Independent, specialist Lloyd’s of London brokerage, Price Forbes Holdings Limited (Price Forbes), has entered the Chilean market via the acquisition of an equity interest in reinsurance broker Cooper Gay Chile, which serves large corporate clients and reinsurance markets in the country.
The company’s strategic entry into the Chilean marketplace will be led by Luc Van Eyghen, who will work to continue the expansion of the business and the specialist services in the region, with the support of Price Forbes.
The company has revealed that the initiation of the process to change its name to Price Forbes Chile, has already began. Furthermore, Greg Ferguson of Price Forbes will join the Board of the new unit.
Luc Van Eyghen, commented; “We are delighted that Price Forbes has taken an investment in our business. We have been working closely together for some time and this cements that relationship. Their involvement will provide access to expertise in specialist classes of business which will help us to support our clients and develop new business. We look forward to a successful partnership together.”
Managing Director, International, Price Forbes, Ferguson, said; “This is an exciting international investment outside of our core business platforms and is a clear message of our ambition to enter into strategic markets. The robust platform gives us a spring board in to a market place where we see great opportunity to jointly grow our brand and the current portfolio with innovative solutions combining Price Forbes’s capabilities.”
Chief Executive Officer (CEO) of Price Forbes, Michael Donegan, added; “We were attracted to the quality of the leadership, the reputation of the people and its business and the value that Price Forbes as a group can bring to help local clients gain independent expertise and international market access. We are looking forward to working with Luc and his team to help develop our combined presence in Chile.”