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  • Writer's pictureThe San Juan Daily Star

CPAs to host forum on island insurance industry

Puerto Rico Insurance Commissioner Alexander Adams Vega

By The Star Staff

The insurance industry in Puerto Rico continues to face diverse challenges due to economic uncertainty, increases in cost of capital, volatility in financial markets, increased inflation and high reinsurance costs.

Given this scenario, the Certified Public Accountants Association of Puerto Rico (CCPA by its Spanish initials) will hold the XXIV Annual Insurance Industry Forum next Thursday, May 11 at the Sheraton Puerto Rico Hotel & Casino, where a panel of experts will present a survey of the market and discuss alternatives, as well as possible solutions, to the aforementioned challenges.

“The insurance industry has an impact on all aspects of our lives and economy, being essential for risk management,” said CPA Aixa González Reyes, president of the CCPA. “The current economic environment impacts the price of insurance premiums, investment portfolios, reinsurance costs, administrative costs and the industry’s profitability prospects in the short and medium term.”

The event will include the special participation of Puerto Rico Insurance Commissioner Alexander Adams Vega. In addition, there will be a panel of experts who will present a market survey and discuss alternatives, as well as possible solutions to the challenges faced by an industry that is so important for the island’s economic development.

The following topics will be presented as part of the agenda: insurance in an uncertain economy; the effect on investment portfolios of an uncertain present and future; reinsurance market, recent events and their impact on Puerto Rico; technological advances in the Puerto Rico insurance industry; and an analysis of each segment of the insurance industry in Puerto Rico: property & casualty, life and health.

Those interested in attending can register at The forum will be held from 9 a.m. to 5:30 p.m.

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