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Lloyd’s Opening Miami Office to Support Growth in Latin America and Caribbean

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Lloyd’s, the re/insurance marketplace, is opening an office in Miami from Sept. 1, 2024, with an aim to strengthen its Latin America and Caribbean business.

The new office will enable Lloyd’s to realign its resources to centrally support brokers, coverholders and managing agents throughout Spanish-speaking Latin America and the Caribbean, while creating another hub in the Americas to service overall Americas business.

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Concentrating Latin America and Caribbean market development activity from Miami will align Lloyd’s operations in the Americas across four offices in New York, Miami, Rio de Janeiro (Brazil) and Toronto.

Lloyd’s said Latin America and Caribbean is an important and fast-growing area for the market, accounting for 4.6% of gross written premium (US$2.7 billion) in 2023.

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The Miami office will also support market development across the US, where the excess and surplus lines (E&S) sector continues to grow and there are opportunities to expand the Lloyd’s Academy (the commercial education platform for risk professionals), and the Lloyd’s Lab innovation hub (that provides an insurtech accelerator program). The office will also provide support to captive syndicates, multinational businesses, and new capital.

“I’m incredibly excited about the opportunities that our new Miami hub will offer Lloyd’s as we are able to work more closely with our market in Latin America and the Caribbean,” commented Dawn Miller, Lloyd’s newly appointed chief commercial officer and CEO of Lloyd’s Americas.

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“We’ll also be able to provide broader support across the US, particularly in Florida and other states in the Southeast, which will enable us to continue to serve our customers in the Americas, a region that accounts for nearly two thirds of Lloyd’s premium,” Miller added.

Source: Lloyd’s

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