London-based Cooper Gay Swett & Crawford has agreed to buy 100% ownership in its Mexican reinsurance broker Cooper Gay Martinez del Rio, by acquiring the shares held by senior local executives.

Established in 1996, Cooper Gay Martinez del Rio specializes in Latin American facultative and treaty reinsurance solutions to clients in Mexico and across Central America, Panama and the Dominican Republic. The business has been part of Cooper Gay since 1997.

Cooper Gay Martinez del Rio’s managing director Francisco Martinez will remain same and will continue to drive expansion in support of Cooper Gay’s strategy for the region.

Cooper Gay Swett & Crawford group chief executive Toby Esser said that Martinez and his team have built an extremely successful business with an enviable market share.

Cooper Gay Swett & Crawford managing director Latin America Steve Jackson said that this further investment in Latin America demonstrates CGSC’s continued commitment to developing its significant and longstanding presence in the regional reinsurance market.