Probitas 1492 has opened its office in Mexico City, becoming the first Lloyd’s syndicate to join the Representative Office of Lloyd’s in Mexico. The regional office will service the wider Latin America region.
Gabriel Anguiano, Head of Strategy & Business Development for Latin America, commented “We’re really excited to be opening the regional office, as part of our continued strategy to get closer to the source of business and further penetrate Latin America. We see this as a major step in establishing a local presence, with local people, local knowledge, local wordings in the local language. We see our presence in the region as a vital component in providing outstanding levels of service. The support we have had from cedents and brokers to date has been very encouraging. The new team is looking forward to continuing to develop and reinforce these relationships.”
The regional hub will initially provide facultative reinsurance for both casualty and property.
Gabriel Anguiano will lead the Mexico strategy spending time between London and Mexico City. He is joined by Property Underwriters, Roberto Gómez and Jocelyn Naranjo. Lorena Solís, Casualty Underwriter, completes the core team. Full technical underwriting support will be provided by Probitas’ London based Chief Underwriting Officers Jon Foley and Neila Buurman.
Ash Bathia, Probitas 1492 CEO, said “We are delighted to be the first Lloyd’s syndicate to build a local presence in Mexico to service the Latin American markets. This is a long term strategic play for Probitas and underpins the syndicate’s commitment to the region.”
Probitas 1492 have worked closely with Lloyd’s and Daniel Revilla, Lloyd’s Regional Head for Latin America and Lloyd’s Representative in Mexico, stated “Mexico is the largest source of premiums for Lloyd’s in Latin America, accounting for nearly a third of the region’s total premium. Having Probitas develop a local presence is fully aligned with Lloyd’s strategy in Latin America. Close proximity to local (re)insurance stakeholders will allow Probitas to conduct business that would not otherwise flow through the Lloyd’s market.”