Specialist independent Lloyd’s broker and delegated authority expert SSL Endeavour Limited (SSL Endeavour) will launch a managing general agent (MGA) based in Miami, and a trio of senior hires to support growth in Latin America.
Set to begin Jan. 1, 2020, the new operation will concentrate predominantly on building construction, energy and power generation business throughout Latin America, operating under a brand name that will be confirmed at launch.
The MGA launch follows agreement between SSL Endeavour and Hemispheric Reinsurance Group LLC (Hemispheric Re), an independent reinsurance capacity provider and broker based in Miami, to allow the release and transition of former Hemispheric Re Managing Director Alvaro Gabaldon and Julio Velasquez to join SSL Endeavour’s Miami operation as managing director and senior underwriter respectively.
Separately, SSL Endeavour also announced that Amador Torrealba has joined the company’s London office as head of Wholesale Broking, Latin America. Most recently a Senior Consultant at W Denis Insurance Brokers Plc, Amador’s new role will see him support the SSL Endeavour Miami MGA operation as well as the group in further developing business in the region.
SSL Endeavour Group CEO David Lawrence said its international expansion strategy is backed by private investment firm J.C. Flowers & Co. LLC. He added establishing an MGA in Miami will provide it with a platform to develop new products and expand geographic coverage in the region, with the aim of developing high quality business for A rated paper in the Lloyds and company markets.
SSL Endeavour specializes in placing open market and delegated authority business produced by direct clients and worldwide agents.
The company has several divisions supporting lines of business globally including Marine, Aviation, Property, Casualty and Specialty, as well as combined claims, technical and broking experience.
SSL Endeavour Group was formed in 2018 when Lloyd’s broker and delegated authority specialist Endeavour Insurance Services Limited merged with fellow Lloyd’s and independent specialist marine broker SSL Insurance Group.
The deal involved both companies being acquired by a fund advised by private investment firm J.C. Flowers & Co. LLC.
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