-Swiss insurance company Zurich Financial Services Ltd. wants to boost its presence in Brazil and Mexico as it bets consumers in Latin America’s two largest economies will demand more insurance products, according to a top executive.

“In the short-run, I think the focus is to continue building up our presence mainly in Mexico because in the other markets we already have a very strong position,” Peter Rebrin, chief executive for Zurich Latin America, said in an interview in Mexico City.

Zurich has operations in Brazil, Mexico, Argentina, Chile, Bolivia, and Venezuela.

Rebrin said the company will look to grow in the region both organically and through acquisitions.

“Certainly in the bigger markets, Mexico, there are less opportunities. I think many of the good opportunities have been taken,” he said in reference to potential deals.

In late 2008, Zurich acquired two insurance companies in Brazil from private investors and local bank Banco Mercantil Do Brasil SA (BMEB4.BR). The deal included an exclusive agreement with Banco Mercantil for the distribution of Zurich Brazil’s insurance products.

In Mexico, Zurich ranked No. 15 in 2008 with 3.8 billion pesos ($294 million) in premiums and a 1.8% market share, according to regulatory data. - wsj.com