MNK Group Acquires Oceánica de Seguros S.A., Expanding its Reinsurance Business in Central America and Latin America

MNK Group, through its holding company Specialty Management UK, has recently acquired Oceánica de Seguros S.A., an insurer based in Costa Rica. This acquisition has been confirmed by Costa Rica’s supervisory authority, the Superintendencia General de Seguros (SUGESE). The addition of Oceánica to its portfolio of insurance businesses includes MNK Re, a Lloyd’s Broker and Specialty MGA UK.

Oceánica de Seguros was established in 2013 and will maintain its current management team under the leadership of General Manager, Daniel Hernández. A new Board of Directors has been appointed, with Ricardo Retana serving as President of the Board. The acquisition signifies MNK Group’s commitment to expanding its presence in the LatAm market and leveraging Oceánica as a strategic platform for growing its business in the region.

Manoj Kumar, Chairman of MNK Group, expressed his enthusiasm for the acquisition, stating that it is an important step in the company’s rapid expansion in the LatAm market. He highlighted Oceánica de Seguros as an excellent foundation for further development of the business in the region. Ricardo Retana, President of Oceánica, shared his excitement about collaborating with MNK Group, emphasizing the enhanced opportunities for innovation and reinsurance support for clients as a result of the acquisition. He also emphasized the benefits of MNK Group’s expertise, experience, and access to global markets such as Lloyd’s for clients and stakeholders.

The acquisition is expected to bring significant benefits to both companies and their respective stakeholders. It will allow Oceánica to expand its reach and capabilities while benefiting from MNK Group’s resources and expertise. The partnership will also enable clients to access more innovative reinsurance solutions and enhanced support from experts in the field.

MNK Group’s rapid expansion in Central America and Latin America is driven by its commitment to providing exceptional insurance solutions that meet the needs of local businesses and individuals. With this latest acquisition, MNK Group continues to strengthen its position as a leader in re/insurance services across these regions.

In conclusion, Oceánica de Seguros joining forces with MNK Group represents a significant milestone in both companies’ growth trajectories. As they continue to grow together, they will bring value-added services and innovative solutions to their clients while expanding their presence across Central America and Latin America