Panamanian newspaper La Prensa spoke with Gerardo García, CEO of Barents RE, who said that the purchase in Italy is part of the group’s strategic line. Barents Re received preliminary regulatory approval from Italy to acquire Banca del Fucino, the oldest private bank in Rome.

The amount of this transaction is safeguarded, as is the case in most of these operations, although it is probably known when the final steps of the purchase are completed.

“Our strategy has focused in the last 10 years on European growth, where we have most of our operations,” he said via telephone.

With the acquisition, the group will be able to provide a comprehensive service to clients, who, in addition to reinsurance, look for bank products.

The transaction would be led by the group’s holding company in Europe and participates in the capitalization of Banca Rothschild.

Standard Capital Shareholdings, Inc. (Standard) is the holding company of 100% of the shares of Barents, a reinsurance group with presence in Europe, the Middle East, Latin America and Asia. It operates in 70 countries.

Banca del Fucino

The company offers a wide range of reinsurance products and specialties for property and accident insurers.

In the commercial aspect, Barents has strength in guarantee bonds, energy, property, construction and engineering, financial lines, renewable energy, civil liability, maritime cargo, life and accidents and health.

Dirk Bormann, Klaus Bultmann, Robert Koffler, Roberto Alfaro and Roberto Brenes, among others, participate in the company’s board of directors.