Despite geopolitical and economic challenges putting some businesses off investing in Latin America, Daniel Revilla, Lloyd’s regional head of Latin America and the Caribbean (LAC), sees plentiful opportunities for underwriters and brokers with specialist expertise and an appetite for risk.
”Infrastructure investment is where I see the biggest opportunity for Lloyd’s,” says Revilla, who points to “important investments” in both traditional and renewable energy production.
He adds, “There are hydroelectric plants, there are nuclear plants even being thought about and discussed, and certainly in other areas of the infrastructure such as airports and train lines, as well as ports and highways. Every one of them is being developed in different shapes and forms across the region.”
Lloyd’s business in the LAC market continued to expand last year. Latin America grew by 11%, driven by Mexico, Brazil, and Chile, whilst the Caribbean region grew by 3%.
Revilla believes that the Lloyd’s market is ”uniquely positioned to take advantage of these great infrastructure investment opportunities because we have knowledge that is simply unparalleled.”
He notes that with deep energy infrastructure expertise, Lloyd’s market brokers and underwriters can shape the right risk transfer solutions.
“Lloyds has an enormous amount of knowledge both on the brokering side as well as in the underwriting side, so you have brokers are not necessarily brought up as brokers, they actually became engineers and they understand the challenges that the construction of a power plant will have.
“That knowledge is incredibly powerful at the onset of the creation of a project because they will be able to help minimise the risks, as well as find the the customised solution that will allow for the most effective transmission of the risks.”
