RIO DE JANEIRO—Navigators Group Inc.’s Lloyd’s of London syndicate 1221 has become the latest Lloyd’s business to appoint a local representative in Brazil.

Lloyd’s has admitted reinsurer status in Brazil and opened there in April 2009.

Navigators said it had appointed a local representative for Brazil who would be named in due course.

“Having a qualified local representative in Rio de Janeiro will significantly improve our prospects of developing reinsurance business in the energy industry segment in which we specialize,” said Stephen Coward, president of Navigators Technical Risk in London, in a statement.

“Brazil is an attractive market opportunity for Navigators because of its rapidly expanding economy. The country has plans to invest in its infrastructure as well as in the energy industry over the next 10 years,” he added. “They are also the host country for the 2014 FIFA World Cup and the Olympic Games of 2016, which is expected to expand opportunities across the market. Over time, we expect that other Navigators products will also be introduced through this channel.”