April 2022 | The ICISA INSIDER
| Regional Focus
Regional focus: Credit insurance in Latin America By Paulo Rogério Gonçalves De Morais, Vice President of Panamerican Surety Association (PASA)
Almost 15 years have passed since the crisis of the socalled subprime mortgages (2007) and the subsequent global financial crisis (2008), while today we are within the ongoing pandemic crisis. It has been a troubled period during which the world economy has had to overcome a great recession, various regional economic crises with some rescues in between, and now Covid-19. Obviously, a period with many challenges for the credit insurance sector too!
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In these 15 years, credit insurance production in the Latin American region has exceeded the USD 400million barrier. From USD 152million at the end of 2007, it grew to approximately USD 415million at the end of Q3 2021 (latest data provided by Latino Insurance*).
