Kennedys has opened an office in Miami to target insurance work emerging from the Latin American markets.
The firm has relocated Madrid partner Alex Guillamont to lead the new office, in the role of director of Kennedys Latin America. He will be joined by associate Paula Jimenez and business manager Karla Salguero.
The office will be supported by the firm’s international insurance practice, which is headed by Nick Williams and senior partner Nick Thomas, both of whom are based in London.
While the office will not advise on US law, the firm aims to serve clients based in Miami who work in the international reinsurance markets.
The Latin American insurance markets have expanded significantly over the last decade and the region is seen as a key reinsurance market.
Last year, Lloyd’s of London opened an office in Brazil, making it the first admitted reinsurer in the country. Lloyd’s Brazil allows syndicates and Lloyd’s managing agents to offer reinsurance in the country. It is this work that Kennedys is hoping to capture in Miami.
The firm, which reported a 31 per cent rise in turnover to £88.25m for the 2009-10 financial year, has invested heavily in its domestic offering over the last year. This included the hire of eight partners and 70 staff from Halliwells to launch a base in Sheffield and new offices in Manchester and Taunton.
This is the firm’s first international opening since its launch in Singapore, another core insurance market, in 2008 (18 September 2008).