LSM appoints head of new treaty reinsurance unit in LatAm

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, has promoted José Ernesto Ospina, formerly LSM’s general manager for Colombia, to the newly-created role of LatAm reinsurance regional manager.

The company has announced that it is revising its strategy for its Latin American treaty reinsurance business. Ospina will spearhead the unit reporting jointly to Kirk Maddern, LSM’s group COO in London, and Miguel Martinez, LSM’s head of reinsurance business development.

Ospina was previously with the World Bank as a risk transfer consultant, RI manager for Allianz and R&SA in Colombia and has over 30 years’ experience in the insurance market.

Dieter Winkel, president of Liberty Mutual Reinsurance (assumed reinsurance), said: "We were one of the first Lloyd’s insurers to have a physical presence in South America. Our aim was to explore the opportunities presented by the growth of these economies and to lay down a network of strong relationships with regional brokers.

"Eight years on we are seeking to build on those foundations by using the knowledge we have acquired to sharpen our underwriting focus and build our reputation as market makers in core areas in property, casualty and specialty."

LSM stated that it initially target Argentina, Chile, Colombia, Costa Rica, Mexico and Peru, and leverage its franchises in Brazil and Colombia, investing further in its regional business development programme.

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