Home (re) Insurance Latin America SSL Endeavour Plans Launch of MGA in Miami

SSL Endeavour Plans Launch of MGA in Miami

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Trio of senior hires positions SSL Endeavour with strong platform for growth in Latin America

Specialist independent Lloyd’s broker and delegated authority expert SSL Endeavour Limited (“SSL Endeavour”) has announced the planned launch of a managing general agent (MGA) based in Miami, USA, and a trio of senior hires to support growth in Latin America.

Set for a 1st January, 2020, start, 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 smooth transition of former Hemispheric Re Managing Director Álvaro Gabaldón and Julio Velasquez to join SSL Endeavour’s Miami operation as Managing Director and Senior Underwriter respectively.

Separately, SSL Endeavour also announces 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.

 

Roger Spicer, SSL Endeavour Group Head of Broking

 

Speaking exclusively to iNLIP, Roger Spicer, SSL Endeavour Group Head of Broking, said:

“SSL Endeavour is looking to build on the fantastic platform created by Álvaro and team and also add other product lines, such as Marine, Aviation and Cargo, into the offering available to clients. We will be service rather than transactional driven and want to sit alongside clients to understand their business and provide solutions.

Clients want to see a differentiator. Transactional broking is a given, and we should add value to the chain by bringing sound risk management advice and providing solutions to individual issues – not just to a generic product offering.

Latin America by its nature is a constantly changing picture that brings countless opportunities across all product lines.  Construction opportunities are huge in a wide range of countries whilst Marine and Cargo can be strong in Chile, Mexico and Brazil.”

SSL Endeavour Group CEO David Lawrence said in a statement:

“We are very pleased to be announcing our first step into Latin America, a fantastic milestone for SSL Endeavour as we continue our international expansion strategy, backed by JC Flowers. Establishing an MGA in Miami will provide us with an agile platform to develop innovative 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.

We are delighted to have reached an agreement with Hemispheric Re and welcome Álvaro and  Julio, to the team in Miami, as well as Amador to our London office to direct Latin American wholesale broking for the Group. Already we have built up strong relationships with our new colleagues and I am confident of a smooth transition of people from Hemispheric Re to SSL Endeavour in the days ahead.

Backed by this entrepreneurial new talent, SSL Endeavour is now well-positioned to capitalise on strong growth opportunities in the region, and continue to build on the good work that Hemispheric Re achieved under its late and much respected Founder John Blake.”

Álvaro Gabaldón, Managing Director of SSL Endeavour’s Miami MGA

 

Álvaro Gabaldón, Managing Director of SSL Endeavour’s Miami MGA, added:

“Buoyed by the strength of our accomplishments in the last 12 months at Hemispheric Re, I’m extremely excited to join SSL Endeavour Group at such an evolutionary moment for the Group, and amid strong demand in our target market.

I am looking forward to working with such a distinguished team of executives and being part of this innovative and focused global venture, as well as continuing to grow our high calibre network of business partners and associates across Latin America.”

 

 

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