Since the financial crisis of 2008, many international companies have been searching for emerging
markets in which they can grow and recoup some of the losses they have been forced to sustain in their traditional markets in more developed countries. This is particularly true of insurance companies who, due to low interest rates and increased competition at home, have been seeking to branch out in order to spread and mitigate their risks.
Latin America has proved to be an extremely attractive market for such companies due to its high population, expanding economy and growing middle class. Substantial foreign investment in the region has made it more stable and business friendly for insurers who are cautious by their very nature. Industry figures place Latin American gross written premiums higher than Europe, the Middle East and Central Asia put together. Unsurprisingly, around half of this revenue comes from the region’s largest economy, Brazil, but the Spanish-speaking countries are also proving lucrative for insurers, with Chile, Argentina, Mexico, Colombia, Venezuela and Peru also showing strong growth in the insurance market.
However, this rapid growth has led to a shortage of qualified workers, with actuaries particularly sought after. This presents opportunities for expats who may wish to relocate, whilst at home, those working in insurance in the UK are increasingly likely to have business dealings with their Latin American counterparts. Clearly, the ability to speak Spanish is a distinct advantage in either case. Our intensive Spanish lessons are the ideal way to learn the language quickly and with your specific learning objectives in mind. Our native tutors can coach you on the vocabulary which will be important in your specific field as well as providing all the fundamentals for a good command of the language in general. Get it touch for more information or to book your lessons.