Brazil and an investigation of a number of international players. Santana has also been instrumental in regulating microinsurance products and addressing brokers independence. MANUEL AGUILERA CNSF (Mexico) of the Insurance and Surety and taking up the role of chairman of casualty for Gallagher London in June 2011, Tom Payne s presence in the Latin American market, particularly in liability risks, is well respected. RICARDO BROCKMANN, Latam and Caribbean Region Marsh Ever since his appointed as country manager for Mexico, Ricardo has led the company s transformation and consolidation, and continues his leadership of Marsh in his position as, Latin America and Caribbean region in 2010 and, more recently, his appointment as Marsh & McLennan companies country corporate officer for Mexico (see page 7). REGULATORS LUIS MAURETTE Regional, Latin America Willis Luis Maurette joined Willis in 2011 from Liberty Seguros Brazil, where he served as president and from He is a prominent figure in National Commission (CNSF- Mexico) since 1998, Manuel Aguilera continues to drive the legal and institutional framework that supports the regulation and supervision of the insurance sector. JUAN BONTEMPO Superintendent SNN (Argentina) Following the introduction of new rules limiting reinsurance operations to local companies, and a recent resolution requiring insurance companies in Argentina to invest a proportion of their funds in the country s infrastructure projects, Juan Bontempo undoubtedly has a difficult job on his hands, which not AIDAN POPE of Latin America and Caribbean (LAC) operations Guy Carpenter Aidan Pope boasts more than 25 years of extensive experience in the LAC treaty reinsurance business, most recently serving as the of Aon Benfield s LAC business, where he personally established offices in Mexico and Brazil. He joined Guy Carpenter in 2009 where he has been instrumental in the strengthening of the company s position in Latin America. Peter Zaffino, president and of Guy Carpenter said at the time of his appointment: Aidan possesses a unique understanding of the region, developed from his deep experience in the industry over a number of years. the Latam insurance sector having also worked for 14 years at CIGNA International and more than 10 years at leading financial services organisations across Latin America. everyone in the industry in convinced he can handle. OSVALDO MACÍAS MUÑOZ Superintendent SVS (Chile) Osvaldo Macias Muñoz has played a key role in the market since 2003, notably in the reform of the countries pension law and a new supervisory model, based on risks, for the insurance industry. LUIS DELLA TOGNA Superintendent SSRP (Panama) Luis Della Togna is confident that with good legislation that provides incentives, the future is bright for the country to position itself as an international (re) insurance market hub.

6 FEATURE: POWER SERVICE P ROVIDERS JUAN CARLOS MARTINEZ and Cargo Risk Management With over 26 years of experience in the industry, Juan Carlos Martinez continues to lead the company as one of the most innovative risk management providers in Latin America, a position it has maintained for the last 14 years. JOÃO MARCELO SANTOS Head partner of the insurance and reinsurance department Demarest & Almeida Advogados João Marcelo Santos heads up the re(insurance) department at Demarest & Almeida Advogados, one of the biggest law firms in Brazil and Latin America, with particular expertise in advising international clients doing business in Brazil. ALEX GUILLAMONT Partner Kennedys Law Alex Guillamont continues to service (re)insurers legal needs in the Latin America region, particularly in respect of large losses and intricate regulatory and non-contentious projects such as policy drafting, carrying out audits and setting up local operations. MARIA ESCOBAR Senior vice president, head of captive solutions Latam Marsh With 21 years of experience specialising in risk and insurance solutions, Maria Escobar is well equipped, in her current role as the head of Marsh Captives Solutions for Latin America, to articulate the company s global captive capabilities to its clients throughout the Latam region. MARCELO MANSUR HADDAD Partner Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados Marcelo Mansur Haddad heads the insurance, reinsurance and pension practice of Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados, which is focused on regulatory, claims, and corporate and M&A matters and is one of the leading law firms in Brazil. He has been involved in the most significant Brazil-related transactions, claims and regulatory matters in recent years. He has also published extensively in the fields of insurance and reinsurance, and is recognised throughout the industry as a leading practitioner in these fields. RISK MANAGERS Although not part of the Power 50 list, the following risk managers were highlighted for their efforts in positively driving forward risk management strategies in their own companies in the wider Latin America region. RENÉ ALEJANDRO MARTÍNEZ FLORES Global director of insurance & risk management CEMEX With extensive knowledge of global insurance programmes, René Martinez Flores has a proven track record with more than 12 years of experience in designing, evaluating and implementing risk management solutions, and currently leads the global risk management programme at global building material supplier and cement producer Cemex. GUILHERME BROCHMANN Director of risk management, Latin America DHL With 32 years of experience in the Brazilian insurance market, Guilherme has spent the last eight years in a risk management position at DHL, and with a focus on the risk and Insurance program placement at DHL group in Brazil, has achieving savings in the period of approximately $4.7m. CRISTIANE FRANÇA ALVES Risk manager Latin America Pirelli Alongside her responsibilities in the implementation of risk management programmes in Latin America at Pirelli, Cristiane Alves is also the current president of the Brazilian Association of Risk Managers (ABGR), vice president International Federation of Risk and Insurance Managers Associations (IFRIMA) and part of the board of directors of the Latin American Association of Risk Managers (ALARYS). LUIS ERNESTO GUERRERO Risk Manager, Latin America region PepsiCo As head of the treasury risk management function for Latin America at PepsiCo, Luis Ernesto Guerrero manages all insurance lines for both the foods and the beverages business divisions, overseeing more than 15 countries in the region and played a central role in the ongoing success of the firm.