The FINANCIAL — Patria Re given in principle approval to join Lloyd’s platform as a special purpose syndicate.
Lloyd’s is pleased to announce that it has given in principle approval for Patria Re, the Mexican insurance company, to join the Lloyd’s platform. Patria Re will set up a special purpose syndicate in partnership with Lloyd’s managing agent, Pembroke, designed to bring specialist Latin American business to the Lloyd’s market.
The Chairman of Lloyd’s, John Nelson, made the announcement this morning in Mexico City at an event to mark the opening of Lloyd’s Representative Office in Mexico. He said “This is excellent news. This is the first Mexican carrier to join the Lloyd’s platform and it coincides with the opening of our office here in Mexico. We look forward to working with Patria Re to enable them to start writing business from 1st January 2016.”