Reaseguradora Patria S.A.B.
PATRIA.MX
Mexican Stock Exchange- -
MXN
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- -
Capital Structure
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Insurance - Reinsurance
- Address
- IPO Date
- Dec 28, 2001
- Similar Companies
- Business
- Reaseguradora Patria S.A.B. (ticker: PATRIA.MX) operates as Mexico's sole locally registered reinsurer, providing comprehensive reinsurance services, risk modeling consultancy, and specialized seminars across Latin America and more than 70 countries worldwide. The company offers a diversified portfolio encompassing non-life reinsurance (93% of operations, including property at 39%, catastrophe risk at 24%, and other lines at 37%) and life reinsurance (7%), with balanced exposure to treaty and facultative business, as well as proportional and non-proportional structures; it also delivers personalized advisory on economic, technical, and administrative matters, catastrophe modeling, and alternative risk transfer schemes. Founded in 1953 by Mexican and Norwegian investors including Storebrand Ins. Co. and headquartered at Periférico Sur 2771, Col. San Jerónimo Lídice, Mexico City, the company functions as the dedicated reinsurance arm of Grupo Peña Verde S.A.B. (formerly under Pena Verde SAB), with international subsidiaries such as Patria Re Marketing Services Ltd. in London, Patria Re Servicios S.A. in Santiago de Chile, and Patria Re Risk Management Inc. in Miami. Recent developments include strong financial performance with a combined ratio of 88.0% at year-end 2024 driven by technical results and investment income, a profitable MXN 1 billion net result in 2024 despite catastrophe reserve challenges, and MXN 347 million in the first half of 2025; AM Best affirmed its A (Excellent) Financial Strength Rating and "aaa.MX" National Scale Rating in late 2024 with stable outlook, citing robust risk-adjusted capitalization and Latin American market expertise amid expansion efforts. Fitch Ratings affirmed BBB+ and AAA(mex) insurer financial strength ratings in May 2025, while the company maintains Solvency II-aligned controls and geographic diversification initiatives launched years ago. Shares were delisted from the Bolsa Mexicana de Valores following integration into Grupo Peña Verde, with leadership changes including Francisco Martínez Cillero as CEO.