MNK Group Expands in Central America and LatAm through Acquisition of Oceánica de Seguros S.A.

MNK Group, through its subsidiary Specialty Management UK, is expanding its re/insurance operations in Central America and the Latin American region with the recent acquisition of Oceánica de Seguros S.A., an insurer based in Costa Rica. The acquisition has been officially confirmed by Costa Rica’s supervisory authority, the Superintendencia General de Seguros (SUGESE).

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

Manoj Kumar, Chairman of MNK Group, expressed his excitement about the acquisition and highlighted its importance in the company’s rapid expansion in the LatAm market. He emphasized that Oceánica de Seguros offers 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 and highlighted the enhanced opportunities for innovation and enhanced reinsurance support for clients as a result of the acquisition. He emphasized that MNK Group’s expertise, experience, and access to global markets such as Lloyd’s would benefit clients and stakeholders alike.