Seguros Atlas and Generali reach reinsurance agreement to support corporate business in Mexico
04 September 2023
MILAN, Italy – After several years of mutual cooperation, Generali España, part of the Generali Group, one of the leading European insurance and reinsurance groups, and Seguros Atlas (Atlas), with an outstanding position in the Mexican market, have formalized a reinsurance agreement that will allow Generali to enhance its reinsurance capacity in the Corporate and Multinational segment, while Atlas will expand its capacity and service offer to this market.
For the management of this new type of business with its own needs, a department called "Atlas Corporate and Commercial" will be created within the Atlas Special Business Division, which will have a specialized team with knowledge and experience in the management and underwriting of corporate risks. Atlas will also contribute its distribution capacity and the knowledge of the national market acquired over more than 85 years of presence in Mexico.
On Generali's side, this reinsurance agreement will be led and managed by Generali Global Corporate & Commercial – the unit specialized in corporate and multinational business of the Generali Group – and in particular by Generali Global Corporate & Commercial Mediterranean & Latin America led by Carlos Gómez. This geographical area - previously known as GC&C Iberia & Latin America - has changed its name to GC&C Mediterranean & Latin America since August 1st.
"We are very proud that Seguros Atlas has chosen us as reinsurer for the development of its business in the Corporate segment. The reinsurance support we will provide is aligned with our desire to be a lifetime partner in the Latin American market" said Carlos Gomez Head of Generali Global Corporate & Commercial Mediterranean & Latin America.
"We are very pleased to sign this agreement with Generali and we will expand our participation in the Mexican market by offering our Corporate and/or International clients a broader reach. We will have a reinsurer of great solvency, experience and expertise in this type of risks" said Rolando Vega, President and CEO of Seguros Atlas.