WR Berkley has established a pair of operating companies as the US specialty carrier looks to boost its presence in the region.
Berkley International Fianzas México will specialise in surety business and will be led by Guillermo Espinosa Barragan, who was most recently regional director for a Mexican surety subsidiary of a leading insurer and has almost 25 years of experience in the P&C industry, chiefly in the surety space.
Meanwhile, Javier Garcia Ortiz de Zarate has been appointed general director of Berkley International Seguros México, which will focus on specialty commercial insurance products and services.
Garcia has over 15 years of experience in the P&C industry, largely focused on underwriting in Mexico and Argentina. Prior to WR Berkley, Garcia was regional director for P&C coverage in Mexico for a major insurer.
WB Berkley said that both companies will begin offering products to the Mexican market in the “next few weeks”.
Commenting on the announcement, WR Berkley president and CEO Robert Berkley Jr described Mexico as a “vibrant” market, adding that relatively low insurance penetration in the country provides “significant opportunities”.
“Guillermo and Javier both have extensive knowledge of the surety and insurance markets, respectively, in Mexico, and their experience will enable us to develop a superior offering of products and services tailored to the specific needs of clients in the region,” he said.