UK Broker Price Forbes Acquires 100% Stake of Chile Business

July 21, 2021

Price Forbes, a London-based insurance broker, announced it has increased its shareholding in Price Forbes Chile to 100% as part of its commitment to invest in growing its presence in Latin America.

Price Forbes has grown substantially in Chile since opening the office in Santiago with a minority shareholding in 2017. The purchase of the remaining shares makes Chile Price Forbes’ first wholly owned entity in Latin America.

The office is headed up by Chief Executive Martin Soto Quintus and Chief Broking Officer Miguel Pizarro who both joined in May from Aon Reinsurance Solutions.

“With the full strength of Price Forbes and the broader Ardonagh Group behind us, we look to future growth with excitement. Our scale and agility make us perfectly placed to meet local needs with technical excellence, unparalleled service and global connections,” commented Soto Quintus.

Price Forbes International CEO Greg Ferguson commented: “This investment should leave no doubt that we are serious about our commitment to Chile and the broader Latin America region under the leadership of Martin and Latin America CEO Oscar Rincon. We will continue to scale up our presence through high caliber hires and by offering co-ordinated regional, global and specialist insurance solutions in long term partnership with our clients.”

About Price Forbes

Price Forbes & Partners Ltd. is an independent global specialty insurance broker with offices in London, Brussels, Dubai, Hamilton, Labuan, Johannesburg, Stellenbosch, Santiago and Hong Kong (where it has a minority share). Established in 1892, Price Forbes has more than 430 employees working in all aspects of broking, technical, claims and support, and became part of the Ardonagh Group in June 2017.

Source: Price Forbes

Topics Mergers Agencies

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