Lloyd’s Receives Approval to Open Colombia Representative Office

July 14, 2015

Lloyd’s has announced that it has received approval from the Colombian authorities to open a representative office in Bogotá. The bulletin noted that “under the new Lloyd’s representative office license, Lloyd’s syndicates are able to establish business development and underwriting functions in the Lloyd’s Colombia offices and provide onshore reinsurance.

“Juan Carlos Realphe G. has been appointed as Lloyd’s first General Representative responsible for market development and liaising with regulatory authorities and Lloyd’s business partners to enhance Lloyd’s presence in Colombia.”

He joined Lloyd’s in early 2015 and has 28 years’ experience in the Colombian insurance and reinsurance market. Realphe joined Lloyd’s from Willis Colombia where he was Placement Leader, Vice President and Interim CEO. He started his career with Allianz (previously Colseguros) in 1988 holding various roles before moving to Mapfre in 2001 where he led the Non-Life Business as the Non-Life Vice President.

Lloyd’s said its office in Bogotá would “house local representatives of Lloyd’s insurers and the Lloyd’s General Representative Office; adding that “Colombia is a fast-growing hub for facultative reinsurance and Lloyd’s is already a well-established provider of energy, property and aviation cover.”

Realphe expressed his delight at being “appointed as Lloyd’s first representative in Colombia; adding that he is looking forward to “establishing Lloyd’s presence in Bogotá. Lloyd’s will bring valuable capacity and specialist expertise to the Colombian market and there are strong growth opportunities for Lloyd’s, particularly in property and liability lines.”

Daniel Revilla, Lloyd’s Head of Operations & Strategy, Global Markets said: “Lloyd’s is strengthening its presence and offering in Latin America. We recently received approval for our Representative office in Mexico and will now move to establish a presence in Colombia giving local clients increased access to Lloyd’s expert underwriters and tailored risk solutions. I look forward to working with Juan Carlos to support Lloyd’s development in Colombia.”

Vincent Vandendael, Lloyd’s Director, Global Markets added: “Lloyd’s has delivered on the market’s desire for a presence in Colombia as part of our Vision 2025 strategy to increase our support to the world’s fastest growing economies. It gives me great pleasure to welcome Juan Carlos as our first Colombian representative and see the next phase in Lloyd’s Latin American growth strategy fall into place.”

Source: Lloyd’s of London

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