Charles Taylor Adjusting eyes bigger slice of LatAm market

Charles Taylor Adjusting is doubling down on Latin America, with Brazil central to its growth plans. The company has been steadily expanding in the region, culminating in the recent opening of a new office in Rio de Janeiro – one of LatAm’s key aviation hubs.

“This is about our expansion plan in Latin America and Brazil, which has been growing steadily in recent years,” Fernando Leon, managing director, told Miami Reinsurance Week Today.

“It’s a growing market for aviation. This is a great opportunity for us.”

Reflecting on the company’s journey in Brazil, Leon recalled how it began nearly a decade ago with a small office. Now, with aviation identified as a major growth sector, the firm is deepening its local presence.

“Sometimes, as a company with headquarters in the UK, we don’t fully grasp all the local requirements,” Leon admitted. “Brazil presents its own set of challenges, mainly due to its unique culture and language. That’s why we’ve identified the need for a local presence, with people who truly understand the market.”

Despite these challenges, the opportunities are significant. “It’s a growing market for aviation,” he said. “New clients are expanding their services beyond Latin America to Europe and Asia. This is a great opportunity for us.”

Beyond Brazil, Charles Taylor is also strengthening relationships in Miami, where Leon has been keen to reconnect with key clients.

“It’s not like traditional industry events that last for a few days with large exhibition stands. Here, everything happens quickly – just three or four hours per event. It’s a different way of engaging with clients, but an excellent one,” he noted.

Attending Miami Reinsurance Week also reinforces the company’s long-standing commitment to LatAm. “Charles Taylor has been in the market for 140 years. Our goal is to continue building trust and confidence with our clients,” Leon stated.

New risks and new solutions

Looking ahead, Leon sees immense potential in LatAm’s evolving risk landscape, particularly in cyber.

“With the rise of autonomous vessels, ships and connected infrastructure, exposure to cyber threats is growing. We are actively training the next generation of experts in this field and developing tools to predict potential damage and exposure,” he said.

On the claims handling front, technology is playing an increasing role. “We’ve been developing an online tool for catastrophe claims, particularly in Mexico, where we manage claims for the government. Using historical data, we can predict the impact of hurricanes on key infrastructure like hospitals, schools, marinas and hotels, allowing clients to prepare financially for potential disasters,” Leon shared.

Additionally, remote inspection technology has proven invaluable. “During the floods in Brazil, our remote inspection tool was crucial. Although access to affected areas was impossible, mobile networks were still operational. This allowed us to conduct inspections remotely, impressing clients with our efficiency in establishing claim reserves,” he explained.

As Charles Taylor pushes ahead with its LatAm strategy, Leon is confident about the road ahead. “We already have a strong presence in Latin America. In the next few years, we want to be one of the best options for clients when it comes to claim services,” he concluded.

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