Caribbean Risk Group LLC. (CRG), the U.S. Virgin Islands-based insurance agency, announced the launch of its London operations, CRG International Ltd. The brokerage in London will act as an appointed representative of Lloyd’s broker Ramon International Insurance Brokers Ltd. CRG’s operations in London began on Feb. 10, 2023.
“We are delighted to have established our presence in London and to have Ramon as our partners. We believe through our Lloyd’s entity we represent a differentiated offering to the Caribbean market as we seek to widen our services to clients in the region,” commented Joe Brugos, president of CRG and chief executive officer of CRG International.
Lee Ellis, chief strategy officer at Ramon and chairman of CRG International, said: “CRG is an important strategic partner to Ramon and a vital component to our aspirations in the region. There is a natural symbiosis between our businesses and an obvious ability to create value for each other. This is a true partnership built upon the solid foundation of a trusted relationship. I am delighted we have been able to conclude this deal.”
CRG International Ltd. is majority owned by the partners of Caribbean Risk Group LLC., creating a Caribbean-owned Lloyd’s entity that offers a unique selling point to the region, the company said.
“We see many London brokers owning operations in the Caribbean, but what we do not see is Caribbean brokers owning operations in London. Key to the success of closing this deal was Ramon sharing the vision of CRG that the London operation should maintain a Caribbean identity,” Brugos added.
About Ramon International
Established in 1980, Ramon International is a Lloyd’s broker and a Kastor Group company with specialties across marine, property, casualty and treaty re/insurance. Headquartered in London, its client engagement spans five continents and is serviced through its local office and international partner network.
About Caribbean Risk Group
Caribbean Risk Group offers a wide range of insurance coverages including business and personal policies as well as charter and private pleasure yachts.
Source: Caribbean Risk Group
Topics Agencies Excess Surplus Lloyd's London
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