Ocean RE aligns its operations with a Managing General Agent (MGA) as part of its reliability and support strategy.
Ocean RE shows business transparency and reliability that will allow it to continue expanding its team of professionals and its global footprint in an exponential way.
The reinsurer keeps aiming for success by putting their trust in other reinsurance specialists.
In order to serve a larger and more diversified portfolio of clients, Ocean RE delegates new responsibilities to Insight RE, a Managing General Agent. The agency is a specialized insurance underwriter focused on leveraging technology to improve underwriting metrics, automate data processing, and produce an actionable data vision that allows the profitability of accounts.
This current year marks the first anniversary of both companies managing operations as an extended team with a unique and varied international coverage. During the 2019-2021 period, Ocean RE has grown very rapidly in a variety of aspects; mainly due to the injection of capital which has given them the ability to expand their product offer and increase territorial coverage through the opening of their new offices situated in different strategic locations around the world, allowing them to approach their clients with greater immediacy and of course, close new businesses.
The rapid growth of the company and the extended client portfolio made it necessary to ensure the continuous management of operations in the different lines of business and this is where the need to subscribe through the MGA arises, allowing Insight RE to underwrite on behalf of Ocean RE, with the direction of Guillermo Eslava, Founder and Managing Partner of Insight RE.
And due to teamwork and the ability to delegate, Ocean RE has achieved very good results. “To this day, Insight RE has handled operations incredibly, monitoring and seizing opportunities with clients ranging from Russia to Korea, helping us expand the company’s financial lines and thereby continue to grow our global reinsurance footprint,” explained Irving Ureña, Ocean RE P&C VP and Underwriter.
Insight RE handles from BBB policies including FIPI aimed at its banking system to Commercial Crime policies that include various industries. “Our team is trained to look for specialized products such as Investment Management Insurance (IMI), the general objective of the company is to be able to develop the policies that best meet the needs of our customers,” explained Eslava in a conversation with Carlos Chamorro, CEO, and head of global operations of Ocean RE.
“Both companies agree that transparency is the only way to do business and that this is the differentiating factor in the operations we manage together, and as long as this is the premise under which both companies are governed, we will continue to underwrite in the same name, Ocean RE” expressed Carlos Chamorro.