HDI Global has opened an operation in Lisbon, Portugal, which the company said will complement its existing customer and broker platform in Iberia.
It will provide the local market with access to HDI Global´s international programme network and its captive fronting and alternative risk transfer capabilities.
Nuno Antunes, current Iberia head of client strategy and Portugal country manager, will lead the new branch as managing director.
“Our focus will be on offering our clients and business partners innovative solutions, capital strength, stability, technical expertise, and reliable service, regardless of whether they operate internationally or solely in Portugal,” Antunes said.
“Thanks to our global network, we enable Portuguese clients and brokers to operate worldwide in a compliant manner.”
HDI had previously been operating in the Portuguese market for more than two decades under the European Union’s freedom of services.
The company’s wider portfolio will also be replicated in Portugal and will provide insurance for property damage and business interruption, casualty, energy and construction, marine, cyber, and specialty lines.
HDI Global plans to start its activity locally at the beginning of 2024 and is currently assembling its local team.
“The Iberian Peninsula and Latin America have long been a natural economic space, given its common languages, culture, and historical links,” Juan Aznar Gáldiz, managing director of the Spanish branch.
“Therefore, it is a natural step for us to continue growing and getting closer to our clients here.
“We are committed to providing outstanding and efficient insurance solutions to both our clients and broker partners in Spain and Portugal.”