Aims to target the relatively young Hispanic population, entering the workforce for the first time
The Wyncrest Group, a niche insurance consortium, is planning to rapidly enter the Latin American market. Wyncrest’s pending acquisition of Florida Insurance Consulting is expected to provide an important trigger to its growth in the Latin American markets.
It has been reported that due to a rapid growth in the Spanish speaking population in the US, there is a vast scope for insurance companies that are under-represented. As a result, Wyncrest hopes to continue its efforts of recruiting agents and associates from strong family backgrounds with ties to the Latin American communities, Cuba and elsewhere in the Caribbean, as well as South America.
Keith Lanzara, president of Wyncrest Group, said: America is more Latin than ever before, and the language and cultural differences that exist must be overcome if Wyncrest Group’s growth strategy in the Latin insurance industry is to be successful. Wyncrest Group’s subsidiary Southwest Financial Group welcomes the opportunity to form synergies with Florida Insurance Consulting and to develop additional business in the Latin American community.
Chicago-based Wyncrest Group is a publicly traded holding company focusing on financial services and the insurance industry.