Argentinean company BARBUSS invests in Uruguay’s insurance potential.

With the authorization of the Central Bank of Uruguay, the global company of Argentine origin BARBUSS -with two decades of experience in financial services, claims management, and consulting specially designed to assist the risk transfer industry- acquired Aseguradores de Canciones in Uruguay.

The company has a global network of experienced professionals working covering regions and markets in the United States, United Kingdom, Europe, Latin America, Asia-Pacific, Middle East, and Africa; in addition, it develops innovative solutions through different business lines such as Claims Services, Management Services & Specialty Insurance.

“We have invested in Uruguay with a long-term vision and continue to project new investment opportunities in the country. We are focused on providing solutions aligned with the needs of the local market and, in turn, with the aspiration of exporting these solutions to other countries in the region. Our presence in Uruguay strengthens our commitment to the country and reflects our belief in Uruguay’s potential as a leading player on the international insurance scene,” explained Mauro Arcucci, CEO of BARBUSS.

The organization said the acquisition boosted the company’s structure and improved services, especially in the local and Latin American markets. “We believe this transaction enhanced our ability to offer better products and services, as well as provide new opportunities for our customers, partners, team, and other key stakeholders,” said Gabriel Parcio, the company’s appointed general manager for Uruguay.

BARBUSS officials indicated that Uruguay stood out significantly among its choices for offering a favorable legal and regulatory environment backed by the country’s macroeconomic stability. “The decision is based on the competitive advantages that Uruguay presents, providing a solid legal framework and efficient regulation for the insurance sector,” they said.

They highlighted the potential of talent in the Uruguayan market, especially in financial services, insurance, and technology. “It further convinced us that Uruguay is a place with great potential for regional leadership, and we are proud to contribute to the growth of this local talent and support the country’s economic development,” they said.

They also added that the information provided by the Central Bank of Uruguay and Uruguay XXI, as well as the accessibility of the Uruguayan government, were actions that contributed to building the confidence to choose Uruguay as the location for their operations.