In a move signaling a major shift in the competitive landscape of the Latin American insurance market, London-based international insurance and reinsurance broker, Oneglobal Broking, has officially acquired Panama City-based LATAM Reinsurance Brokers Corp. (LATAM RE). This strategic acquisition serves as a cornerstone for Oneglobal’s ongoing expansion efforts in the region, aimed at bridging the gap between sophisticated global reinsurance capacity and the burgeoning, high-growth markets of Central America and the Caribbean.
While the financial terms of the transaction remain undisclosed, the industry impact is significant. The deal integrates a well-established regional player into a global powerhouse, setting the stage for a new chapter in reinsurance services across the LATAM corridor.
The Strategic Rationale: Strengthening the Regional Hub
The acquisition of LATAM RE is not merely an expansion of geography; it is a calculated enhancement of Oneglobal’s technical capabilities. Founded in 2008 and fully licensed by the Superintendencia de Seguros y Reaseguros de Panamá, LATAM RE has spent over 15 years cultivating a reputation for technical precision and deep-seated local relationships.
By absorbing LATAM RE, Oneglobal is effectively anchoring its Central American operations in Panama—a global logistics and financial hub—to better serve a diverse portfolio of clients. For Oneglobal, the acquisition allows for the seamless integration of its global broking platforms with the granular, relationship-driven expertise that defined LATAM RE’s tenure as an independent entity.
As the Oneglobal brand phases out the legacy LATAM RE name, the firm intends to leverage the existing team’s profound knowledge of regional risk profiles to offer more bespoke reinsurance solutions. This includes complex business lines such as aviation, marine, construction, surety, and specialized financial risks.
Chronology: A Path Toward Consolidation
The journey toward this acquisition reflects the broader trend of consolidation within the global reinsurance brokerage sector, where mid-market independence is increasingly being traded for the scale and resource depth offered by international conglomerates.
- 2008: Thomas Julio Arosemena Callan establishes LATAM Reinsurance Brokers Corp. in Panama City, focusing on a technical and relationship-driven approach to regional risk.
- 2010s: LATAM RE solidifies its presence, becoming a trusted intermediary for local and regional insurers, navigating the unique regulatory and economic landscapes of Central America.
- Early 2020s: Oneglobal Broking identifies Latin America as a primary theater for its international growth strategy, prioritizing the establishment of a robust, localized reinsurance platform.
- Late 2024/Early 2025: Negotiations between Oneglobal and the leadership of LATAM RE reach a conclusion, with both parties recognizing the synergy between Oneglobal’s international reach and LATAM RE’s specialized local expertise.
- September 2026: The acquisition is officially formalized. Thomas Arosemena transitions into the role of Country Head for Panama and Regional Business Development Lead for Central America, reporting to José Miguel, CEO of Oneglobal Broking (LATAM region).
Deep Dive: The Technical Expertise of LATAM RE
The value proposition of this deal lies heavily in the human capital and intellectual property brought over by the LATAM RE team. The firm has long been recognized for its ability to handle complex risk structures that require more than just a standard market approach.
Key Business Lines Integrated:
- Facultative Reinsurance: Providing tailored support for individual high-value risks.
- Aviation & Marine: Addressing the specialized needs of Panama’s critical logistics and transport infrastructure.
- Construction & Power: Supporting the region’s growing infrastructure projects, which are increasingly vulnerable to climate-related and operational risks.
- Surety & Financial Lines: A critical area of growth in Latin America as regulatory requirements and corporate governance standards evolve.
- Specialized/Structured Risks: Providing bespoke financial solutions that help insurers manage volatility and capital efficiency.
This breadth of expertise ensures that Oneglobal is not just entering the market as a generic broker, but as a specialist entity capable of handling the most complex underwriting challenges in the region.
Official Perspectives: Leadership Voices
The integration of the two firms has been met with enthusiasm from the leadership teams of both organizations. The rhetoric surrounding the announcement underscores a shared vision of combining "global reach with local expertise."
José Miguel, CEO of Oneglobal Broking (LATAM Region)
"We are delighted to welcome Thomas and his team to Oneglobal," said Miguel. "Their technical strength and long-standing client relationships across Latin America align perfectly with our growth strategy. This acquisition reinforces our reinsurance offering and our investment in the region, and it is part of a wider ambition to build a leading reinsurance platform across Latin America. We see significant opportunity ahead and look forward to building it together."
Ernesto de Lima, CEO of Oneglobal Broking (Colombia and Central America)
Highlighting the strategic importance of the geography, de Lima noted, "Panama is a strategic market for our regional growth plans. By combining LATAM RE’s strong local expertise with Oneglobal’s global capabilities, we are better positioned to deliver specialist solutions and greater value to clients across this region. The acquisition of LATAM RE represents a significant step in strengthening Oneglobal’s presence across Central America."
Thomas Julio Arosemena Callan, Country Head – Panama
For the founder of LATAM RE, the transition is viewed as an evolution of the firm’s original mission. "Joining Oneglobal is an exciting step forward for our team and our clients," Arosemena stated. "For more than 15 years, we have built LATAM RE on technical expertise, trust, and strong relationships. Becoming part of Oneglobal allows us to offer our clients direct access to global reinsurance markets and the resources of an international broking group, while retaining the local knowledge and personal service that have always defined us."
Implications for the Market
The acquisition has several profound implications for the insurance and reinsurance landscape in Latin America:
1. Increased Competition
As international brokers continue to acquire local firms, independent brokers in Central America may face increased pressure to either specialize further or seek their own international partners. The scale of Oneglobal allows for more aggressive pricing and broader market access, which could disrupt current market share dynamics.
2. Enhanced Access to Global Capacity
Clients in the Central American region often face difficulties in accessing Tier-1 global reinsurance capacity. By becoming a key part of the Oneglobal network, local insurers will now have a direct pipeline to the international markets that Oneglobal navigates, effectively lowering the barrier to entry for high-level risk transfer.
3. Technological and Operational Upgrades
Oneglobal’s investment in sophisticated broking platforms will likely be rolled out to the Panama office. This digital transformation will streamline the placement process, improve reporting accuracy, and enhance the speed of service for local clients, who have previously relied on more manual, legacy systems.
4. A Hub-and-Spoke Regional Strategy
By appointing Thomas Arosemena to a regional role overseeing Central America, Oneglobal is signaling a departure from siloed country operations. This indicates a "hub-and-spoke" model where Panama acts as the central hub, allowing the company to export best practices and technical expertise to neighboring markets like Costa Rica, Guatemala, and beyond.
Looking Toward the Future
The success of this acquisition will ultimately be measured by the retention of existing talent and the seamlessness of the brand transition. In the reinsurance world, relationships are the primary currency; therefore, the fact that Thomas Arosemena is remaining with the firm to lead the Panama office is a vital sign of continuity.
As the industry faces mounting pressures from climate change, cyber risks, and geopolitical instability, the need for specialized, highly responsive reinsurance partners has never been greater. Oneglobal Broking’s move to solidify its position in Panama is a clear signal that the firm views Latin America not as a peripheral market, but as a central pillar of its long-term global growth story.
For the clients of what was once LATAM RE, the future promises a wider horizon of opportunities. With the stability of a global organization backing them, they are poised to navigate the next decade of regional volatility with more robust protection and more innovative risk management tools at their disposal. The consolidation is complete; now begins the task of execution, which will surely be monitored closely by industry analysts and competitors alike.
