Specialist independent Lloyd’s broker SSL Endeavour has unveiled plans to launch a managing general agent (MGA) in Miami, the US to support its growth in Latin America region.
The new branch will begin operations on 1 January 2020 and will focus on building construction, energy and power generation business in Latin America.
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The brand name of the proposed MGA is yet to be confirmed and will be made public during the launch.
SSL Endeavour Group CEO David Lawrence said: “We are very pleased to be announcing our first step into Latin America, a fantastic milestone for SSL Endeavour as we continue our international expansion strategy, backed by JC Flowers.
“Establishing an MGA in Miami will provide us with an agile platform to develop innovative new products and expand geographic coverage in the region, with the aim of developing high quality business for A rated paper in the Lloyds and company markets.”
SSL Endeavour has entered into an agreement with Hemispheric Reinsurance Group to pave way for former Hemispheric Re MD Alvaro Gabaldon and Julio Velasquez to assume roles of MD and senior underwriter, respectively, at its Miami operations.
Additionally, W Denis Insurance Brokers’ senior consultant Amador Torrealba has taken up the role of head of wholesale broking for Latin America at the company’s London office.
Lawrence added: “Backed by this entrepreneurial new talent, SSL Endeavour is now well-positioned to capitalise on strong growth opportunities in the region, and continue to build on the good work that Hemispheric Re achieved under its late and much respected Founder John Blake.”
