Capital Bay brings a specialized focus on financial lines for both public and private entities, having operated in the region since 2018. Formerly a component of Ryan Specialty, the firm maintains its Miami headquarters under the new organizational structure. The transition coincides with a leadership shift: David Gonzalez steps into the role of Chief Executive Officer, while Pascal Alvarez transitions to Executive Chairman to focus on long-term strategy.

Alejandro Pedroza, President of MISSION Latin America, noted that the partnership reunites leadership teams with a shared history in the insurance sector. The integration aims to leverage MISSION’s technology-driven infrastructure to accelerate the scaling of Capital Bay’s existing reinsurance solutions. Both Gonzalez and Alvarez emphasized that this alignment supports their objective to broaden their footprint for financial institutions and commercial clients throughout the region.