Lloyd’s, the London-based global insurance marketplace, is opening an office in Miami in September.

The move aims to strengthen the market’s business in Latin America and the Caribbean while continuing to support growth in the Americas. Lloyd’s noted that the Latin America and Caribbean segment contributed $2.7 billion to gross written premiums (GWP) in 2023, representing 4.6% of Lloyd’s written pie.

According to the announcement, the establishment of the Miami office will enable Lloyd’s to streamline its resources to better support brokers, underwriters and managing agents across Spanish-speaking Latin America and the Caribbean. In addition, it is establishing another center in the Americas to improve service.

“Focusing our Latin American and Caribbean market development activities from Miami will consolidate Lloyd’s operations in the Americas across four offices in New York, Miami, Rio de Janeiro and Toronto; expanding the support and expertise that Lloyd’s provides to stakeholders and market participants, while supporting the ambitions of market in the region.

“The Miami office will also support market development across the US, as the long-line and redundant sector continues to grow, and there are opportunities to expand the Lloyd’s Academy and Lloyd’s Lab Innovation Centre, as well as supporting captive syndicates and multinational companies, the new capital.”

Likewise, Lloyd’s Chief Commercial Officer and CEO of the Americas Dawn Miller highlighted the benefits of opening the new building on 1 September.

“I am very excited about the opportunities our new center in Miami will provide for Lloyd’s as we are able to work more closely with our Latin American and Caribbean market,” she commented.

“We will also be able to provide broader support across the US, particularly in Florida and other states in the Southeast, which will enable us to continue to serve our customers in the Americas, a region that accounts for approximately two-thirds of Lloyd’s business.” beloved.”

What do you think about this story? Share your thoughts in the comments below.