15 February 2023Insurance

Caribbean broker CRG launches London market operations

Caribbean Risk Group (CRG), a US Virgin Islands-based insurance agency, has launched its London operations, CRG International. The company’s CEO says, “we see many London brokers owning operations in the Caribbean, but what we do not see is Caribbean brokers owning operations in London”.

The brokerage in London will act as an appointed representative of Lloyd’s broker Ramon International Insurance Brokers Ltd. CRG’s operations began February 10, 2023.

CRG International is majority owned by the partners of Caribbean Risk Group, creating a Caribbean-owned Lloyd’s entity offering a unique selling point to the region.

Joe Brugos, president of CRG and chief executive officer of CRG International, said: “We are delighted to have established our presence in London and to have Ramon as our partners. We believe through our Lloyd’s entity we represent a differentiated offering to the Caribbean market as we seek to widen our services to clients in the region.”

Lee Ellis (pictured), chief strategy officer at Ramon and chairman of CRG International, added: “CRG is an important strategic partner to Ramon and a vital component to our aspirations in the region. There is a natural symbiosis between our businesses and an obvious ability to create value for each other. This is a true partnership built upon the solid foundation of a trusted relationship. I am delighted we have been able to conclude this deal.”

Brugos added: “We see many London brokers owning operations in the Caribbean, but what we do not see is Caribbean brokers owning operations in London. Key to the success of closing this deal was Ramon sharing the vision of CRG that the London operation should maintain a Caribbean identity.

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