Kaufman buys Chilean specialty brokerage – company insurance
H. W. Kaufman Group Inc. announced Tuesday that it has expanded into South America through the acquisition of Santiago, Chile-based specialty brokerage firm Prospect Brokers Chile.
The terms of the transaction were not disclosed.
Prospect Brokers Chile has been renamed Chesterfield LatAm and has moved to a larger office in Santiago to accommodate growth, H.W. said Kaufmann in a statement.
Chesterfield Insurance Brokers Ltd., a broker for Lloyd’s of London, is a subsidiary of H.W. Merchant.
Mauricio Loyola, previous owner of Prospect Brokers, will serve as Managing Director reporting to Andrew Thacker, Executive Director of Chesterfield in London.
Prospect Brokers offers a variety of coverage including complex commercial, marine and mining, energy, aerospace, construction, professional liability, professional liability and financial services.
This is the eleventh international acquisition by Kaufman in the past nine years.
Chile has a "well-established insurance market" and Kaufman plans to expand to other countries in South America, Alan Jay Kaufman, chairman, president and CEO, said in the statement.