Multinational

What Multinational does

Multinational operates as a dual-entity regional insurance group delivering personal and commercial property-casualty plus life, cancer, and disability coverage exclusively within the Commonwealth of Puerto Rico. The group consists of Multinational Insurance Company (MIC, P&C and commercial lines) and Multinational Life Insurance Company (MLIC, life and health), both wholly owned subsidiaries of Grupo Multinacional de Seguros, a Venezuela-headquartered insurance conglomerate with eight operating companies across Venezuela, Curaçao, Panama, and Puerto Rico. Both carriers hold an A.M. Best A- (Excellent) financial strength rating.

The product portfolio spans roughly 40 named products organized across three lines. The auto line is anchored by Multi Auto (personal and commercial auto, compulsory SRO, road assistance) plus the Multi Plus collision add-on. The property line includes the bundled Multi Personal Package (home, auto, liability, umbrella in one policy), Multi Comercial Package, commercial property, builder's risk, cyber liability, garage, inland marine, MULTIMARINE, equipment breakdown, fidelity and surety bonds, and condominium extensions. The life and health line covers term life (Multi-term 10/20/30, Guaranteed Term, Payback Term, ELIFE), permanent life (Eternity Life, Nova, VIPUL), cancer coverage (Master 50K, Vital 360, COVID Protect), disability (SINOT per Puerto Rico Law 139, Multi Critical Illness, group disability), group life and accident, mortgage life, credit life, and school insurance.

Technology is built on a Microsoft 365/Outlook environment with dedicated web portals: Portal del Asegurado MIC/Vida for policyholders, Portal del Productor for the authorized-producer network, Multi Plus and ELIFE e-commerce front ends, a group billing system, and Microsoft Bookings-based online appointment scheduling across claims, billing, underwriting, and sales. Distribution combines five physical branch offices (San Juan headquarters plus Arecibo, Ponce, Mayagüez, Caguas) with an authorized-producer and general-agency network, supplemented by the Fast Track auto-claims workshop network (Red de Talleres) for island-wide collision coverage.

Revenue is generated through recurring insurance premiums on annual and installment cycles across personal auto, homeowners, commercial property, life and disability policies, and surety bonds. Customer segmentation is horizontal, serving individual consumers/families, small and medium enterprises, commercial property owners and operators, and employer groups purchasing group life, accident, and disability coverage. Backed by global reinsurers including Munich Re, Mapfre Re, Reaccredit, and Guy Carpenter, the company is family-controlled through the Carrero family, with Tobías Carrero Nácar as Board President across both entities.

Name

Multinational

Legal name

Multinational Insurance Company

Website

https://multinationalpr.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

101–250 employees

Short description

Multinational Insurance Company and Multinational Life Insurance Company are Puerto Rico-domiciled, A.M. Best A- rated insurers offering personal and commercial property-casualty, life, cancer, and disability coverage through five branches, authorized producers, and digital self-service portals.

Ownership category

akta.pro rank

Headquarters

HQ city

San Juan

HQ country

Puerto Rico

HQ region

Latin America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Property & Casualty Insurance Premiums: Core revenue from property insurance (homeowners, condominiums, commercial property, builders risk, cyber liability, marine), auto insurance (personal, commercial, compulsory SRO, Multi Plus collision), and surety bonds (fidelity, construction, licenses/permits). Premiums are collected on annual or installment schedules. Multi Personal Package and Multi Commercial Package products bundle multiple coverages into unified policies.
2. Life & Health Insurance Premiums: Revenue from life insurance products including term life (Multi-term 10/20/30, Guaranteed Term, Payback Term), whole life (Eternity Life, Nova, VIP/Vida Universal), critical illness and cancer policies (Master 50K, Vital 360, COVID Protect), disability insurance (SINOT Law 139, group disability), credit life, mortgage life, school insurance, group accident and medical expense policies.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Multinational Insurance Company (MIC) and Multinational Life Insurance Company (MLIC) provide a comprehensive portfolio of insurance products and services exclusively in Puerto Rico, spanning personal and commercial property, auto, life, cancer, disability, surety bonds, and group insurance lines. The company operates under two corporate entities with A.M. Best A- (Excellent) ratings, distributing through authorized producers, five physical branch offices, digital self-service portals, and the Multi Plus and ELife e-commerce platforms.

Product overview

Multinational Insurance Company and Multinational Life Insurance Company offer a comprehensive portfolio of insurance products organized across three primary lines: auto, property, and life/health. The auto division centers on Multi Auto as the flagship product, encompassing Auto Personal, Auto Comercial, the compulsory SRO policy, road assistance, and the Multi Plus collision add-on. The property division features the Multi Personal Package as a unified bundle (property + liability + auto + umbrella), supplemented by commercial products including Multi Comercial Package, commercial property, Builder Risk, Cyber Liability, garage insurance, inland marine, crime coverage, equipment breakdown, fidelity bonds, various surety bonds (construction, licenses, miscellaneous), umbrella policies, marine insurance (MULTIMARINE), and condominium extensions. The life/health division offers term life (Multi-term, Guaranteed Term, Payback Term, ELIFE), permanent life (Eternity Life, VIPUL), protector products (ML Protector, Nova), cancer coverage (Master 50K, Vital 360, COVID Protect, Cancer Grupal), disability (SINOT, Multi Critical Illness, Grupal Incapacidad), group insurance (Vida, Accidental Death, Accident & Medical), mortgage insurance, credit life, and school insurance. The two companies operate as a unified insurance group under the shared brand 'Seguro te Responde' with customer portals, branch offices across Puerto Rico, and an A.M. Best rating of A- (Excellent Outlook).

