London-headquartered MNK Group has launched Mekong Re, a reinsurance company with a strong suit in niche and specialty solutions, in Labuan, Malaysia.
The business will offer flexible reinsurance solutions across Asia Pacific in addition to South Asia, GCC and Eastern Europe, providing additional capacity for specialty lines of business and hard-to-place risks. Mekong Re will focus on a spectrum of business lines, ranging from aviation and construction to property, energy and forestry.
The reinsurer’s team of professionals with feet on the ground in Malaysia 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, according to a corporate statement.
Through the MNK Group, Mekong Re has access to Lloyd’s of London, helping it to support clients navigating challenging risks.
MNK Group chairman Manoj Kumar said, “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.”
The company will be led by Mr Rajguru K, who has over 25 years of experience in the industry across Asia and Africa. Prior to his appointment as CEO of Mekong Re, Rajguru was the co-founder and CEO of a reinsurance company in Mauritius as well as the director of Strategic Partnerships at Specialty MGA UK.
MNK Group, founded in 2009 in the United Kingdom, includes a Lloyds broker (MNK Re) with operations in every continent, a web of MGAs (Specialty MGA in the UK, Italy, the US, and Casablanca) and a Costa-Rican-based insurance company (Oceanica De Seguros).