Former Aon man Paul Felfle to help drive growth from Miami office
Beazley is targeting 3-5% reinsurance market share in Latin America after establishing a Miami office to service the region earlier this week.
Beazley Group head of reinsurance Patrick Hartigan told GR: “We are not intending to take a very significant market share in the region, but we are intending to match what we have in the Lloyd’s market and some of our other offices.
“From a reinsurance perspective, in Lloyd’s we have a 3-5% market share. That we would intend to replicate outside, from what you might call our regional offices.”
Hartigan added that Beazley had chosen Miami because of the growing reinsurance community there.
Beazley’s Latin American business will be overseen by Paul Felfle, who recently left Aon Benfield.
Hartigan added that having a physical office near Latin America would give Beazley an advantage compared to servicing the same clients from London.
He said: “In effect, having Paul based in Miami, he can visit these clients, get to know them better, we get to know their businesses better, which makes us more confident in what we are writing, and that then leads to growth in the book.”