Ryan Specialty Group is launching its first Latin America-focused managing general underwriter.
The company explained that the MGA – Capital Bay Underwriting, LLC – will concentrate on financial lines (re)insurance products for financial institutions and commercial entities across Latin America and the Caribbean.
Capital Bay is supported by “A” rated or better carriers and is a Lloyd’s Coverholder.
The products offered by the Miami, FL-based MGA include:
- Directors & Officers’ Liability
- Employment Practices Liability
- Bankers Blanket Bond and Electronic & Computer Crime
- Financial Institutions Professional Indemnity
- Investment Managers Insurance
- Private Equity / Venture Capital
- Commercial Crime
- Commercial Professional Liability
Capital Bay is a part of RSG Underwriting Managers (RSGUM), a release said.
Pascal Alvarez will serve as president and CEO of Capital Bay, where he will be responsible “for all aspects of the business growing initially in Latin America and the Caribbean, focusing on D&O, Professional Indemnity and Crime.”
David Gonzalez has been tapped to fill the role of chief underwriting officer of Capital Bay.
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