Lloyd’s broker Price Forbes opens Chile office through acquisition
Specialist Lloyd’s broker Price Forbes Holdings said July 3 that it is entering the Chilean market by acquiring an equity interest in reinsurance broker Cooper Gay Chile.
The Chile operation is led by Luc Van Eyghen, who with the support of Price Forbes will continue to grow the business and expand the specialist services it offers.
Greg Ferguson, managing director international at Price Forbes will join the board of the company which has already initiated process to file the new name Price Forbes Chile.
“We are delighted that Price Forbes has taken an investment in our business,” said Van Eyghen.
“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."
Michael Donegan, CEO Price Forbes, 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."
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."
Use code "Save20" and to save 20% on selected tickets for for Intelligent InsurTECH Europe 2017 - Offer ends July 15th
Today’s stories
Lloyd’s appoints Hiscox's Childs as deputy chairman
The Hanover and Chaucer acquire Australian Lloyd's MGA
ArgoGlobal targets expansion in European MGA market
Compre launches Maltese insurance company for London business
Markel hires Tokio Marine and Travelers execs to expand media offering
Reinsurance rates deteriorate in July renewals due to overcapacity
Brit's former head of claims joins Standard Syndicate 1884
US P&C prices drop while motor rates rise
Unipol reorganises insurance operations
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk