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BRAZIL: At Last

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With just under 200 million people, Brazil is nearly twice the size of the next most populous Latin American country, Mexico, and has long been a coveted market for reinsurers. Rapid growth and economic stability are now the norm in a nation that less than a decade ago experienced a currency devaluation crisis that saw the real, the Brazilian currency, drop by two-thirds against the dollar. According to Brazil President Luiz Inacio Lula da Silva, it seems the country is even impervious to financial catastrophe. Although many believe Latin America will continue to be the region least affected by the global credit squeeze, Brazil is certainly not immune.

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