Latin America and Caribbean is an important and fast-growing area for Lloyd’s, accounting for 4.6% of gross written premium ($2.7bn) in 2023.
Lloyd’s is opening a new Miami office from 1 September to serve the market’s business across Latin America and the Caribbean.
The new office will enable Lloyd’s to realign its resources to centrally support brokers, coverholders and managing agents throughout Spanish-speaking Latin America and the Caribbean, Lloyd’s said.
Latin America and Caribbean is an important and fast-growing area for Lloyd’s, accounting for 4.6% of gross written premium ($2.7bn) in 2023.
Concentrating Latin America and Caribbean market development activity from Miami will align Lloyd’s operations in the Americas across four offices in New York, Miami, Rio de Janeiro and Toronto, Lloyd’s said.
The opening creates another hub in the Americas to service overall Americas business, the market said.
The Miami office will support market development across the US, where Lloyd’s specifically referenced the growing US excess and surplus lines sector.
Lloyd’s cited opportunities to expand the Lloyd’s Academy, its commercial education platform for risk professionals.
It also cited opportunities for the Lloyd’s Lab innovation hub, its insurtech accelerator programme, as well as support captive syndicates, multinational business, and new capital.
“I’m incredibly excited about the opportunities that our new Miami hub will offer Lloyd’s as we are able to work more closely with our market in Latin America and the Caribbean,” said Dawn Miller, Lloyd’s newly appointed chief commercial officer and CEO of Lloyd’s Americas.
Miller added: “We’ll also be able to provide broader support across the US, particularly in Florida and other states in the Southeast, which will enable us to continue to serve our customers in the Americas, a region that accounts for nearly two thirds of Lloyd’s premium.”
No comments yet