Bermuda-based PartnerRe Ltd. has established a representative office in Sao Paulo, and has applied for a license to become an admitted reinsurer in Brazil.
“The move follows the opening of the Brazilian reinsurance market, and underlines PartnerRe’s commitment to the growing Latin American market, where PartnerRe has actively participated for more than ten years,” said the bulletin.
Alvaro Madronero and David Preti have been appointed Chief Commercial Officer and Chief Operational Officer respectively to manage the new office.
President & CEO Patrick Thiele commented: “This is an important strategic and operational development for PartnerRe. Having an office in Sao Paulo means we can better serve our Brazil-based clients by providing additional capacity and our expertise directly to the local market. It is also the next step in a thoughtful, long-term strategy of expansion into the emerging markets for PartnerRe.”
Source: Partner Re – www.partnerre.com
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