Despite increased competition, Latin American insurers will sustain growth and profitability in 2013, according to a new report from Ernst & Young, titled “2013 Latin American Insurance Outlook.”

"This is an exciting time in these emerging markets, with significant opportunities particularly in Mexico and Brazil, as well as some of the smaller markets like Peru," says James Littlewood , Ernst & Young LLP, who focuses on the Latin American market. "With the upcoming regulatory reform, countries such as Chile and Mexico are primed to integrate advanced risk and capital management measures for future compliance."

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