PRMS was set up in 2013 as a marketing office for Patria Re, Mexico (Patria Re), in an effort towards promoting a greater European presence. PRMS is a wholly owned subsidiary of Patria Re and is based in London.
Patria Re has been operating as a Latin American specialist since its inception but is now endeavouring to expand its underwriting scope in the global market. Patria Re aims to follow this initial formation with a proposed EEA-based carrier within the next two or three years.