Latin American reinsurance broker obtains Lloyd’s licence

Latin American reinsurance broker Baalnak has been approved to conduct open market business with Lloyd’s.

Baalnak stated that being a registered Lloyd’s broker reaffirms its position in the market. With over 21 years of service in the Miami market, the company has built strong relationships with significant clients in Latin America.

With its new status, Baalnak plans to leverage Lloyd’s extensive market resources and network to enhance its comprehensive reinsurance solutions.

As a certified Lloyd’s Coverholder, Baalnak has the authority to underwrite cargo, STP, and stock only risks up to $20,000,000.

Baalnak’s president, Miguel Gonzalez, said: “Becoming a Lloyd’s broker is a testament to our commitment to excellence and our continuous pursuit of growth and innovation. This achievement opens up new opportunities for us to deliver a wider range of alternative solutions to both our clients and underwriters.”

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