3 July 2017 Insurance

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."

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