LONDON / PANAMA CITY — In a move that significantly bolsters its operational capabilities across Central America and the Caribbean, London-headquartered international insurance and reinsurance broker Oneglobal Broking has announced the successful acquisition of LATAM Reinsurance Brokers Corp. (LATAM RE).
The transaction, the financial terms of which remain strictly confidential, marks a pivotal milestone in Oneglobal’s ongoing strategy to scale its footprint within high-growth emerging markets. Under the terms of the agreement, the well-established LATAM RE brand will be systematically phased out, with the operations and portfolio fully integrated into the global Oneglobal Broking identity.
The acquisition brings a wealth of specialized technical underwriting expertise into the Oneglobal fold, particularly across complex business lines including aviation, marine, property and casualty (P&C), construction, surety, power generation, financial lines, and specialized structured risks.
Main Facts
The core of the transaction centers on the absorption of a premier, independent Panamanian reinsurance brokerage into a major international insurance platform.
- The Acquirer: Oneglobal Broking is a prominent London-based international insurance and reinsurance broker known for its specialized client-centric solutions, global reach, and aggressive expansion into key international territories.
- The Target: LATAM Reinsurance Brokers Corp. (LATAM RE) is an independent reinsurance broker founded in 2008 and headquartered in Panama City, Panama. The firm is duly licensed by the Superintendencia de Seguros y Reaseguros de Panamá.
- Leadership Continuity: Thomas Julio Arosemena Callan, the original founder and Chief Executive Officer of LATAM RE, will remain at the helm in Panama City. He assumes the dual role of Country Head – Panama & Regional Business Development Lead (Central America). Arosemena will report directly to José Miguel, CEO of Oneglobal Broking’s Latin American (LATAM) region.
- Geographic Strategic Focus: The acquisition heavily reinforces Oneglobal’s physical and operational presence in Panama, which is widely regarded by industry analysts as a vital commercial hub and a gateway for trade, finance, and insurance services connecting South America, Central America, and the Caribbean.
- Product Line Expansion: The integration introduces deep technical competencies in facultative reinsurance, marine, aviation, construction, and specialized financial risks directly to Oneglobal’s existing service portfolio.
Chronology: The Evolution of a Strategic Partnership
The journey toward this landmark acquisition reflects a calculated, long-term vision by Oneglobal Broking to establish an unshakeable foothold in Latin America’s dynamic economic corridors.
Foundation and Early Growth (2008–2020)
LATAM RE was established in Panama City in 2008 by Thomas Julio Arosemena Callan. Amid a rapidly evolving regional economy driven by canal trade, infrastructural development, and expanding international commerce, LATAM RE carved out a niche for itself. Unlike traditional, volume-driven agencies, the firm focused heavily on a relationship-driven, highly technical approach to reinsurance. Over nearly two decades, it built deep-seated partnerships with regional insurance companies and global reinsurers alike, navigating regulatory landscapes and earning a reputation for reliability across Central America and the Caribbean.
Oneglobal’s Global Expansion Drive (2020–Present)
Concurrently, Oneglobal Broking has been aggressively executing a multi-year growth strategy designed to position the firm as a premier independent alternative in the global broking arena. By combining boutique-style local market expertise with access to major international capital markets, Oneglobal has steadily expanded its geographic footprint. Recognizing Latin America as one of the world’s most dynamic and promising insurance landscapes, the executive leadership at Oneglobal began identifying prime targets for regional consolidation—with Panama emerging as a natural epicenter for Central American operations.
Deal Finalization (Late 2024 / Early 2025)
Discussions between Oneglobal executives—including José Miguel, CEO of the LATAM region, and Ernesto de Lima, CEO of Oneglobal Colombia and Central America—and LATAM RE’s leadership culminated in the acquisition agreement. The transaction successfully bridges the gap between LATAM RE’s robust local network and Oneglobal’s immense international capacity. With regulatory approvals secured, the formal announcement was made, setting the stage for the complete brand transition and operational alignment.
Supporting Data and Market Dynamics
To fully understand the weight of this acquisition, one must examine the macroeconomic and industry-specific environment of Panama and the broader Latin American reinsurance market.
The Strategic Importance of Panama
Panama City serves as the financial, logistical, and maritime heart of Central America. Driven by the continuous operations and expansions of the Panama Canal, robust construction sectors, and a thriving banking and financial services ecosystem, the country generates substantial demand for complex insurance and reinsurance solutions.
