Allied World’s Lloyd’s Syndicate 2232 has received approval to commence underwriting direct insurance and facultative reinsurance business for Latin America and the Caribbean.
Paul Manguson, senior vice president, underwriting, and Paul Obolensky, senior vice president, business development, will build out Allied World’s Latin America insurance and facultative reinsurance portfolio, according to a statement issued by Allied World Assurance Company Holdings on Business Wire.
They will be based in Allied World’s Miami office. New lines offered will include casualty, professional liability (including healthcare professional liability), property (including onshore construction) and specialty (including marine cargo and aviation).
Julian James, president of Allied World Europe, commented, “We recognize that there is tremendous potential for growth throughout Latin America and we look forward to providing trading partners and clients with a strong portfolio of specialty products tailored to meet their unique exposures. Emerging markets offer significant opportunity for companies and investors, but along with those opportunities come risks. As such, it is vital to work with strong, well-positioned partners who can help their customers thrive.”
Frank D’Orazio, president of Allied World International, commented, “We have operated a successful treaty reinsurance business from our Miami location since 2012. Building out a direct and facultative operation further achieves our corporate goal of strategic territorial and product expansion, and we look forward to growing this business over time.”
Source:Allied World Assurance Company Holdings AG
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