Insurance: The week in 10 stories

BRAZIL

The government is reportedly looking to sell its stake in reinsurer IRB.

Health insurer Notredame Intermédica acquired Belo Dente, a dental plan provider.

State-owned lender Banco do Brasil sold its stake in credit insurer SBCE.

São Paulo state saw cargo theft decline.

Confidence among insurers and reinsurers continued to deteriorate in April due to the weak economy.

COSTA RICA

Pension spending will force the government to issue US$380mn in bonds this year.

MEXICO

The central bank slashed its GDP growth forecast for 2019.

Mexico saw record voluntary pension savings in the 12 months through April.

PERU

Rating agency AM Best said it expects the recent 8.0 earthquake to produce minimum impact on the country's insurers due to low insurance penetration in the affected areas. 

And the quake prompted Peruvian insurer association Apeseg to renew its call for the introduction of mandatory Cat insurance coverage for homes.