NormanMax targets Latin & South America growth with Alvaro Espinel Pardo hire

NormanMax, the expansive US based parametric insurance and reinsurance group with a pure-parametric syndicate at Lloyd’s, has hired Alvaro Espinel Pardo as a Vice President, where he will lead the firm’s strategy and development in Latin and South America.

He will join the company on March 23rd, where he will report to Nick Griffiths, Chief Revenue Officer of NormanMax, a reinsurance and retro broking specialist who joined the company last October.

NormanMax Insurance Holdings has experienced significant growth since its establishment in 2023 by Bradley Meier, an executive with a distinguished background, having founded Universal Property & Casualty Insurance Company and its parent company, Universal Insurance Holdings (NYSE: UVE), in addition to co-founding the parametric specialist MGA New Paradigm.

Since launch, NormanMax has established its own syndicate at Lloyd’s in 2024, the first pure-parametric play in that key insurance and reinsurance marketplace. The company has also expanded its product offering beyond parametric peak catastrophe risk solutions more deeply into climate and weather risk transfer as well.

Now, the company has made another key hire, in bringing on experienced insurance and reinsurance sales manager Alvaro Espinel Pardo as a Vice President, to lead its strategy and development in Latin and South America.

He joins the organisation from Blue Marble, an insurtech providing parametric insurance to underserved populations in emerging markets. During his tenure, Espinel Pardo served as Business Development Manager for Latin America.

Previously, he spent several years at Gallagher, the global insurance brokerage and risk management firm, where he held the role of Sales Manager.

From 2019 to 2021, Espinel Pardo was with the real estate firm WeWork, holding account executive and sales leasing management positions across Latin America and Peru.

Brad Meier, CEO of Norman Max, commented, “I’m super excited to have Alvaro join the Norman Max team, as I’ve found he combines sharp analytical thinking with a practical, solutions driven approach. He moves quickly, understands what matters commercially and brings the kind of energy and professionalism that will help drive our business forward.”