SRS plans further Latin American expansion
A captive insurance company manager who successfully set up a number of Latin American captive insurers in Bermuda is setting up a regional office in Colombia to help Strategic Risk Solutions expand in the region.
SRS said Luis Delgado will relocate from Bermuda to Colombia to lead its efforts from a new regional office.
Delgado will be responsible for leading SRS’s business development strategies and the geographical expansion of the firm into Latin America.
“Over the past few years, we have seen record levels of captive formations, feasibility studies, and general interest and enquiries from prospects across Latam, so it makes sense to be closer to where our clients and prospects are located,” said Delgado. “Latam is producing strong growth in captive insurance, and we will focus on developing new captive formations from the region.”
Captives owned by parent companies from Mexico, Colombia, Peru, Brazil, and Chile have existed for several years. As the region matures in its endeavors with advanced business solutions, such as risk management and captives, the industry continues to grow, SRS said.
“Latin America represents an important region for SRS. We believe there are significant opportunities for Latam parent organizations to make greater use of captive insurance, said Brady Young, CEO of SRS. “Luis has developed a good foundation of Latam business for SRS operating from Bermuda as well as building on his captive management experience. Relocating to Colombia brings a greater local presence as we bring more support and resources to support captive insurance in the region.”
Delgado joined SRS in 2020 from JLT Group as vice president of SRS Bermuda captive management operations and responsible for the oversight of SRS’s growing Latam portfolio of clients. In his new role, SRS said he will continue to lead the dedicated team of Spanish speaking qualified accountants with captive insurance experience, but with boots on the ground to better service the Latam region.