Insurance specialist Kennedys has continued its foray into Latin America (LatAm), opening its first greenfield sites on the continent with offices in both Brazil and Peru.
In Brazil Kennedys is opening an office in São Paulo which will be led by Fabio Torres, who will offer consultancy and risk management advice to (re)insurance clients. In addition Kennedys will keep its existing formal association with TM Law, in both Rio de Janeiro and São Paulo, of which Torres was a lead partner. TM Law practices civil, commercial and corporate law, with a special focus on the (re)insurance industry.
In Peru the firm is opening an office in Lima, which will be headed up by Marco Rivera Noya (pictured) who joins from Osterling Abogados. He will be supported by associate Jorge Mere, who has transferred from Kennedys’ Miami office, and attorneys Noriko Hasegawa and Alonso Barreda. The office in Lima will focus on insurance and reinsurance, with a particular emphasis on regulatory matters and claims requiring local and international arbitration
Senior partner Nick Thomas said that Kennedys would continue to look for growth driven by client need and strong market opportunities in the region.
Kennedys Americas head Alex Guillamont added: ‘Brazil and Peru are two of the top five economies in Latin America in terms of GDP and (re)insurance premium, and a number of our global (re)insurance clients have offices in these important jurisdictions.
‘After several decades of providing legal advice from London, Madrid and Miami, the time has come to take the next step and be even closer to our clients to optimise the quality of our services.’
The firm has a number of existing LatAm tie-ups, forming its fifth association in February in Argentina with local firm Alberto Bunge & Asociados (ABA).
The firm also has an association with Mexican firm Bufete Solís Marín, as well as Chilean insurance boutique Sateler Depolo Diemoz.
Last month Kennedys announced solid revenue growth of 7% for this financial year from £129.9m to £138.8m. In addition, the firm’s UK figure has topped £100m, with turnover at £102m from £99.6m.
According to the firm, the strongest growth was in the Asia Pacific region, with the firm’s Singapore office increasing 144% from £3.2m to £7.8m as a result of strong aviation growth and Kennedys’ joint law venture agreement with Singapore firm Legal Solutions which the firm secured in March 2015.