Latin Re, an independent brokerage founded in 2019, becomes the first Brazilian broker to obtain a license to operate directly at the specialist Lloyd’s insurance and reinsurance marketplace.
Operating directly at Lloyd’s allows Latin Re to sell reinsurance risks from across Latin America directly to London underwriters. This market opening brings a series of benefits, both for local insurers and end customers.
The company says that it is prepared to offer customized and innovative solutions, combining local knowledge with Lloyd’s international reinsurers.
Latin Re has an experienced team of professionals with over 15 years in the insurance and reinsurance market.
Maria Eduarda Bomfim, CEO, Latin Re, commented, “We are extremely proud to be the first Brazilian brokerage to obtain a license to operate directly at Lloyd’s. It is a significant milestone for Latin Re and the Brazilian insurance and reinsurance market as a whole. This achievement demonstrates our expertise and commitment to providing high-quality solutions to our clients.”
Felipe Aragão, CCO of Latin Re, highlights the importance of this for the company’s future, “Operating directly at Lloyd’s provides us with a unique competitive advantage. We are prepared to offer London underwriters reinsurance risks from across Latin America, providing customized and innovative solutions that meet specific market needs.
“This license is recognition of our commitment to excellence and the ability to provide innovative and tailor-made reinsurance solutions to clients in Latin America. We are ready to expand our operations and strengthen our presence in the international market, contributing to the growth and improvement of the sector as a whole.”
With its lean cost structure, Latin Re says that it is prepared to take up medium-sized premiums, providing a wide range of business opportunities in the insurance and reinsurance market.
Rafaela Barreda, Director of Lloyd’s in Brazil, emphasizes this milestone’s importance in the Brazilian market, “We are excited to work with LatinRe, who have extensive experience and regional knowledge of the Latin American reinsurance market. This will support Lloyd’s in meeting the evolving needs of the region, while simultaneously strengthening our relationships with local insurers, retail brokers and reinsurers.”
This achievement represents a milestone in Latin Re’s journey and reaffirms its commitment to providing high-quality services and innovative solutions to its clients throughout Latin America.
“This achievement is the result of the hard work of the entire Latin Re team. We are very proud to be pioneers in this historic milestone for the brokerage and the Brazilian market. We are excited about the opportunities this license will provide us and eager to work closely with Lloyd’s”, concluded Bomfim.
