Partnership claims to be Asia's first healthcare-focused MGA

Initiative aims to redefine regional coverage

Partnership claims to be Asia's first healthcare-focused MGA

Life & Health

By Roxanne Libatique

RedRay MGA Pte Ltd has been selected as the exclusive underwriting agent for Everest International Reinsurance Limited’s Singapore Branch (EIS).

The appointment grants RedRay the authority to underwrite Medical Malpractice Liability Insurance and other related coverages for healthcare clients across Asia.

EIS confirmed that it has received regulatory approval to appoint RedRay as its exclusive managing general agent (MGA) for healthcare.

RedRay claims that this move marks a first in Asia, becoming the region’s only healthcare-focused MGA working exclusively with a reinsurer.

The MGA’s portfolio spans a variety of clients, ranging from individual healthcare practitioners and allied health organizations to larger institutions such as hospitals, clinics, aged care facilities, and other specialised medical entities. RedRay will also provide tailored commercial insurance packages, offering clients options to consolidate policies and potentially reduce costs.

Expanding in Asia’s growing healthcare market

The collaboration aligns with Everest’s strategic goals in Asia, where the healthcare industry is undergoing rapid development due to aging populations, increased healthcare spending, and technological advancements.

Tomi Latva-Kiskola, Everest’s regional head of insurance for Asia, said the partnership with RedRay stems from the company’s strategic alignment to target and grow in the fast-expanding healthcare sector.

“RedRay’s deep understanding of the unique exposures and expertise in this sector make it an ideal partner to expand our capabilities in Asia,” he said.

What is happening in the Asian healthcare market?

Asia’s healthcare landscape is evolving quickly, with governments and private institutions investing in upgrades to infrastructure, digital health innovations, and workforce training. These trends have created significant opportunities for insurers and reinsurers to address the sector’s unique risk profiles.

Christopher Rummery, CEO of RedRay MGA, commented on the partnership, noting its importance for both companies’ growth strategies.

“Building capacity with partners in rapidly growing sectors of the marketplace lies at the heart of our business. We complement insurance companies like EIS, which have growth ambitions in specialty lines of business, as they can quickly and efficiently tap into our entrepreneurial mindset, robust products, and geographical expertise,” he said.

Kamal Hamzah, RedRay’s head of healthcare and liability, added that the partnership comes at a critical time for healthcare providers.

“Our partnership with EIS is well-timed as the healthcare industry continues to evolve and impact the indemnity needs of practitioners and institutions alike. Having medical malpractice specialists in the Asia-Pacific region with close to 20 years’ experience, coupled with our agility and innovation, allows us to deliver market-leading solutions for all our healthcare clients,” he said.

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