H.W. Kaufman Group has expanded into South America through the acquisition of Prospect Brokers Chile based in Santiago, Chile.
The acquisition resulted in rebranding Prospect Brokers Chile as Chesterfield LatAm (Latin America) and relocating to a larger office location to accommodate growth.
Chesterfield, a Lloyd’s insurance and reinsurance broker in London, is a subsidiary of Kaufman.
This is the eleventh international acquisition by Kaufman in the past nine years, as the company follows a strategic growth plan that expands its expertise and resources to serve a growing base of international clients.
Alan Jay Kaufman, Chairman, President and CEO, H.W. Kaufman Group commented: “This strategic opportunity with Prospect Brokers Chile now marks H.W. Kaufman Group’s presence in three continents.
“Chile has a well-established insurance market and we see great opportunity to build our team in the new location with plans to further expand into other countries in South America.”
As a full-service specialty insurance distribution brokerage firm, the company offers various coverages such as Complex Commercial, Marine and Mining Industries, Energy, Aviation, Construction, Professional Liability, Professional Indemnity and Financial Services.
Mauricio Loyola, who was previously Prospect Brokers Chile’s owner, has over 25 years of experience in the insurance industry and will serve as Managing Director.
Loyola will report to Andrew Thacker, Executive Director, Chesterfield Group, London.
Thacker said: “Chesterfield Group has a strong presence and reputation in the London market and we are excited to now re-enter the Latin America market with our new office in Santiago, Chile.
“This venture will enhance our capabilities across our global companies, providing our clients and partners access to the Chile team’s expertise.”