Structured growth
Since its establishment in 1953, Patria Re has worked hard to secure its leading position within the Latin American market.
Some 60+ years later, the company is preparing to transform from a regional specialist to a small international reinsurer with a specialty in Latin America.
In September 2015, Patria Re secured a partnership with Pembroke Managing Agency (PMA) to host the Patria Special Purpose Syndicate (Patria SPS). This arrangement, subject to authorisation from Lloyd’s, will provide Patria with access to the Lloyd’s Market while also bringing the market closer to Latin American reinsurance business.
Ingrid Carlou, the company’s CEO, says that the benefits of repositioning the company as an international reinsurer will be plentiful, including broadening the company’s specialty operation and filtering products from developed markets back to Latin America.
“We see traditional branches becoming more and more commoditised and our regional clients becoming more sophisticated, so we intend to broaden the scope of the specialty branches and operations we currently provide to better serve the needs of the market we operate in,” says Carlou.
“In line with this we have started a number of new lines of business and we have introduced specialty products to serve specific segments of the market.
“Also, we will be funneling services and products from developed markets towards Latin America. The company has broadened its network of clients and partners around the world to capture their experience and harness their service base.”
