Lloyd’s, a leading global insurance and reinsurance marketplace, will open a new office in Miami to enhance its business in Latin America and the Caribbean and support sustainable growth in the Americas.
This region, a significant and rapidly expanding market for Lloyd’s, contributed 4.6% of gross written premium ($2.7 bn) in 2023.
The Miami office will centralize support for brokers, coverholders, and managing agents in Spanish-speaking Latin America and the Caribbean, creating an additional hub for Lloyd’s operations in the Americas (see about Global Reinsurance Market 2024).
This new office will complement existing locations in New York, Rio de Janeiro, and Toronto, broadening the support and expertise available to stakeholders and market participants, and aligning with Lloyd’s regional ambitions.
The Miami office will facilitate market development in the US, particularly in the growing excess and surplus lines (E&S) sector.
It will also offer opportunities to expand the Lloyd’s Academy, Lloyd’s Lab innovation hub, and support captive syndicates, multinational business, and new capital ventures.
“We are able to work more closely with our market in Latin America and the Caribbean. We’ll 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 nearly two thirds of Lloyd’s premium”, says Dawn Miller, Chief Commercial Officer of Lloyd’s and CEO of Lloyd’s Americas.
