MNK Group Expands Its Presence in LatAm with Acquisition of Oceánica de Seguros S.A.

MNK Group, under the holding company Specialty Management UK, has recently acquired Oceánica de Seguros S.A., an insurer based in Costa Rica. This move strengthens the company’s presence in Central America and the LatAm region, highlighting its commitment to growth.

The acquisition of Oceánica has been approved by Costa Rica’s supervisory authority, the Superintendencia General de Seguros (SUGESE). This move adds Oceánica to MNK Group’s portfolio of insurance businesses, which includes MNK Re, a Lloyd’s Broker and Specialty MGA UK.

Oceánica de Seguros S.A. has been operating in Costa Rica since 2013 and will maintain its current management team, led by General Manager Daniel Hernández. A new Board of Directors has been appointed, with Ricardo Retana serving as the President of the Board.

Manoj Kumar, Chairman of the MNK Group, expressed his enthusiasm for the acquisition, noting that it aligns with the company’s strategy for rapid expansion in the LatAm market. The addition of Oceánica provides a solid foundation for building a substantial book of business in the region.

Ricardo Retana, President of Oceánica, shared his excitement about the partnership with MNK Group, highlighting the potential for innovation and increased reinsurance support for clients. The collaboration with MNK Group, with its expertise and access to the Lloyd’s market, promises to deliver significant benefits to Oceánica’s clients and policyholders.