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Lloyd’s of London has opened an office in Bogota, Colombia.
Juan Carlos Realphe serves as Lloyd’s Colombia country manager, according to Tuesday’s statement.
Lloyd’s insurers, Advent Capital Holdings Ltd. and Brit P.L.C. will be represented on the Lloyd’s Colombia platform alongside the Lloyd’s representative office, according to the statement.
“Colombia is a growing economy which is making significant investments for the future. However, insurance penetration is one of the lowest in Latin America, at only 1.6% of GDP,” John Nelson, Lloyd’s chairman, said in the statement. “As Colombia realizes its economic potential, insurance and reinsurance can play a key role in supporting this economic growth by improving resilience, taking risks out of the country, and helping the economy recover after catastrophes.”
The Foo Fighters rock band has filed litigation against Lloyd's of London underwriters and broker Robertson Taylor Insurance Brokers Ltd. over Lloyd's alleged failure to compensate it for shows canceled because of a band member's injuries, and the 2015 Paris terrorism attack.