Re/insurance Broker UIB Expands in South America With Launch of 2 Firms in Peru

United Insurance Brokers (UIB), the London-based international re/insurance broker, has announced an agreement to create two new companies in Peru, expanding the UIB Group footprint in South America.

UIB has taken an equity stake in the two Peruvian brokers. Financial details were not provided.

South Re, created by Jose Espinosa and Clara Escobar, and JEF Corredores de Seguros, headed by Ignacio Espinosa, will become UIB Corredores de Reaseguros and UIB Corredores de Seguros, respectively, as part of the group’s international expansion strategy.

“UIB’s global strategy has always been to enhance its international network by finding equally like-minded partners in the specialist services and markets that offer great value for our clients. In these latest deals, we have an equity position in these businesses, and this is not merely just a name change,” according to Tim Church, CEO of UIB International Ltd., in an emailed statement.

“We are delighted to welcome our friends Jose, Clara, Ignacio and their teams into the group. We have worked with them for many years, and we are impressed with their achievements,” Church said in the UIB release announcing the deals.

“We look forward to working together to enhance their services to the Peruvian market. The combination of local skills and knowledge together with the international reach of the UIB Group will offer a powerful capability to a wide range of clients,” he added.

UIB is an independent group and within the South American market offers re/insurance for a wide variety of industries, including aviation and aerospace, energy and construction, marine, specialty insurance, and treaty reinsurance.

Source: United Insurance Brokers

Topics Agencies Reinsurance