Insurance plays vital role in nurturing Latin American growth
Insurance is vital to ensuring Latin America takes the position it deserves on the world economic stage, said Pliar Gonzalez de Frutos, the new president of FIDES, speaking at the closing ceremony of FIDES 2015.
“Insurance is the machinery room of the economic movement of the world where we take care of risk and uncertainty,” she said. “If we didn’t have it, only people with great amounts of wealth could take risks, and everything would be in the hands of just a few.”
“We avoid these monopolies, and we ensure that anybody who has been bitten by destiny can be taken care of.”
She said that an important part of her role as president of FIDES is to place insurance in Latin America in the position it deserves.
“The 21st century is going to be the century of Latin America in many respects,” she said. “This intention of fostering insurance in Latin America isn’t about favouring any particular group of businessmen, it’s a conviction that only by doing this can Latin America grow and achieve the high place it deserves in the world economic forum.”
She went on to highlight the fact that wealth makes insurance grow and insurance makes wealth grow – first, because insurance as mechanism for stability for those have unfortunate events in their lives, and secondly, the second factor is that insurance has a positive collateral effect, including giving investors the confidence to make investments.
She added that what is needed in each economy in the 21st century is for insurers to have convictions on an intellectual and an operative level to design solution for each of their clients’ problems.
“Regulations that are too excessive don’t have any other consequence than making their capacity limited for these insurance companies so they risk less,” she added.
She concluded her comments by thanking the organisers of FIDES 2015.
“On behalf of all who have come to this conference I would like to congratulate our Chilean colleagues for their magnificent organisation of this conference,” she said.
