Patria RE

What Patria RE does

Patria RE (legal name Reaseguradora Patria, S.A.) is a Mexico-headquartered reinsurance company founded in 1953 by Storebrand (Norway) and a group of Mexican and Norwegian investors. The company was publicly listed on the Bolsa Mexicana de Valores (ticker PATRIA) from 1959 until 2012-2013, when it was acquired by Grupo Peña Verde (BMV: PV) and became a private subsidiary of the diversified Mexican conglomerate. It is internationally recognized as the specialist reinsurer for Latin America and currently operates from offices in Mexico City, London (PRMS, 2013), Santiago (Patria Re Servicios, 2015), and Miami (Patria Re Risk Management, 2018).

The company's core offering is multi-line reinsurance — treaty and facultative, proportional and non-proportional — covering property, casualty, life, aviation, marine, energy, surety, and other lines of business. Supporting services include catastrophe modeling and consulting (Modelaje), international reinsurance seminars, and an internal client alert system (Alertas Patria). Underwriting is supported by internal proprietary systems (SIREC, SIPAM) and a Quality Management System implemented since 2006, with control frameworks aligned to Solvency II since 2008. The company holds AM Best and Fitch ratings (Stable Outlook) and operates under Lloyd's scheme PAT6125.

Patria RE generates revenue primarily through reinsurance premiums collected from cedants and operates a sales-led, relationship-based go-to-market model. Its customers are enterprise clients — Mexican and Latin American insurance companies (aseguradoras), surety companies (afianzadoras), and reinsurance brokers (corredores de reaseguro) — engaged under a long-term "win-win" partnership approach. Distribution is direct (no intermediaries), supported by international offices and ongoing reinsurance seminars that function as both training and pipeline-development. The current CEO is Act. Francisco Martínez and the Chairman of the Board is Mtro. Manuel Escobedo.

Name

Patria RE

Legal name

Reaseguradora Patria, S.A.

Website

https://patriare.com.mx

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

101–250 employees

Short description

Patria RE is a Mexico-headquartered reinsurer, founded in 1953 and a subsidiary of Grupo Peña Verde, that provides multi-line treaty and facultative reinsurance — property, casualty, life, aviation, marine, energy, and surety — to insurance companies, surety companies, and reinsurance brokers across Latin America.

Ownership category

akta.pro rank

Product category

Reinsurance Services

NAICS

Reinsurance Carriers (524130)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Property Facultative Reinsurance (FSAOAFAA)

Keywords

• Reinsurance services
• Property catastrophe
• Insurance underwriting
• Surety reinsurance
• Risk management

Headquarters

HQ city

Ciudad De León

HQ country

Mexico

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Reinsurance Premiums: Reaseguradora Patria participates in risk administration by accepting and managing reinsurance risks from ceding insurance companies. The company operates across multiple lines of business including treaty and facultative reinsurance, proportional and non-proportional portfolios. Revenue is generated through reinsurance premiums collected from cedants.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Patria RE (Reaseguradora Patria, S.A.) is a Mexican reinsurer founded in 1953 that sells treaty and facultative reinsurance capacity to insurance companies, surety companies, and reinsurance brokers across Latin America. Coverage spans multiple lines including property, casualty, surety, marine, aviation, and catastrophe, complemented by catastrophe modeling advisory services for cedents.

Product overview

Patria RE operates as a reinsurance company offering a unified portfolio of services centered on its core reinsurance product. The main offering is comprehensive reinsurance (reaseguro) covering multiple business lines including property, casualty, life, aviation, marine, energy, and surety. Supporting services include catastrophe modeling/consulting (Modelaje), professional seminars (Seminarios), and an internal notification system (Alertas Patria). The company maintains three international subsidiaries: PRMS in London (marketing), Patria Re Servicios in Chile, and Patria Re Risk Management in Miami, all serving as regional offices to support its Latin American reinsurance specialization.

