Insurance company H.W Kaufman has bolstered its footprint in the Americas with the acquisition of Chilean firm Prospect Brokers.
According to Reinsurance News, the acquisition will result in the rebranding of Prospect Brokers with its new name Chesterfield LatAm and will see the acquired firm relocating to a larger office location to support growth.
Prospect Brokers offers coverages including marine and mining industries, energy, aviation, professional liability, financial services, professional indemnity, construction and complex commercial.
The deal will also see Mauricio Loyola – previously the owner of Prospect Brokers Chile – move into the position as managing director of Chesterfield LatAm.
H.W Kaufman chairman, president and CEO Alan Jay Kaufman said, “This strategic opportunity with Prospect Brokers Chile now marks H.W. Kaufman Group’s presence in three continents.
“Chile has a well-established insurance market and we see great opportunity to build our team in the new location with plans to further expand into other countries in South America.”
Chesterfield Group executive director Andrew Thacker added, “Chesterfield Group has a strong presence and reputation in the London market and we are excited to now re-enter the Latin America market with our new office in Santiago, Chile.
“This venture will enhance our capabilities across our global companies, providing our clients and partners access to the Chile team’s expertise.”
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