Pro Global is expanding in Latin America with fresh investment in its Buenos Aires regional head office, as carriers, brokers, and MGAs across the insurance sector turn increasingly to outsourced and hybrid operating models to protect margins in a softening market.
The company has operated in the region since 1999. Its Buenos Aires office has grown from roughly 45 employees in 2024 to 75 today, and Pro Global expects to add another 100 roles during 2026. The team has moved into a new office with capacity to support the planned growth.
The expansion comes as delegated authority business continues to reshape the London market. Oxbow Partners data showed premiums in the channel more than doubled from £10.4 billion in 2018 to £22.1 billion in 2023, lifting delegated authority's share of the Lloyd's market from 30% to over 40%.
Projections suggest it will exceed 45% by 2027. That growth has intensified the operational burden on bordereaux processing, claims support, and technical accounting, all of which are core services handled out of Pro Global's Argentina hub.
Martin Smith, director of Latin America at Pro Global, said the hybrid model pairs in-market relationship management teams in the UK, US, and Europe with bilingual specialist teams in Buenos Aires. Client-facing oversight and underwriting decisions stay onshore, while high-volume processing moves to Argentina.
"By blending local oversight with scalable offshore expertise, Pro Global enables clients to improve turnaround times, enhance resilience and achieve measurable cost efficiencies," Smith said.
The commercial insurance market has cooled markedly. The Council of Insurance Agents and Brokers reported that US commercial property and casualty premiums rose just 0.2% on average in the fourth quarter of 2025, down from 1.6% in the third quarter. Nine lines of business recorded premium decreases.
PwC research has found that leading insurers operate at an average expense ratio of 24%, compared to 32% for laggards. For a mid-sized insurer writing $1 billion in premiums, that gap can translate to $80 million in additional operational costs annually.
Smith said clients are increasingly weighing cost, time zone alignment, and skill availability when structuring their operations. "The trust built through consistent delivery performance is now translating into meaningful expansion across both existing and new client relationships," he said.
Steve Lewis, CEO of Pro Global, said Latin America has become a more significant part of the company's international delivery model. Continued investment in Argentina reflects both the regional talent pool and rising client demand for flexible operating support.
"Across the insurance sector, firms are under increasing pressure to improve efficiency while maintaining specialist expertise and service quality," Lewis said. He described the hybrid model as a way for clients to meet that challenge while operating more efficiently across shifting market conditions.
