The potential of the Latin American market is underdeveloped when compared to more mature markets, according to a new report from Standard & Poor's (S&P).The report says an increasing number of reinsurers such as Swiss Re are taking an active interest in the area, making it difficult for local reinsurers to compete.Jaime Careno, credit analyst at S&P, said: "As local economies respond to lower inflation rates, the base for developing individual life and annuities markets tied to the region's
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