Syndicate 1221 takes advantage of Lloyd’s Rio presence
Navigators Syndicate 1221, part of US insurer Navigators Group, has appointed a local representative in Brazil, taking advantage of Lloyd’s of London’s presence in Rio de Janeiro. Lloyd’s has admitted reinsurer status in Brazil, and officially opened its doors in the country in April 2009.
“Having a qualified local representative in Rio de Janeiro will significantly improve our prospects of developing reinsurance business in the energy industry segment in which we specialise,” commented Stephen Coward, president of Navigators Technical Risk. “Brazil is an attractive market opportunity for Navigators because of its rapidly expanding economy."
He added that the country has plans to invest in its infrastructure as well as in the energy industry over the next 10 years. It will also host the 2014 FIFA World Cup and the 2016 Olympic Games. “Over time, we expect that other Navigators products will also be introduced through this channel,” he said.