Bartolome Massot-Cristino, Vice President of Quest, said at the World Captive Forum that, despite political turmoil in many countries in the region, the Latin American captive insurance industry achieved growth of 2.5% in 2017, an acceleration from the 2.2% growth in 2016.

        He noted that the outlook published by Mercosur indicates that the Latin American captive market will maintain its growth momentum for the foreseeable future. Given the political turmoil in many countries in the region, this growth momentum is encouraging.

        Affected by the global financial crisis, the captive market declined continuously from 2010 to 2016, but this trend is expected to reverse starting from 2017.

        Esperanza Mead, head of the forum's actuarial panel, said that premium income of the Latin American captive industry is about $3 billion, only a small fraction of the $90 billion in global captive premiums, leaving huge room for future growth.