Kennedys is strengthening its presence in Latin America with the addition of an office in Argentina as its international expansion continues apace.
The Argentinian associate office, Alberto Bunge & Associates (ABA), will become a full Kennedys office from 1 January 2018. The office in Buenos Aires will become the sixth that Kennedys has opened in the region since July 2016 and will complement existing offices in Brazil, Chile, Colombia, Mexico, Peru and the regional Miami hub which opened in 2010.
The new office will be led by existing head of ABA, Alberto Bunge. Kennedys formed a formal association with ABA on 1 January 2016, and their existing team also comprises Virginia Couto and Marina Klein, both lawyers who specialise in insurance law.
The team will remain in their current office, located in Buenos Aires’ downtown quarter, within walking distance of a number of international insurers and reinsurers. ABA also has agents in other jurisdictions within Argentina, ensuring that clients will be able to access services outside of the capital as well.
The focus of the office will remain on larger and complex insurance and reinsurance matters, including coverage, defence and policy wording for all lines, particularly property and casualty, energy and financial lines. The office also has a strong regulatory practice, often working in tandem with the Miami office.
Argentina continues to be the third largest economy in Latin America, behind Brazil and Mexico in terms of both GDP and insurance and reinsurance premiums. A significant number of international insurers and reinsurers have local offices including Berkley, Chubb, Fairfax, Generali, IRB, Liberty, Mapfre, Munich Re, QBE, Sura, XL Catlin and Zurich, with many others also supporting the local market.
Nick Thomas, Senior Partner at Kennedys, said:
“Argentina is one of the largest insurance markets in the Latin American region, and there was a growing need from both existing and potential clients for us to have a full Kennedys presence available to them.
“Our Argentinian office will help secure Kennedys’ premiere position in the Latin America insurance market and adds to our considerable expertise across the region. I am very pleased to welcome Alberto and his team into the Kennedys family.”
Alex Guillamont, Head of Kennedys’ Latin America and the Caribbean practice said:
“Our combination of local, regional and global knowledge and expertise is valued greatly by our clients, who have influenced our decision in establishing a local presence in Buenos Aires.
The new office will now make us more accessible to international insurers and reinsurers operating in Argentina.”
Alberto Bunge said:
“We are very much looking forward to becoming part of Kennedys, as it will provide us with a competitive advantage through the knowledge and expertise we can draw on from its global network for the benefit of our clients. We have already received a lot of positive messages from clients who are equally excited about this development.”
The Argentina office will be located at: Av. Cordoba 817 piso 8° oficina “16” – C1054AAI, Buenos Aires.
This is the latest in a long line of global developments, including office openings this year announced in Bangkok, Bermuda, Melbourne, Mexico City and Paris.
Earlier this year Kennedys announced the completion of its merger with leading US insurance law firm Carroll McNulty & Kull, creating a global insurance practice; and in September completed a merger with UK-based commercial litigation specialists berg, which strengthened Kennedys’ global commercial litigation practice.