The opening reflects the market’s sustained and profitable growth in the regions, these two regions now are fast-growing and accounted for 4.6% of gross written premium ($2.7bn) in 2023.

The new office will allow LLoyd’s to streamline its operations to centrally support brokers, coverholder and managing agents through Spanish speaking Latin America and also will create another hub in the Americas to service overall business.

The office will sit alongside Lloyd’s other offices in New York, Miami, Rio de Janeiro and Toronto, allowing enhanced support to stakeholders and supporting the market’s ambitions in the region.

Dawn Miller, newly appointed Chief Commercial Officer of Lloyd’s and CEO of LLoyd’s Americas, commented on the opening; “I’m incredibly excited about the opportunities that our new Miami hub will offer Lloyd’s as we are able to work more closely with our market in Latin America and the Caribbean. We’ll also be able to provide broader support across the US, particularly in Florida and other states in the Southeast, which will enable us to continue to serve our customers in the Americas, a region that accounts for nearly two thirds of Lloyd’s premium.”