Differentiator

Problem solved

Functional benefit

Products and services

• Reaseguro (Reinsurance) Treaty and facultative reinsurance capacity offered to insurance companies, surety companies, and reinsurance brokers across Latin America, covering property, casualty, surety, marine, aviation, and catastrophe lines.
• Modelaje (Catastrophe Modeling) Catastrophe modeling advisory service that supports cedents and the firm's own underwriters in assessing catastrophe exposures for property and related lines.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Grupo Peña VerdecoreStrategic or Co-development Partner · 1 January 2012Patria RE became part of Grupo Peña Verde (BMV Ticker: PV) in 2012-2013, creating synergies, economies of scale and enhanced competitiveness. Peña Verde is a Mexican-owned group listed on the Bolsa Mexicana de Valores, with a vision for Latin American integration.
• AMIS (Asociación Mexicana de Instituciones de Seguros)minorOthersIndustry association for insurance institutions in Mexico. Patria RE maintains membership in AMIS as part of its industry engagement.
• AMIG (Asociación Mexicana de Instituciones de Garantías)minorOthersMexican association of guarantee institutions. Patria RE participates as a member supporting the surety and guarantee sector.
• FidesegurosminorOthersInsurance industry association in Mexico. Patria RE maintains association membership for industry networking and professional development.
• IIF (Institute of International Finance)minorOthersGlobal association of financial institutions. Patria RE participates as a member supporting international finance industry engagement.
• PASA (Pan American Surety Association)minorOthersPan American Surety Association for the surety industry across the Americas. Patria RE maintains membership supporting regional surety market development.

Scale indicators3 records

Recent moves11 records

Expansion highlights4 records

Direct peers

• Munich Re: One of the world's largest multi-line reinsurers offering property, casualty, life, aviation, marine, and specialty reinsurance globally. Directly comparable to Patria RE in product scope and customer base (insurance companies), though at materially larger scale and global diversification.
• Hannover Re: One of the largest global multi-line reinsurers, with a strong focus on treaty and facultative reinsurance across property, casualty, life, and specialty lines. Closely comparable to Patria RE's product mix and cedant-facing model.
• Scor SE: Global multi-line reinsurer combining P&C and L&H reinsurance with a presence in Latin America. Comparable to Patria RE in product breadth and cedant focus, with stronger global capital and diversification.
• Odyssey Re (Odyssey Group): Global specialty reinsurer offering P&C treaty and facultative coverage across multiple lines including property, marine, aviation, and energy. Comparable on product scope to Patria RE's specialty and treaty offerings.
• Swiss Re: Global multi-line reinsurer with broad P&C and L&H treaty and facultative offerings. Comparable to Patria RE across product lines, with deeper capital, broader geographic diversification, and a heavier specialty-lines book.
• Mapfre Re: Reinsurance arm of the MAPFRE Group, providing multi-line treaty and facultative reinsurance with strong Iberian and Latin American exposure. Directly comparable to Patria RE's regional and product focus.

Broad incumbents

• RGA Reinsurance Company: A global life and health reinsurer that is part of a broader financial services group. Comparable to Patria RE's L&H reinsurance line, although RGA is a specialist life reinsurer rather than a multi-line player.
• AXA XL Reinsurance: Reinsurance operations within the AXA XL division, providing multi-line P&C and specialty reinsurance globally. Overlaps with Patria RE's broad product offering, but operates as part of a much larger insurance and financial services conglomerate.

Regional players

• Reaseguradora Colombia: Colombian-based reinsurer focused on Latin American markets. Provides a regional parallel to Patria RE's specialist positioning, though smaller and more geographically concentrated.
• IRB Brasil Re: Brazil's largest reinsurer offering multi-line treaty and facultative reinsurance across Latin America. Highly comparable regional peer to Patria RE; both specialize in Latin American risks but operate in different country ecosystems.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights8 records

Customer concentration

• LinkedInmx.linkedin.com/company/reaseguradora-patria-s-a-b-

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Patria RE