SSL Endeavour, the specialist independent Lloyd’s broker and delegated authority expert, is set to establish a Miami-based managing general agent focused on building construction, energy and power generation business throughout Latin America.
Due to launch on 1 January 2020, the MGA will exist under a yet-to-be-confirmed brand name.
SSL Endeavour says it has reached an agreement with Miami-based broker Hemispheric Re to allow two senior members to join the new office.
Alvaro Gabaldon and Julio Velasquez will join SSL Endeavour’s Miami operation as managing director and senior underwriter respectively.
Separately, Amador Torrealba has joined the company’s London office as head of wholesale broking, Latin America.
Most recently a senior consultant at W Denis Insurance Brokers, Torrealba’s new role will see him support the SSL Endeavour Miami MGA operation as well as the group in further developing business in the region.
“We are very pleased to be announcing our first step into Latin America, a fantastic milestone for SSL Endeavour as we continue our international expansion strategy, backed by JC Flowers,” said SSL Endeavour Group Chief Executive Officer David Lawrence.
“Establishing an MGA in Miami will provide us with an agile platform to develop innovative new products and expand geographic coverage in the region, with the aim of developing high quality business for A rated paper in the Lloyds and company markets.”
“We are delighted to have reached an agreement with Hemispheric Re and welcome Alvaro and Julio, to the team in Miami, as well as Amador to our London office to direct Latin American wholesale broking for the Group,” Lawrence noted.
“Already we have built up strong relationships with our new colleagues and I am confident of a smooth transition of people from Hemispheric Re to SSL Endeavour in the days ahead.
“Backed by this entrepreneurial new talent, SSL Endeavour is now well-positioned to capitalise on strong growth opportunities in the region, and continue to build on the good work that Hemispheric Re achieved under its late and much respected Founder John Blake.”
Alvaro Gabaldon, Managing Director of SSL Endeavour’s Miami MGA, added,
“Buoyed by the strength of our accomplishments in the last 12 months at Hemispheric Re, I’m extremely excited to join SSL Endeavour Group at such an evolutionary moment for the Group, and amid strong demand in our target market.
“I am looking forward to working with such a distinguished team of executives and being part of this innovative and focused global venture, as well as continuing to grow our high calibre network of business partners and associates across Latin America.”