ATL has confirmed leadership changes at its reinsurance unit following internal discussions that identified differing views on the strategic growth of its Latin American business.
The independent Lloyd’s insurance and reinsurance broker said reinsurance CEO José Astorqui and head of property Marcelo Podawazc will exit the business after a strategic review and restructuring of ATL RE. Oversight of the Miami-based reinsurance operation will move to Andy Hye, who has served as managing director of the platform since its launch and will continue overseeing activity across Latin America.
ATL said the review assessed progress since the launch of ATL RE in January 2024 and examined the future direction of its Latam reinsurance strategy. The broker said all parties agreed the departures followed differing views on how the business should develop.
“Two years into our Miami venture, we felt the time was right to take stock of progress to date and to map out our future ambitions. During that process, it became clear that there were differing views on the strategic growth of our Latam business and all parties agreed this was an appropriate time to amicably part ways,” said CEO Iñaki Bandres (pictured).
Bandres said the firm remains committed to its reinsurance plans in the region and confirmed Hye will now take charge of the Miami operation.
“We have made steady progress in the region and are committed to fulfilling our reinsurance ambitions. Andy has been with the business since launch and I’m confident he is the right person to now drive our Miami operation forward,” he said.
ATL RE was launched in January 2024 to serve Latin America and the Caribbean from Miami, offering commercial reinsurance products including financial lines, property and energy, construction, accident and health, treaty and marine. The platform operates across Mexico, Ecuador, Argentina, Uruguay, Peru and Bolivia. At launch, Astorqui was appointed partner and CEO of ATL RE after holding senior leadership roles at BMS Group Latin America and Caribbean, Lions Gate Latin America and Caribbean and Howden Insurance Brokers, according to ATL’s announcement at the time.
Hye joined ATL RE at launch as partner and executive director from Summa Brickell, where he was head of treaty and energy. He brings more than four decades of experience in the international insurance and reinsurance market, with prior roles at BMS, Guy Carpenter and Aon, according to the company.
ATL said it is in the process of adding staff to its Miami office, with new hires expected in the coming weeks. No details were provided on the number of hires or specific functions.
Hye said the firm continues to pursue opportunities across Central and South America and cited existing client relationships, particularly in marine.
“We see significant opportunities to support the Latam region and have already established strong client relationships across Central and South America, notably in the marine market. We expect to announce new, experienced team hires in the coming weeks and grow the local operation with the support of our colleagues in London,” he said.
The leadership changes come during a period when ATL is adjusting its business mix. In December 2025, the broker said it was moving beyond its long-standing focus on energy and marine with the hire of James Wilson to lead a specialty lines initiative covering M&A, tax and capital risks, according to a company statement published at the time. That move aligned ATL with a Lloyd’s market seeing continued activity across specialty and reinsurance lines, including growth plans announced by several syndicates.
Astorqui and Podawazc said they intend to launch a new reinsurance vehicle in the future. No further details were provided.
ATL said the changes will not alter its focus on Latin American reinsurance, with Miami remaining the center of its regional operations.
