Bermuda-based Flagstone Reinsurance Holdings Limited has completed the formation of Flagstone Underwriters Latin America Limited A.I., a subsidiary licensed to conduct business from its offices in Puerto Rico.
The new facility expands Flagstone’s global underwriting platform and enlarges its business opportunities in property, specialty and casualty reinsurance in the Caribbean and Latin America, including Mexico.
Rafael Saer has been named as the CEO of the new operation. He has 29 years of experience in the region, most recently with Folksamerica Re where he was Sr. VP and Branch Manager, Latin America and Spanish Caribbean.
Flagstone’s Chairman, Mark Byrne, commented: “We have been in business in the Caribbean region for several years through our relationship with Island Heritage in the Cayman Islands. Our new operations in San Juan will allow us to build the team we need to underwrite and risk-manage the Spanish-speaking Caribbean and Latin America. We are delighted to welcome Rafael to our management team.”
Source: Flagstone Re – www.flagstonere.bm
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