Deutsche Rückversicherung will start writing business in Latin America. The Board of Executive Directors has appointed Florian Kummer as Head of Latin American Markets. The German reinsurer, based in Düsseldorf, will focus on traditional property and casualty business in the newly launched market segment.
With a view to the upcoming renewals, Deutsche Rück plans to start writing standard property and casualty business in the Latin American markets, subject to regulatory formal authorisations, with a consistent focus on profitable growth.
Florian Kummer is the new Managing Director for the Latin American markets and is reporting to Board member Achim Bosch. Kummer has over 25 years of experience in the reinsurance industry, many of them in senior management positions. An economist and political scientist by training, he has intimate knowledge of the region and of Latin American culture, having lived and worked in Mexico City, Madrid, São Paulo and Miami, among other places.
“We are very pleased to have Florian on our team,” said Achim Bosch, member of the Board of Executive Directors at Deutsche Rück. “His knowledge and experience will greatly contribute to our ability to share our expertise with local and regional insurance companies in the vibrant Latin American markets.”
As a highly specialised risk manager and part of the German Savings Banks Finance Group, Deutsche Rück directs its attention towards local and regional primary insurers, where the reinsurer occupies a leading position in its domestic market.
“Hundreds of thousands of small and mid-sized businesses, as well as a growing and dynamic middle class, are the lifeblood and economic backbone of Latin American societies,” said Kummer. “This is precisely where our specialist skills and knowledge lie. We and our partners maintain a strong regional focus based on intimate knowledge of the markets we serve.”
Source: Deutsche Rück