Differentiator

Problem solved

Functional benefit

Brands

• Multi Auto: Auto insurance product line offering personal auto, commercial auto, and compulsory (SRO) coverage in Puerto Rico.
• Multi Plus
• Multi Personal Package (MPP)
• Multi Comercial Package
• ELIFE
• MultiMarine Insurance
• Master 50K
• Vital 360

Products and services

• Auto Personal Personal auto insurance covering collision, comprehensive, liability, double interest, accidental death and dismemberment, and no-depreciation endorsement for privately owned vehicles in Puerto Rico.
• Auto Comercial Commercial auto insurance covering vehicles used for business purposes, including civil liability, physical damage, medical expenses, garage keepers coverage, and fleet insurance.
• Seguro Compulsorio (SRO) Compulsory motor vehicle liability insurance (SRO) required by Puerto Rico Law 253-1995, providing third-party property damage coverage up to $4,500 per accident.
• Multi Plus Collision Coverage Collision insurance policy for personal autos providing coverage of up to $4,000 per incident for damages caused by accidents, impacts, or rollovers, beyond conventional policies.
• Multi Personal Package (MPP) Bundled personal insurance policy combining property, public liability, automobile, and umbrella coverage in a single annual contract with discounts on building, content, and multi-vehicle coverage.
• Multi Comercial Package Multiline commercial package combining two or more coverages such as liability, property, crime, inland marine, glass, and boilers and machinery under a single contract for business clients.
• Seguro de Vivienda Homeowners insurance covering the main structure, attached structures, personal property, and fair rental value against specified perils including fire, hurricane, earthquake, and vandalism.
• Póliza Comercial de Propiedad Commercial property insurance covering direct damage to buildings and business personal property against perils including fire, hurricane, and explosion.
• Responsabilidad Pública Comercial Commercial general liability insurance covering third-party bodily injury and property damage claims arising from business operations.

Quantifiable outcome

• Multinational Insurance Company achieved A- classification from A.M. Best within under 10 years under current leadership
• +5 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Unnamed Reinsurance PartnerscoreOthersMultinational Insurance Company and Multinational Life Insurance Company are backed by unnamed global reinsurance partners (reaseguradoras) of high repute. The reinsurance panel is displayed on the company's Reinsurers page, affirming financial backing for policy obligations.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• MAPFRE Puerto Rico: MAPFRE operates a broad P&C, auto, and commercial insurance business in Puerto Rico as part of MAPFRE's global network, and reinsures Multinational's panel. It is comparable as a multi-line carrier targeting the same Puerto Rico households and SMEs with similar bundled products.
• Triple-S Management: Triple-S is Puerto Rico's largest domestic insurance group offering P&C, life, and health coverage, and is Multinational's most direct competitor across multiple product lines. Multinational's current President Luis Pimentel Zerbi is a former Triple-S President, underscoring the close overlap in customer base, distribution, and product portfolio.
• Cooperativa de Seguros Múltiples de Puerto Rico: Cooperativa de Seguros Múltiples is a Puerto Rico cooperative insurer offering P&C, auto, and surety products across the island. It is a direct peer because it sells overlapping lines to the same Puerto Rico customer segments and competes for the same producer network.
• National Life Insurance Company (Puerto Rico): National Life is a Puerto Rico life insurer that achieved an A rating from A.M. Best under Fernando Rivera Muñoz, who now sits on Multinational's board. It is comparable because it competes head-to-head with Multinational Life Insurance Company in term, whole life, and group life products across the same island distribution.
• Universal Insurance Company (Puerto Rico): Universal Insurance Company is a long-established Puerto Rico P&C carrier offering personal and commercial property and auto coverage. It is comparable because it directly competes in Multinational's core property and auto lines and shares the same Puerto Rico-only distribution footprint and hurricane-exposed risk pool.

Broad incumbents

• Pan-American Life Insurance Group: Pan-American Life is a large life and health insurer operating across the Caribbean and Latin America. It is comparable as a broader incumbent serving Puerto Rico and the wider Caribbean with group life and credit life products that overlap with Multinational Life's portfolio.

Emerging players

• Seguros Suramericana (SURA): SURA operates across Latin America and the Caribbean offering P&C and life insurance. It is comparable as a Latin American multi-line peer with similar reinsurance-backed underwriting discipline and overlapping Caribbean/LatAm corporate customer base.
• Assurant Solutions Puerto Rico: Assurant operates specialty insurance and warranty businesses including device protection and credit-related coverage. It is comparable because its credit life and specialty products intersect with Multinational's credit life, mortgage life, and SINOT disability offerings in Puerto Rico.

Regional players

• ASSMCA / Puerto Rico Health Insurance Administration: ASSMCA-related entities administer Puerto Rico's public health coverage framework. While not a direct private-market peer, it is a regional incumbent that defines the regulatory and competitive context in which Multinational's group accident/medical and SINOT disability products compete.

Others

• Munich Re (Reinsurance): Munich Re is a global reinsurer and one of Multinational's named reinsurance partners. It is an enabling/ecosystem participant whose pricing, capacity, and terms directly shape Multinational's cost of catastrophe coverage in Puerto Rico.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/segurotresponde
• YouTubeyoutube.com/channel/UCZwZJ_z3hBb_fJ4WOrCFvnQ
• Facebookfacebook.com/multinationalcompanypr
• LinkedInlinkedin.com/company/multinational-life-insurance-company
• Instagraminstagram.com/multinationalpr

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Subsidiaries2 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 Multinational