The New York-based Navigators Group announced that its wholly-owned syndicate, Navigators Syndicate 1221 at Lloyd’s of London, is co-locating with Lloyd’s in Rio de Janeiro by appointing a local representative.
Lloyd’s has Admitted Reinsurer status in Brazil and had its official opening there in April 2009 [See IJ web site – https://www.insurancejournal.com/news/international/2009/04/17/99714.htm].
“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 specialize,” explained Stephen Coward, President of Navigators Technical Risk.
“Brazil is an attractive market opportunity for Navigators because of its rapidly expanding economy,” he continued. “The country has plans to invest in its infrastructure as well as in the energy industry over the next 10 years. They are also the host country for the 2014 FIFA World Cup and the Olympic Games of 2016, which is expected to expand opportunities across the market. Over time, we expect that other Navigators products will also be introduced through this channel.”
Coward will be presenting at the Second Annual Lloyd’s Brazil Seminar held at the Copacabana Palace Hotel in Rio de Janeiro on Tuesday, July 20, at 9:45 a.m. local time. His presentation is titled “The Opportunity and Challenges of Underwriting Construction Risks in the Energy and Infrastructure Sectors.” Lord Levene, Chairman of Lloyd’s, will give opening remarks.
Source: Navigators Group
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