DUAL Group has entered the Latin American market by acquiring Mexican MGA Dock Re and launching an office in Brazil.
DUAL Group, which is the international underwriting arm of Howden Group, now has a presence in 18 countries across the Americas, Europe, and the Asia Pacific.
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The acquired Mexican company is primarily focused on property, casualty, and financial business lines.
Headquartered in Mexico City, Dock Re is a Lloyd’s coverholder and is led by managing director, Gabriel Buzo.
DUAL’s newly opened office in São Paulo will be led by Francisco Vogt Marques.
Vogt Marques has more than two decades of experience in the country’s insurance industry across energy, P&C and reinsurance.
DUAL Group CEO Richard Clapham said: “I am absolutely delighted to have such a strong team on the ground in Latin America, which is a key insurance market with great potential.
“DUAL’s strategy has always been to deliver the best local underwriting expertise, supported by the strength and scale of our global business.
“The addition of outstanding local talent and greater product diversification will significantly enhance DUAL’s existing Latin American business written in London.”
In August this year, DUAL announced the acquisition of Align Financial Holdings for $800m.
Clapham stated that the acquisition of Align was a “transformational step for DUAL”, creating a $2bn GWP MGA and doubling its scale in the US.
