MDS continues Spain and LatAm expansion with key appointment

His primary focus will be identifying growth opportunities in the region

MDS continues Spain and LatAm expansion with key appointment

Insurance News

By Kenneth Araullo

MDS Group, part of The Ardonagh Group, has announced the appointment of Álvaro Mengotti to its executive board.

Mengotti joins MDS having previously served as chief international and reinsurance officer at March Risk Solutions, a subsidiary of Banca March Group. He also previously worked at AIG Iberia, where he led for 12 years and closely collaborated with MDS and the Portuguese market. Mengotti was also a part of the LATAM ExCo at AIG from 2012 to 2016 and began his career at Gil y Carvajal.

Mengotti’s professional journey includes significant roles in various trade associations. He has been a board member of the Spanish Insurance Employers’ Association UNESPA and served as vice president of the American Chamber of Commerce in Spain. His previous experience also includes a board membership at Reliance National Europe.

In his new role at MDS Group, Mengotti will work alongside Group CEO José Manuel Fonseca, Group CFO José Diogo Silva, and Group COO and Portugal CEO Ricardo Pinto dos Santos. His primary focus will be identifying growth opportunities in Spain and Latin America.

"The Latin American and Spanish markets are very relevant to MDS and The Ardonagh Group. Having Álvaro Mengotti on board, given his vast experience, will accelerate our growth in these regions, adding value to the business, our customers, and partners,” Fonseca said.

MDS Group's expansion under The Ardonagh Group, which began in December 2022, has seen significant development in Portuguese-speaking markets and beyond, including new ventures in Spain, Cyprus, and Latin America.

The group’s strategic growth included the acquisition of Renaissance, Cyprus's largest independent broker, in February, and a majority stake in RSG Corredores de Seguros in Chile in May. These acquisitions have expanded MDS Group's footprint in Latin America beyond Brazil and complemented Ardonagh’s existing presence through Price Forbes.

"MDS Group stood out among its international peers. I’m excited to join the team and capitalise on the opportunities across the markets where I’ve had the pleasure of working as an insurer, insurance, and reinsurance broker,” Mengotti said.

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