Allianz Commercial establishes Miami hub to deepen LatAm footprint

Jennifer Davis ; 2025-12-07 23:48:28

Region's low insurance penetration presents significant possibilities

Insurance News

By Kenneth Araullo

Nov 25, 2025Share

Allianz Commercial will open a Latin America hub in Miami in February 2026, the global insurer has announced.

The office will centralize resources and expertise to engage with brokers, clients, and partners across Latin America and the Caribbean, while building on the company's presence in Brazil, Mexico, Argentina, and Colombia.

Allianz Commercial plans to expand facultative reinsurance offerings across property, construction & natural resources, financial lines including cyber, marine, and multinational services into markets such as Chile, Peru, Ecuador, and Panama.

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The insurer’s expansion reflects broader industry interest in Latin America despite challenging near-term conditions. In its recent insights, Swiss Re projects total insurance premiums in the region will grow 3.8% in real terms in 2025, down from 7.6% in 2024, as geopolitical tensions and inflation pressures constrain economic growth.

Read more:Geopolitical tensions and inflation threaten LatAm growth

However, beneath the slower premium growth lies a significant opportunity for re/insurers: insurance penetration remains below 5% of GDP, yet demand for capacity is rising substantially, driven by recent catastrophe experience and shifting risk management practices.

David Colmenares (pictured above, left), commercial managing director for Latin America at Allianz Commercial, said: "The Miami hub represents a strategic investment in our Latin American operations. This office will strengthen our regional capabilities and enable us to deliver enhanced service and technical expertise to our brokers and clients in the region."

Shanil Williams (pictured above, right), president, commercial, Americas at Allianz Commercial, said that the Miami office represents a major milestone for the group, with the region characterized as "one of the largest and most mature global commercial insurance and reinsurance hubs."

The expansion also comes amid a major financials surge for Allianz SE, with the insurance group reporting strong insurance performance in the third quarter. The company has raised its full-year operating profit guidance to at least €17 billion, reflecting the momentum across its insurance operations.