WR Berkley sets up two Mexican companies; names heads

US insurer WR Berkley Corporation has formed two operating companies in Mexico after being granted authorisation by local regulator Comisión Nacional de Seguros y Fianzas (CNSF).

Berkley International Fianzas México will focus on surety business, while Berkley International Seguros México will offer a broad array of specialty commercial insurance products and services, according to the statement.

Guillermo Espinosa Barragan has been named general director of Fianzas México, and Javier Garcia Ortiz de Zarate has been named general director of Seguros México.

W Robert Berkley, Jr., chief executive officer and president of WR Berkley, commented: "Mexico is a vibrant market with relatively low insurance penetration that provides significant opportunities.

"Guillermo and Javier both have extensive knowledge of the surety and insurance markets, respectively, in Mexico, and their experience will enable us to develop a superior offering of products and services tailored to the specific needs of clients in the region. We are pleased to welcome them to our team."

Barragan has nearly 25 years of experience in the property casualty insurance industry, predominately focused in the surety segment. He most recently served as regional director for a Mexican surety subsidiary of a leading insurer.

Zarate most recently served as regional director for property casualty insurance in Mexico for an insurance company. He has over 15 years of experience in the property casualty insurance industry, predominately focused on underwriting in Mexico and Argentina.

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