SRS Appoints Luis Delgado To Lead Expansion in Latin America

Independent insurance company manager Strategic Risk Solutions (SRS) has expanded further into Latin America with the appointment of Luis Delgado as Latin America regional director.

In his new role, Mr. Delgado will be responsible for leading SRS's business development strategies and the geographical expansion of the firm into Latin America.

"Over the past few years, we have seen record levels of captive formations, feasibility studies, and general interest and inquiries from prospects across Latam, so it makes sense to be closer to where our clients and prospects are located," Mr. Delgado, who has relocated to Colombia to establish SRS's presence in the region, said in a statement. "Latam is producing strong growth in captive insurance, and we will focus on developing new captive formations from the region."

Captives owned by parent companies from Mexico, Colombia, Peru, Brazil, and Chile have existed for several years, the SRS statement noted. As the region matures in its endeavors with advanced business solutions, such as risk management and captives, the region's captive insurance industry continues to grow.

"Latin America represents an important region for SRS. We believe there are significant opportunities for Latam parent organizations to make greater use of captive insurance," Brady Young, CEO of SRS, said in the statement. "Luis has developed a good foundation of Latam business for SRS operating from Bermuda as well as building on his captive management experience. Relocating to Colombia brings a greater local presence as we bring more support and resources to support captive insurance in the region."

Mr. Delgado joined SRS in 2020 as vice president of SRS Bermuda captive management operations and has been responsible for the oversight of SRS's growing Latin American portfolio of clients. In his new role, he will continue to lead the dedicated team of Spanish-speaking qualified accountants with captive insurance experience but with boots on the ground to better service the Latin America region, SRS said.

SRS provides management and consulting services to a wide range of insurance company structures, from single-parent captive insurance companies to complex commercial insurers and reinsurers. SRS has operations in the United States, Europe, Barbados, Bermuda, Canada, the Cayman Islands, and South Africa.