Cementos Argos sets up Bermudan business unit

Colombia-based Cementos Argos SA has set up a new wholly-owned subsidiary, BMR Ltd. The new business unit in Bermuda is part of the company’s risk management strategy.

With the new company, it aims to stabilise the total cost of risk in the long term, intervene more actively in the reinsurance and insurance market as well participate in taking predictable risks that have been studied and over which Argos has control.

The creation of the company constitutes the implementation of "a good practice in risk management, thanks to the maturity that Argos has reached in managing its risks and their geographical diversification,” according to Argos.