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Latin America pulls in insurance firms as Kennedys launches in Bogota

Following recent news that insurance specialist Kennedys is to merge with Simpson & Marwick in Scotland, the firm announced on Friday (6 September) that it is to extend its reach into Latin America through an association with Bogota insurance boutique Botero Salazar Tobón & Abogados (BST).

Kennedys now has four associations in Latin America, complementing existing associations in Brazil with Fabio Torres & Associados Advocacia Empresarial in Sao Paulo and Rio de Janeiro, in Chile with Santiago based Acuña & Cia and in Mexico with Bufete Solís Marín.

According to Bernando Salazar, head of BST’s insurance practice, the two firms have worked closely together since 2006. The relationship has deepened since Kennedys launched a Latin America-focused office based out of Miami in 2010, which is headed by partner Alex Guillamont and supported by Colombian qualified associate Andrés Ávila who serves as liaison in Colombian cases.

‘This is a strategically important move for Kennedys and advances our already considerable capabilities across Latin America, said Kennedys senior partner Nick Thomas. ‘To expand our international reach is a big part of our strategy as a firm and Latin America is an area of increasing importance to insurers and reinsurers. We will continue to look for growth predicated on client need and strong market opportunities.’

The scope of insurance work for UK-based international firms in Latin America has continued to pull some of the most established players to the market, notably also outside of Brazil. DAC Beachcroft became the first UK firm to open in Chile earlier this year and has its own alliance in Colombia with De La Torre & Monroy. Clyde & Co has offices in Venezuela and Brazil, as well as contacts throughout the region.