Lloyd’s said it has strengthened its presence in Spain by appointing a full-time representative. The move is part of its strategy to expand its presence in the Spanish market, said Lloyd’s.
Speaking at a seminar to mark the expansion, Lloyd’s chairman Lord Levene, said: “Full-time representation in Spain is further evidence of Lloyd’s commitment to the Spanish insurance market, and part of our strategy for building Lloyd’s presence in Europe.
“Economically, Spain is one of the best and most consistent performers in the European Union, and its insurance needs are growing fast as a result. Increasingly, Spanish companies are operating around the world and require solutions for the new risks they encounter.
Lloyd’s business in Spain increased by 63% between 2001 and 2003, it said. It exceeded €100m in 2002 and reached €157m in 2003.
In January 2004, Lloyd’s opened a new Spanish subsidiary, Lloyd’s España, and appointed David Battman as managing director.
Battman, who was formerly Lloyd’s representative in Singapore and managing director of Lloyd’s Asia, will head up work to promote and defend Lloyd’s interests in Spain and the rest of Iberia.
Pablo Wesolowski, managing partner of Davies Arnold Cooper in Spain, who was previously Lloyd’s Representative in Spain will continue to actively advise and assist Lloyd’s in his new role as non-executive chairman of Lloyd’s España.
Speaking on Lloyd’s role in Spain, Levene said: “Lloyd’s is a niche insurer focused on speciality products including reinsurance, niche or complex liability products, large property risks, and other commercial insurance.
“Here in Spain, we rarely find ourselves competing with local risk carriers. Instead we prefer to fill in the gaps which local companies are unable or unwilling to fill.
