Liberty Mutual Brazil Syndicates Expand Presence

March 28, 2011

Liberty Mutual first established a Syndicate presence in Brazil in 2009, when it set up operations for its Lloyd’s syndicates in Sao Paolo and Rio de Janeiro. However, it’s already outgrown the original office, and is moving to new and larger quarters in São Paulo.

Liberty noted that it had originally opened offices in Brazil to “capitalize on regulatory changes that resulted in a more liberalized local reinsurance market. The move to a larger office is part of the planned expansion of the syndicate’s local reinsurance capability.”

Both Liberty Syndicates offices in Brazil provide brokers access to Treaty and Facultative Reinsurance products, including Property, Specialist Lines and Marine.

Florian Kummer, Liberty Syndicates’ Manager for Latin America, who is based in São Paulo, commented: “We moved into the Brazilian market in 2009 because we could see plenty of opportunities with the opening up of the local reinsurance market. By expanding our operations in Sao Paolo, we will have the capacity to pursue opportunities resulting from the new financial landscape created by South America’s strong economic growth.”

The new Liberty Syndicates office is located at 21st Floor – Conj 212, Edificio Igarassu, Rua Surubim, no 577, São Paulo.

Source: Liberty Mutual

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