Transamerica Reinsurance, a division of Transamerica Life Insurance Company, has appointed Alfonso Lombao as managing director for Latin American business.

Mr Lombao will coordinate sales, marketing and business development strategies for the region, including traditional reinsurance solutions and customized product programs.

Mr Lombao has experience in both the direct side and reinsurance side of the life insurance business. His retail insurance experience includes four years in bancassurance, an increasingly important distribution channel in emerging markets.

Michael Colannino, executive vice-president of of international at Transamerica, said: “Mr Lombao’s experience in reinsurance solutions and his understanding of Latin American markets, combined with his commitment to creating value for clients, will well position our business in Brazil, Chile and Mexico.

Mr Lombao said: “Latin America came through the recession in relatively good shape; growth prospects are strong in these markets.

With its foundation of close working relationships in the region, Transamerica Reinsurance is well situated to help local life insurers in the development and execution of their product and marketing strategies.