MNK Group has launched a new reinsurance entity, Pt Mekong Re, based in Labuan, Malaysia.
The company is set to provide reinsurance solutions across the Asia Pacific, South Asia, GCC, and Eastern Europe regions. Pt Mekong Re will focus on offering additional capacity for specialty lines and hard-to-place risks, with business segments including aviation, construction, property, energy, and forestry.
With a local team in place, the company said that it aims to address the needs of clients seeking flexible reinsurance products tailored to their specific requirements. Pt Mekong Re’s operations benefit from the expertise of professionals familiar with the insurance and takaful markets in Asia.
Pt Mekong Re is part of MNK Group, a London-based global insurance and reinsurance network. The group operates across multiple continents and connects with Lloyd’s of London to help its clients manage complex risks.
MNK Group chairman Manoj Kumar (pictured above) highlighted the strategic importance of the launch, noting that the new entity strengthens MNK Group’s global ambitions following the recent acquisition of Oceanica De Seguros in Costa Rica.
“Pt Mekong Re provides us with a great platform to expand our services across Asia. Our expertise, backed by [an] AA-rated retrocession panel, is expected to provide real benefits to Pt Mekong Re’s clients across the continent,” Kumar said.
The newly formed reinsurance entity will be led by CEO Rajguru K, who has over 25 years of experience in the industry across Asia and Africa.
Rajguru was previously the co-founder and CEO of a reinsurance company in Mauritius and served as director of strategic partnerships at Specialty MGA UK.
Rajguru said that Pt Mekong Re will address the regional market’s capacity gaps by offering tailored solutions to meet the evolving needs of clients.
“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,” Rajguru said.
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