Insurer HDI Global Opening New Branch Office in Portugal

Industrial lines insurer HDI Global SE has received regulatory approval to open a new branch office in Lisbon, Portugal.

HDI Global has already been operating in the Portuguese market for more than 2 decades under freedom of services provisions. In a statement, HDI Global said the new office in Lisbon comes as a natural evolution of that business and will complement its existing customer and broker platform on the Iberian Peninsula, allowing HDI Global to move closer to its Portuguese customers.

The company plans to begin activity in the Lisbon office at the start of 2024 and is currently assembling a local team that will focus on providing tailored insurance products and services to the local market. The search for new staff with extensive market expertise is underway.

HDI Global said its extensive portfolio of solutions will be replicated in Portugal and will include state-of-the-art insurance for property damage and business interruption, casualty, energy and construction, marine, cyber, and specialty lines. The new office will also offer access to the HDI Global international program network and its captive fronting and alternative risk transfer capabilities.

Nuno Antunes, HDI Global's current Iberia head of client strategy and Portugal country manager, will lead the new branch as managing director. Mr. Antunes has an insurance career spanning more than 2 decades in the United Kingdom, France, Spain, and Portugal.

"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," Mr. Antunes said in the statement. "Thanks to our global network, we enable Portuguese clients and brokers to operate worldwide in a compliant manner. We can closely support them as a reliable partner wherever they do business."

"We have been operating successfully in Portugal for more than 20 years. Opening a branch office in Lisbon is the logical progression of our successful business development, our market analysis, and our ambition to be the partner in transformation for our clients," David Hullin, member of the HDI Global board of management with responsibility for international business, said in the statement.

"On the one hand, we want to underline our strong commitment to Portugal and the entire Iberian Peninsula," Mr. Hullin said. "On the other hand, we are much better accessible to our clients with personal contacts in the region. I wish Nuno and the entire team at the Lisbon site every success."

"The Iberian Peninsula and Latin America have long been a natural economic space, given its common languages, culture, and historical links," Juan Aznar Galdiz, managing director, HDI Global SE Spain, said in the statement. "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."