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MDS makes history by becoming Lloyd's only Portuguese speaking broker

MDS makes history by becoming Lloyd's only Portuguese speaking broker
09.10.2017
MDS, a leading global broking and risk consulting firm, with its HQ in Portugal, has been approved a Lloyd’s broker. It is the only company from a Portuguese-speaking country to be able to directly operate in the world’s largest specialist insurance and reinsurance market in London.

The endorsement - an historical event for the Portuguese financial sector - was given after a year-long demanding approval process. This has opened up access to new solutions to protect Portuguese companies and the economy against the risks they are exposed to.

José Manuel Dias da Fonseca, CEO of the MDS Group, comments: "This is a milestone in the history of MDS and the insurance sector in Portugal. Such approval confirms the respect and reputation MDS has within its sector, since Lloyd’s is an extremely demanding organisation when it comes to business partners, and creates potential to create increasingly innovative solutions, tailored to our customers’ needs. The growing complexity of the risks faced by companies and economies today, such as climate, cyber or supply chain risks, require increasingly sophisticated solutions. Lloyd’s is the ideal partner to support MDS and our customers in these challenges.”

The status of Lloyd’s broker gives MDS direct access to one of the most important insurance and reinsurance markets in the world, bringing together a unique set of highly specialised risk professionals who have a solid financial rating and a license to operate at an international level in over 200 countries.

Lloyd’s is presently the largest centre in the world for specialised insurance and reinsurance and is the market leader for managing emerging, little-known and complex risks. 
With over 300 years of history, during which it went through several world crises, it has continued to survive and reinvent itself, maintaining worldwide respect. As a result of this resilience, Lloyd’s is the sixth largest reinsurance group in the world and ranked third as the largest ‘non-life’ reinsurance group in the world  by AM Best. Managed premiums in 2016 totalled 29,862 million pounds (34,059 million euros).

MDS, founded in 1984, is Portugal’s leading insurance broker, the fourth largest broker in Brazil and a key player in the Angolan market. The entry into Lloyd’s is yet another  milestone, confirming  the contribution  MDS makes  to the insurance industry, recognising its  professionalism, thoroughness, efficiency, sophistication, quality, service, and especially innovation, through  pioneering initiatives in Portugal and abroad.

Juan Arsuaga, chairman and ceo of Lloyd’s Iberia says:  "It is a pleasure to announce the appointment of MDS as the only Lloyd’s broker of Portuguese origin. Lloyd’s places all its risks through intermediaries; we have 99 partnerships, 258 Lloyd’s brokers and 3,859 coverholders spread across more than 200 countries. MDS will be invaluable in helping the Portuguese market access insurance solutions, particularly where there is a need for large capacities and a strong financial rating, or when it comes to highly specialised risks. We wish MDS great success – we look forward to continuing our relationship with the Portuguese insurance and reinsurance market.”
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