09:30, December 04 546 0

2017-12-04 09:30:10
DAC continues Latin American expansion with Argentinian tie-up

DAC Beachcroft has expanded its footprint in Latin America, launching a new association in Argentina.

The firm has announced an association with local firm López Saavedra & Villarroel Abogados (LSVA), granting DAC Beachcroft a presence in 11 LatAm countries.

DAC Beachcroft has long seen Latin America as a target for growth acknowledging that associations in the region were the best path toward further expansion.

This is the latest in a number of moves to expand the firm’s network across the region. In the late 2016, the firm announced a pair of associations with Costa Rican firm BLP and Peruvian firm Torres Carpio Portocarrero & Richter.

Those two associations brought a combined 30 partners into the firm and LSVA will add a further three.

In line with DAC’s core practice area, Buenos Aires-based LSVA is a specialist insurance and reinsurance firm made up of around 50 staff overall.

LSVA partner Mariano López Saavedra said: “In combination, we are in the perfect position to capitalise on the growing importance of the Argentinian market to insurer clients as the country’s economy continues the ongoing process of economic liberalisation.”

DAC Beachcroft recorded a 10 per cent growth in pre-tax profits from £35m to £39m for the 2016/17 financial year. Speaking to The Lawyer at the time, Pollitt said that Argentina was a particular area of growth owing to the country’s government opening up the insurance market.