Charles Taylor has opened a new office in Panama in a move that expands its captive insurance services’ capabilities across Latin America, and has appointed Alvaro Ortiz, formerly of Arch Reinsurance, Bermuda, to lead the new office.
Ortiz joins the company as President and Chief Executive Officer (CEO of Charles Taylor RSLAC Inc., leaving Arch Reinsurance, Bermuda, where he held the position of Head of Treaty Underwriting for Latin America and Caribbean.
Ortiz has also worked at Everest Re and Howden Broking Group in Latin America, before joining Arch Reinsurance.
The establishment of a new office in Panama means that Charles Taylor now has 72 offices across the world in 29 different countries, with six of these offices now situated in Latin America.
“The demand for captive management services is growing quickly in many Latin American countries. Our long-established captive management hub in Bermuda is based in a highly stable and well-regulated jurisdiction making it an attractive location for Latin American insurance business,” said William Wood, CEO, Charles Taylor Insurance Management (Bermuda) Ltd.
“I am very pleased that Alvaro Ortiz has joined Charles Taylor to establish our new Panama office and drive our captive management business development initiatives in Latin America. He has an outstanding record of business development. As a Head of Treaty Underwriting Latin America and the Caribbean for Arch Reinsurance in Bermuda, he grew their treaty book from $6 million to $29 million. Alvaro’s expertise will be a huge asset to Charles Taylor and I look forward to working with him to develop our captive business across Latin America,” he continued.
