Mexico City, Mexico – March 30, 2026
Ocean Re today announced that AM Best has upgraded the Company’s Financial Strength Rating (FSR) to A (Excellent) from A‑ (Excellent) and affirmed its Long‑Term Issuer Credit Rating, both with a stable outlook.
This upgrade reflects Ocean Re’s strengthened balance sheet, consistent underwriting discipline, and robust risk‑adjusted capitalization, as highlighted in AM Best’s official rating commentary. The rating action underscores the Company’s sustained operating performance and its ability to navigate market cycles with prudence and resilience.
According to AM Best, the upgrade is supported by Ocean Re’s conservative reserving practices, effective enterprise risk management framework, and disciplined portfolio management—key factors that reinforce the Company’s capacity to meet its obligations to policyholders and business partners.
Guillermo Eslava, Chief Executive Officer of Ocean Re, commented:
“The upgrade to an A (Excellent) rating by AM Best marks an important milestone for Ocean Re and represents a strong endorsement of our long‑term strategy. It reflects the rigor with which we manage risk, the quality and consistency of our underwriting, and our commitment to building a resilient, sustainable reinsurance platform for our clients and partners.”
Luis Toriello, Chief Financial Officer of Ocean Re, added:
“This rating action highlights the strength of our capital position and our disciplined financial management. We remain focused on maintaining strong capitalization, liquidity, and governance standards that support stable growth and protect our stakeholders across market cycles.”
AM Best also noted the quality of Ocean Re’s reinsurance program and its prudent approach to risk and portfolio management, which contribute to the Company’s solid financial profile and underpin its stable outlook.
Ocean Re will continue to execute its strategy centered on sustainable growth, underwriting profitability, and capital efficiency, while further strengthening long‑term relationships with cedents and brokers globally.
Full details of AM Best’s rating action are available in AM Best’s official press release.
About Ocean Re
With more than two decades of experience, Ocean Re operates from Barbados, Panama, Mexico, and London, serving clients across the Americas, Europe, MENA, and Asia. The company maintains an agile and dynamic operating model designed to deliver innovative solutions, supported by an A (Excellent) rating from AM Best and an A‑ rating from Fitch Ratings.
Ocean Re supports reinsurance solutions across key lines including Life, Health, Property, Casualty, Surety, Financial Lines, and other specialized risks, through facultative placements and treaty reinsurance programs.
Ocean Re has announced the appointment of Diego Cervantes-Knox as Group Chief Operating Officer.
Based at the Group’s Barbados headquarters, Diego will play a key role in supporting Ocean Re’s continued international growth, strengthening operational capabilities and enhancing the integration of capital, underwriting and technology across the business.
He joins Ocean Re following seven years at PwC, where he most recently served as Partner in Insurance, Asset and Wealth Management. During this time, he advised listed insurers, private equity portfolios and global financial institutions on large-scale transformation programmes focused on operational efficiency, financial performance and strategic growth.
His experience spans modernising finance and operations infrastructure, developing scalable shared services models and supporting the implementation of digital platforms and regulatory frameworks including IFRS and Solvency II.
Prior to PwC, Diego held senior advisory roles at EY, leading performance improvement and transformation initiatives for insurance and asset management clients. Earlier in his career, he gained valuable industry experience working with established international insurers including RSA Insurance Group, Hiscox and Chubb.
Diego’s appointment reflects Ocean Re’s commitment to investing in leadership, operational excellence and long-term strategic capability as the Group continues to expand its global reinsurance platform.
| Month | Event | Dates |
|---|---|---|
| January | FORO AGIS GUATEMALA | 21 – 24 |
| February | MIAMI REINSURANCE WEEK | 9 – 13 Feb |
| March | Congreso Sul Brasilero de Corredores de Seguros | 20 – 21 |
| March | FINANCIAL LINES FORUM | 26 |
| March | BARBADOS RISK & INSURANCE CONFERENCE | 27 – 28 |
| April | 2026 Workplace Benefits Conference | 5 |
| April | SEMANA DE REASEGURO EN ARGENTINA | 7 – 11 |
| April | Torneo de golf del Asegurador | 7 |
| April | AXCO GLOBAL INSURANCE SUMMIT | 15 and 16 |
| April | CONGRESO DE DUBAI DWIC | 28 – 30 |
| May | CONVENCIÓN DE ASEGURADORES AMIS | 13 – 14 |
| June | ICISA AGM & COMI 2026: Celebrating 100 years of supporting trade and surety | 1 |
| June | FORO INTECAP GUATEMALA (virtual) | 3 – 6 |
| June | Cumbre Europea de MGA 2026 | 9 and 10 |
| July | CONNECT: Global Employee Benefits and Workforce Strategies Summit | 21 – 23 |
| August | Risk Live Australia | 5 |
| September | Artemis London 2025 | 2 |
| September | Congreso Nacional Aseguradoras y Hospitales | 3 and 6 |
| September | CONGRESO RENDEZ VOUS MONTE CARLO | 7 – 10 |
| September | BEYOND EL ASEGURADOR MEXICO | 10 – 11 |
| September | FASECOLDA CARTAGENA | 25 – 27 |
| October | XXI Surety & Credit Technical Seminar | 5 and 6 |
| October | XVII International Meeting on Surety Bonds and Credit Insurance | 7 |
| October | ALSUM ASOC. LATINOAMERICANA DE SUSCRIPTORES MAIRITIMOS CHILE | 8 – 10 |
| October | ITC Las Vegas | 14 – 16 |
| October | CUMBRE DE SEGUROS MASIVOS AMERICA LATINA EBM | 28 – 30 |
| November | Semana de reaseguro en Chile | 1 and 5 |
| November | SINGAPORE INTER. REINSURANCE CONFERENCE SIRC | 3 – 6 |
| November | Torneo de golf Mapfre | 3 |
| November | CONGRESO NACIONAL DE ACTUARIOS MEXICO | 10 and 11 |
| November | Axco-Global-Insurance-Americas | 20 and 21 |
| November | CONGRESO NACIONAL DE INFRAESTRUCTURA | 26 and 28 |