Liberty Specialty Markets establishes Latin America focus

New arrival as company bolsters reinsurance business in area

Liberty Specialty Markets establishes Latin America focus

Insurance News

By Lucy Hook

Liberty Specialty Markets (LSM) has announced the creation of a new regional manager role as part of its strategy to bolster its reinsurance business in Latin America.

LSM, part of Liberty Mutual Insurance, has promoted José Ernesto Ospina, formerly the firm’s general manager for Colombia, to the newly-created role of LatAm reinsurance regional manager, the company revealed today.

The move comes as the business says it plans to refine its strategy in the region by “increasing focus, alignment and efficiency” in a number of areas within its Latin American treaty reinsurance operations.

Ospina will spearhead the efforts, reporting jointly to Kirk Maddern, LSM’s group COO in London, and Miguel Martinez, LSM’s head of reinsurance business development. He has previously held roles with the World Bank, Allianz and R&SA in Colombia, and has over 30 years’ experience in the insurance market.

President of Liberty Mutual Reinsurance, Dieter Winkel, said in a statement: “We were one of the first Lloyd’s insurers to have a physical presence in South America. Our aim was to explore the opportunities presented by the growth of these economies and to lay down a network of strong relationships with regional brokers.”

He went on to say: “Eight years on we are seeking to build on those foundations by using the knowledge we have acquired to sharpen our underwriting focus and build our reputation as market makers in core areas in property, casualty and specialty.”

LSM will focus its treaty reinsurance underwriting on Argentina, Chile, Colombia, Costa Rica, Mexico and Peru, and will leverage its franchises in Brazil and Colombia, investing further in its regional business development programme, the company said in a release.

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