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Cuba After Castro: Outlook for Reforms and Investment Insurance

12 September 2017

Cuba's insular economy presents an unexploited opportunity for the global (re)insurance industry, given its size and proximity to major financial centers. Sanctions, which have separated Cuba from the rest of the global economy, have rendered it the Americas' last investment frontier.

Nevertheless, conservatism is directing government policy through what it sees as a sensitive transition period following the death of Fidel Castro. Reforms are likely to be piecemeal through at least 2020. With rapprochement with the United States on hold, insurers and reinsurers still considering the Cuban market should focus on two factors: the current operating environment and the island's major hazards.

Axco's own Anastazia Clouting and Alexander Frost, in conjunction with CPCU recently explored the socio-political and economic changes within Cuba and what this might mean for the insurance industry at large.  The article appeared in the most recent edition of "Insights", a professional journal by the Institutes CPCU Society.

Read the full article here

Shared with permission from The Institutes CPCU Society.© 2017, The Society of Chartered Property and Casualty Underwriters. All rights reserved.www.CPCUSociety.org.