H.W. Kaufman Group, a global insurance corporation based in Farmington Hills, announced today it is expanding into South America through the acquisition of Prospect Brokers Chile, a full-service specialty insurance distribution brokerage firm headquartered in Santiago, Chile.
“This strategic opportunity with Prospect Brokers Chile now marks H.W. Kaufman Group’s presence in three continents,” says Alan Jay Kaufman, chairman, president, and CEO of H.W. Kaufman Group. “Chile has a well-established insurance market and we see great opportunity to build our team in the new location with plans to further expand into other countries in South America.”
The acquisition resulted in rebranding Prospect Brokers Chile as Chesterfield LatAm (Latin America) and relocating to a larger office location to accommodate expected growth. Chesterfield, a Lloyd’s insurance and resinsurance broker in London, is a subsidiary of Kaufman.
The company offers various coverages, such as complex commercial, marine, mining, energy, aviation, construction, professional liability, professional indemnity, and financial services. Mauricio Loyola, the previous owner of Prospect Brokers Chile, has over 25 years of experience in the insurance industry and will serve as managing director.
This is the eleventh international acquisition by Kaufman in the past nine years, as the company follows a strategic growth plan that expands its services and resources to a growing base of international clients.
“Chesterfield Group has a strong presence and reputation in the London market and we are excited to now reenter the Latin America market with our new office in Santiago, Chile,” says Andrew Thacker, executive director of Chesterfield Group in London. “This venture will enhance our capabilities across our global companies, providing our clients and partners access to the Chile team’s expertise.”
The new office is located at Cruz del Sur #133, Oficina 301, Las Condes, Santiago, Chile.
H.W. Kaufman Group International, Kaufman’s global business unit, includes H.W. Kaufman Group Europe, Chesterfield Group, Chesterfield LatAm, Lochain Patrick, Burns and Wilcox United Kingdom, Node International, and Cranbrook Underwriting.