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Capital Bay Underwriting joins MISSION Latin America as first program

The Miami-based managing general underwriter will provide financial lines facultative reinsurance solutions across 27 countries in the Caribbean and Latin America, starting immediately as a MISSION program.

Reported · Written up by our desk · Reinsurance

MISSION, a specialty insurance program administrator, said Capital Bay Underwriting, a Miami-based managing general underwriter, is joining MISSION Latin America as the platform’s first program.

Capital Bay will continue to be led by Pascal Alvarez, with David Gonzalez assuming the role of Chief Executive Officer as part of a planned leadership transition. The firm has underwritten financial lines facultative reinsurance solutions across 27 countries since 2018, serving both private and public corporations in the Caribbean and Latin America.

MISSION said the alliance is intended to build on Capital Bay’s regional track record, with Alvarez transitioning to Executive Chairman while remaining involved in day-to-day operations and the platform’s strategic evolution.

The team will remain based in Miami and begin operating as a MISSION program effective immediately, as Capital Bay positions its reinsurance offering for a wider range of financial institutions and commercial entities.

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