Aligning the Course of Puerto Rico’s Future: A Conversation with Our President, Atty. Ramón Pérez Blanco, CPCU

Every great industry has an origin story. For the modern insurance sector, it began centuries ago in a London coffee shop owned by Edward Lloyd—a bustling hub where merchants, sailors, and financiers gathered to share insights on their maritime voyages and cargo. These informal gatherings sparked the concept of “risk transfer,” which, as Atty. Ramón Pérez Blanco describes, “was the early framework of what we see in insurance today: putting money into a common ‘pot’ so that, if the unexpected happens, the resources are there to help restore or rebuild.”

At Fulcro, we’ve embraced this pioneering spirit of resilience and innovation since 1981, when our co-founders Ramón ¨Tony¨ Pérez Dominguez, and business partner Amalia Rosa Fernández launched a brokerage firm from the ground up. In a recent conversation at the Universidad del Sagrado Corazón’s Business Speaker Series, our current President, Atty. Ramón Pérez Blanco, shared personal reflections on leadership, economic development, and the critical role of insurance in shaping Puerto Rico’s future. Below are highlights from that engaging discussion.

From Coffee Shops to Global Networks: Tracing Insurance’s Roots

Expanding on the industry’s origins, Pérez Blanco explained how maritime commerce in the 15th and 16th centuries spurred new financial mechanisms to manage the risks of long ocean voyages—especially for explorers who lacked royal sponsorship. “If a ship made it safely to shore, investors collected their premium,” he noted. “If it sank, they suffered the loss.” That pooling of capital, he emphasized, laid the groundwork for modern-day insurance.

At Fulcro, this collaborative ethos underscores how an effectively structured policy can help businesses remain forward-focused: “A well-structured insurance solution,” he suggests, “prevents entrepreneurs from staying paralyzed by uncertainty and instead allows them to innovate.”

A Personal Journey: Mentors, Education, and Leadership

Pérez Blanco also offered a glimpse into his own path. Growing up in Puerto Rico, he was inspired by his father’s devotion to the insurance industry. Eager to learn, he pursued a formal education in Risk Management and Insurance at Georgia State University and worked in London’s reinsurance market. Later, he returned home.

“I returned to Puerto Rico in 2004,” he said. “It was never a given that I’d end up at Fulcro Insurance, but it was ultimately the best decision. My father insisted I learn each aspect of the brokerage—technology, claims, operations, sales—without stepping on anyone’s toes. That approach helped me develop a broad view and deep respect for the team.”

Over time, Pérez Blanco rose through the company’s ranks, leading Fulcro’s expansion into the United States. In 2011, he was named President. Since then, Fulcro has grown substantially, holding licenses in more than 25 jurisdictions and employing over 100 people.

Navigating Economic Ups and Downs

Like many businesses, Fulcro has faced fluctuating market conditions and broader economic challenges in Puerto Rico. Pérez Blanco noted that these downturns, while difficult, often sparked growth through strategic changes: “We’ve seen a few big dips,” he acknowledged. “But it’s in those moments you roll up your sleeves, rethink your strategy, and find exponential growth after the crisis. We see it as part of the business cycle—staying resilient is built into our DNA.”

A Wider Mission: Advocacy for Puerto Rico

Beyond guiding Fulcro’s operations, Pérez Blanco has actively supported local enterprise, serving in leadership roles at the Puerto Rico Products Association (Hecho en Puerto Rico) and, most recently, as President of the Puerto Rico Chamber of Commerce. He frequently travels to Washington, D.C. to advocate for policies that bolster the island’s economy.

“The private sector in Puerto Rico must be present at the table where decisions are made—especially in Washington,” he stressed. “If we aren’t proactive in educating lawmakers on the island’s needs, we leave that space vacant. Our goal is to highlight how crucial private enterprise is to long-term growth.”

Demography and Development: The Challenge Ahead

Of particular concern to Pérez Blanco is Puerto Rico’s shifting demographics. With low birth rates and a steady outmigration, the island’s population is shrinking and aging.

“If you’re designing an economic plan,” he observed, “you have to factor in who will live and work here 10 or 15 years down the line. The data show Puerto Rico is aging rapidly and losing population. That means we have to be thoughtful about attracting and retaining talent, ensuring that educational programs align with a changing market, and deciding where to invest resources.”

He added that these demographic pressures also inform Fulcro’s quest to develop more flexible, robust insurance solutions that meet evolving socio-economic needs.

The Role of Higher Education

Higher education, Pérez Blanco believes, should be a foundational element of Puerto Rico’s development strategy. Reflecting on his own time as a university student and visiting professor, he said, “No economy becomes truly prosperous without locally developed knowledge and intellectual property. We need our universities—and the brilliant minds within them—to anchor ecosystems of growth. When you look at success stories around the world, you see major businesses clustering around universities.”

In his view, enhanced collaboration between academia and the private sector can spur long-term economic gains, generating jobs and retaining top talent on the island.

Advice for the Next Generation of Business Leaders

Wrapping up his talk, Pérez Blanco offered two guiding principles for emerging professionals. First, he stressed the importance of consistency and reliability, saying, “If you simply do what you say you’re going to do—when you say you’ll do it—you’ll have a competitive edge in any field.” Second, he encouraged young leaders to build strong human connections, explaining, “Technology is evolving, but business remains deeply personal. Strong, genuine relationships—with colleagues, clients, and mentors—are the core of any lasting success.”

He sees it as the same spirit of collaboration that once drove merchants to gather in a London coffee shop, underscoring that “nurturing relationships and sharing knowledge are as relevant now as they were in the days of Edward Lloyd.”

Looking Ahead Together

Fulcro’s journey symbolizes an unyielding commitment to Puerto Rico’s economic and social prosperity. From our beginnings in 1981 to our dynamic operations across multiple jurisdictions today, we’ve harnessed risk management to enable growth and opportunity. As the island deals with demographic shifts and an ever-changing global marketplace, Atty. Pérez Blanco reassures that Fulcro “remains steadfast in our mission: empowering businesses and individuals to secure their futures through robust insurance solutions, guided by integrity, innovation, and community values.”

Thanking the Universidad del Sagrado Corazón for hosting such a thought-provoking forum, . Pérez Blanco closed with a reminder: “At Fulcro, we’re more than an insurance broker. We’re your partners in shaping a stronger, more secure tomorrow for Puerto Rico.”

Interested in Learning More?

Visit our website or call us at 1-787-725-5880. We look forward to discussing how Fulcro can help your business navigate risk and seize new opportunities.