31 January 2017Analysis

Charles Taylor opens new office as captive demand in LatAm grows

Charles Taylor, a professional services provider to the insurance market, has opened an office in Panama to market captive insurance services to businesses across Latin America.

This new office brings Charles Taylor’s network to 72 offices across 29 countries, with six now in Latin America.

William Wood, CEO of Charles Taylor Insurance Management (Bermuda), said: “The demand for captive management services is growing quickly in many Latin American countries. Our long-established captive management hub in Bermuda is based in a highly stable and well-regulated jurisdiction making it an attractive location for Latin American insurance business.”

Spearheading this new office is Alvaro Ortiz, who has been appointed as president and CEO of Charles Taylor RSLAC.

Ortiz has over 19 years of re/insurance experience, having most recently served as head of treaty underwriting for Latin American and Caribbean at Arch Reinsurance in Bermuda.

Prior to this, he held senior executive roles with Everest Reinsurance and Howden Broking Group in Latin America.

Wood continued: “I am very pleased that Alvaro Ortiz has joined Charles Taylor to establish our new Panama office and drive our captive management business development initiatives in Latin America. He has an outstanding record of business development.

“As a head of treaty underwriting Latin America and the Caribbean for Arch Reinsurance in Bermuda, he grew their treaty book from $6 million to $29 million. Alvaro’s expertise will be a huge asset to Charles Taylor and I look forward to working with him to develop our captive business across Latin America.”

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