Kaufman buys Chilean specialty brokerage
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H.W. Kaufman Group Inc. said Tuesday it has expanded into South America by acquiring Santiago, Chile-based specialty brokerage Prospect Brokers Chile.
Terms of the transaction were not disclosed.
Prospect Brokers Chile has been rebranded as Chesterfield LatAm and has relocated to a larger office in Santiago to accommodate growth, H.W. Kaufman said in a statement.
Chesterfield Insurance Brokers Ltd., a Lloyd’s of London broker, is a subsidiary of Farmington Hills, Michigan-based H.W. Kaufman.
Mauricio Loyola, previous owner of Prospect Brokers, will serve as managing director and report to Andrew Thacker, executive director of Chesterfield in London.
Prospect Brokers offers various coverages including complex commercial, marine and mining, energy, aviation, construction, professional liability, professional indemnity and financial services.
This is the 11th international acquisition by Kaufman in the past nine years.
Chile has a “well-established insurance market,” and Kaufman plans to further expand into other countries in South America, Alan Jay Kaufman, chairman, president and CEO, said in the statement.
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