Insurer 11-month net profits plunge 78%

Peru's insurance industry reported a 78% decline in net profits from January-November 2008 compared to the same period in 2007, according to figures from financial sector regulator SBS. Net profit...

• Chile

   Cuprum major shareholder restructures ownership

  Chilean holding company Empresas Penta has sold a 31.7% stake in pension fund manager AFP Cuprum to ...   more

• Chile

   Mutual fund APV assets up 0.8% in 12 months to September

  Chilean mutual funds saw voluntary pension assets under management grow 0.8% to 374bn pesos (US$585m...   more

• Peru

   Intergroup calls off plan to launch AFP

  Peru's Intergroup Financial Services (IFS) has canceled plans to launch a private pension fund unit ...   more

• Brazil

   Biggest pension fund to sell real estate assets

  Brazil's largest pension fund Previ plans to start 2009 selling real estate assets, local business d...   more

• Brazil

   Insurers to see slower billing growth this year

  Brazil's insurance industry is poised to see a slowdown in billing growth this year due to the globa...   more

• Argentina

   Paper: Affiliates file 500 lawsuits against AFJP nationalization

  Some 500 affiliates from Buenos Aires province alone had filed lawsuits against the nationalization ...   more

• Chile

   Association: Insurers could fetch US$600mn in APVC market by 2013

  Chilean insurers could grab as much a US$600mn of the recently created market for employer-sponsored...   more

• Bolivia

   Pension fund assets rise 8% in 12 months to October

  Bolivia's two AFP pension fund managers saw assets under management reach 25.9bn bolivianos (US$3.82...   more

• Brazil

   Porto Seguro sees 35.6% profit drop in January-November

  Brazilian insurer Porto Seguro saw net profits drop 35.6% in the first 11 months of 2008 compared to...   more