MNK Group, through its holding company Specialty Management UK, is strengthening and expanding its re/insurance operations in Central America and the LatAm region with the recent acquisition of Oceánica de Seguros S.A., an insurer based in Costa Rica. This 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 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 excitement about the acquisition, highlighting 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 the collaboration with MNK Group, highlighting the enhanced opportunities for innovation and enhanced reinsurance support for clients as a result of this acquisition. He emphasized that MNK Group’s expertise, experience and access to global markets such as Lloyd’s will bring significant benefits to clients and stakeholders alike.
With this acquisition, MNK Group aims to expand its portfolio of insurance businesses supported by Specialty Management UK and leverage Oceánica as a strategic platform for growing their business in Central America and Latin America region.
