Capsicum Re has launched Capsicum Re Latin America (CRLA) in a bid to become a full service, international, challenger reinsurance broker.
Joe Smith, who has been appointed CEO of CRLA, will lead the new business.
Smith will be based in Miami. In addition, Luiz Araripe has been appointed as managing partner of CRLA and CEO of CRLA Brazil. He will be located in Rio de Janeiro.
Previously, Smith served as CEO of Aon Benfield Chile and brings over 20 years of reinsurance broking experience to his new role. Araripe served as chief commercial officer for Aon Benfield Brazil.
Rupert Swallow, CEO of Capsicum Re, said: “Launching CRLA heralds a new chapter in the Capsicum Re story.”
He added: “I look forward to working with [Smith and Araripe] and collaborating with Arthur J. Gallagher’s Latin America team, to deliver innovative solutions that fulfil the growing demand for specialist reinsurance products in this market.”
