SSL Endeavour to launch MGA in Miami, USA
Specialist independent Lloyd’s broker and delegated authority expert SSL Endeavour (SSL Endeavour) is to launch a managing general agent (MGA) based in Miami, USA and has made a trio of senior hires to support growth in Latin America.
Set for a January 1, 2020, start, the new operation will concentrate predominantly on building construction, energy and power generation business throughout Latin America, operating under a brand name that will be confirmed at launch.
The MGA launch follows agreement between SSL Endeavour and Hemispheric Reinsurance Group LLC (Hemispheric Re), an independent reinsurance capacity provider and broker based in Miami, to allow the release and smooth transition of former Hemispheric Re managing director Alvaro Gabaldon and Julio Velasquez to join SSL Endeavour’s Miami operation as managing director and senior underwriter respectively.
In addition. Amador Torrealba has joined the company’s London office as head of wholesale broking, Latin America. Most recently a senior consultant at W Denis Insurance Brokers, Torrealba’s new role will see him support the SSL Endeavour Miami MGA operation as well as the group in further developing business in the region.
“We are very pleased to be announcing our first step into Latin America, a fantastic milestone for SSL Endeavour as we continue our international expansion strategy, backed by JC Flowers,” said SSL Endeavour Group CEO David Lawrence. “Establishing an MGA in Miami will provide us with an agile platform to develop innovative new products and expand geographic coverage in the region, with the aim of developing high quality business for A rated paper in the Lloyds and company markets.
“We are delighted to have reached an agreement with Hemispheric Re and welcome Alvaro and Julio to the team in Miami, as well as Amador to our London office to direct Latin American wholesale broking for the group. Already we have built up strong relationships with our new colleagues and I am confident of a smooth transition of people from Hemispheric Re to SSL Endeavour in the days ahead.
“Backed by this entrepreneurial new talent, SSL Endeavour is now well-positioned to capitalise on strong growth opportunities in the region, and continue to build on the good work that Hemispheric Re achieved under its late and much respected Founder John Blake.”
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