MNK Group has launched a specialty reinsurance subsidiary in Labuan, Malaysia, called Pt Mekong Re.
The business will offer flexible reinsurance solutions across Asia Pacific in addition to South Asia, the Gulf Cooperation Council (CGC) and Eastern Europe, providing additional capacity for specialty lines of business and hard-to-place risks.
Pt Mekong Re will focus on a spectrum of business lines, ranging from aviation and construction to property, energy and forestry, said MNK, the London-based reinsurer, underwriter and MGA.
The team has a deep understanding of the insurance and takaful market in Asia and will work to secure clients’ flexible reinsurance products, tailored to their requirements.
MNK Group has operations in every continent and a global network of MGAs, Broking, Insurance and Reinsurance companies. Through the group, Pt Mekong Re has access to Lloyd’s of London, helping it to support clients navigating challenging risks.
“I’m delighted to be launching Pt Mekong Re, and that we now have a team in place in Labuan. Following on from our acquisition of Oceanica De Seguros in Costa Rica, our new reinsurance company in Labuan underpins MNK Group’s global strategic ambitions,” according to Manoj Kumar, chairman of MNK Group.
“Pt Mekong Re provides us with a great platform to expand our services across Asia. Our expertise, backed by AA rated retrocession panel, is expected to provide real benefits to Pt Mekong Re’s clients across the continent,” he added.
The company will be led by Rajguru K, who has over 25 years of experience in the industry across Asia and Africa. Prior to his appointment as CEO of Pt Mekong Re, he was the co-founder and CEO of a reinsurance company in Mauritius as well as the director of Strategic Partnerships at Specialty MGA UK.
“With a lack of adequate capacity in Malaysia, Pt Mekong Re will fully cater to the market in the region, providing bespoke and innovative solutions to the ever-changing needs of our clients,” commented CEO Rajguru K.
“No matter the risk, we will provide comprehensive protection at the fairest possible price. We will not say no to a risk. From Japan and South Korea to Vietnam and Cambodia, Pt Mekong Re will provide real value for clients across the whole continent as an agile, flexible and highly compliant capacity provider,” he added.
MNK Group, founded in 2009 in the United Kingdom, includes a Lloyd’s broker (MNK Re) with operations in every continent, a web of MGAs (Specialty MGA in UK, Italy, US and Casablanca) and a Costa-Rican based insurance company (Oceanica De Seguros).
Source: MNK Group
Topics Reinsurance
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