German insurance company HDI Global is set to open a new office in Portugal to complement its existing customer and broker platform in Iberia.

The company has received regulatory approval to open the office on the Iberian Peninsula.

HDI Global’s portfolio of solutions is set to be replicated in Portugal. It will include insurance for property damage and business interruption, casualty, energy and construction, marine, cyber and speciality lines.

HDI said the new branch will also provide access to its international programme network and its captive fronting and alternative risk transfer capabilities.

Nuno Antunes, currently serving as client strategy head for Iberia and Portugal country manager, will lead the new branch as managing director.

Antunes said: “Our focus will be on offering our clients and business partners innovative solutions, capital strength, stability, technical expertise and reliable service – regardless of whether they operate internationally or solely in Portugal.”

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By GlobalData

Local activities from the new branch office in Lisbon are due to commence at the beginning of next year.

HDI Global board of management member David Hullin said: “We have been operating successfully in Portugal for more than 20 years. Opening a branch office in Lisbon is the logical progression of our successful business development, our market analysis and our ambition to be the partner in transformation for our clients.

“On the one hand, we want to underline our strong commitment to Portugal and the entire Iberian Peninsula. On the other hand, we are much better accessible to our clients with personal contacts in the region.”