15 July 2015 Insurance

Lloyd’s unveils Colombia representative office

Lloyd’s has received approval from the Colombian authorities to open a representative office in Bogotá.

Under the licence, Lloyd's syndicates will be able to establish business development and underwriting functions in the Lloyd's Colombia offices and provide onshore reinsurance.

Juan Carlos Realphe has been appointed as Lloyd's first general representative responsible for market development and liaising with regulatory authorities and Lloyd's business partners to enhance Lloyd's presence in Colombia.

He joined Lloyd's in early 2015 from Willis Colombia where he served as placement leader, vice president and interim chief executive officer.

Realphe said: "I am delighted to be appointed as Lloyd's first representative in Colombia and I look forward to establishing Lloyd's presence in Bogotá. Lloyd's will bring valuable capacity and specialist expertise to the Colombian market and there are strong growth opportunities for Lloyd's, particularly in property and liability lines."

Daniel Revilla, Lloyd's head of operations and strategy, global markets, added: "Lloyd's is strengthening its presence and offering in Latin America. We recently received approval for our representative office in Mexico and will now move to establish a presence in Colombia giving local clients increased access to Lloyd's expert underwriters and tailored risk solutions. I look forward to working with Juan Carlos to support Lloyd's development in Colombia."

Vincent Vandendael, Lloyd's director, global markets, said: "Lloyd's has delivered on the market's desire for a presence in Colombia as part of our Vision 2025 strategy to increase our support to the world's fastest growing economies. It gives me great pleasure to welcome Juan Carlos as our first Colombian representative and see the next phase in Lloyd's Latin American growth strategy fall into place.”

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