- Economic Resilience: Panama has historically maintained one of the highest GDP growth rates in Latin America, fueling a corresponding rise in commercial property values, infrastructure projects, and transport logistics.
- Regulatory Rigor: Operating under the stringent oversight of the Superintendencia de Seguros y Reaseguros de Panamá, licensed brokers in the jurisdiction must adhere to high standards of compliance and capitalization, making established local firms like LATAM RE highly attractive acquisition targets for international players seeking turnkey compliance and market trust.
Diversified Risk Portfolios
The lines of business brought over by the LATAM RE team address critical sectors within the region’s economy:
- Marine and Aviation: Essential for a nation operating global shipping lanes and international transit hubs.
- Construction and Surety: Vital for supporting massive public and private infrastructure undertakings across Central America.
- Property, Casualty, and Power: Addressing the growing exposure to natural catastrophes, commercial property developments, and energy grid expansions throughout the Caribbean basin and Central American isthmuses.
- Specialized and Financial Risks: Catering to the sophisticated demands of Panama’s international banking sector and corporate conglomerates.
Official Responses and Executive Insights
Leadership from both organizations have emphasized the mutual benefits, cultural alignment, and strategic vision underpinning the merger.
José Miguel, CEO of Oneglobal Broking (LATAM region), highlighted the tactical fit of the acquisition:
"We are delighted to welcome Thomas and his team to Oneglobal. Their technical strength and long-standing client relationships across Latin America align perfectly with our growth strategy and our commitment to combining global reach with local expertise. 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, echoed these sentiments regarding the regional network:
"The acquisition of LATAM RE represents a significant step in strengthening Oneglobal’s presence across Central America. Panama is a strategic market for our regional growth plans, and 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."
Speaking from the perspective of the acquired firm, Thomas Julio Arosemena Callan, founder of LATAM RE and newly appointed Country Head – Panama & Regional Business Development Lead (Central America), expressed enthusiasm for the future:
"Joining Oneglobal is an exciting step forward for our team and our clients. For more than 15 years, we have built LATAM RE on technical expertise, trust, and strong relationships across the region. 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 Clients, Competitors, and the Industry
The integration of LATAM Reinsurance Brokers Corp. into Oneglobal Broking carries several far-reaching implications for the insurance and reinsurance landscape in Latin America.
1. Enhanced Client Access to Global Capital
For existing clients of LATAM RE, the transition unlocks immediate access to international reinsurance markets that were previously out of reach or required more complex intermediary arrangements. By leveraging Oneglobal’s global network, local businesses, insurers, and risk managers in Central America can now secure larger capacities, more competitive pricing structures, and bespoke risk-transfer solutions tailored to complex global exposures.
2. Heightened Competition in the Central American Brokerage Space
The consolidation of independent regional expertise with a well-capitalized international broker raises the competitive stakes for other major brokerages operating in Panama and neighboring countries. Firms lacking a robust international backing may find it increasingly difficult to compete with Oneglobal’s ability to offer both deep local touchpoints and massive global syndication power.
3. A Blueprint for Future Regional Expansion
For Oneglobal Broking, this acquisition serves as a operational proof-of-concept. Successfully absorbing LATAM RE while retaining its core leadership and entrepreneurial culture paves the way for potential future acquisitions across South America and the Caribbean. It demonstrates that Oneglobal prefers a collaborative, leadership-retaining integration model over disruptive, corporate-heavy takeovers, preserving the relationship-driven essence that underpins successful reinsurance broking.
4. Navigating Emerging Regional Risks
As Latin America continues to grapple with evolving risk profiles—ranging from localized infrastructure challenges to broader global economic headwinds and climate-related catastrophe exposures—the combined entity is uniquely equipped to advise clients. The infusion of LATAM RE’s technical capabilities into Oneglobal’s analytical framework ensures that regional cedents will receive sophisticated, data-driven advisory services designed to protect balance sheets in an increasingly volatile world.
Conclusion
The acquisition of LATAM Reinsurance Brokers Corp. by Oneglobal Broking is much more than a routine corporate transaction; it is a strategic realignment of local mastery and international muscle. By anchoring its Central American operations in Panama City under the continued stewardship of Thomas Arosemena, Oneglobal has signaled its serious intent to build a dominant, resilient reinsurance platform throughout Latin America. As the LATAM RE name transitions into the Oneglobal Broking brand, clients and industry observers alike will be watching closely to see how this powerful combination shapes the future of risk management across the region.
