MNK Re targets SMEs in Latin America with new energy reinsurance facility

MNK Re, an independent reinsurance broker of specialist risks into Lloyd’s, has launched its new energy facility, designed to provide reinsurance solutions specifically to meet the demands of small to medium-sized businesses (SMEs) across Latin America.

This new facility will offer capacity of up to $50 million per declaration, which will prove particularly beneficial for businesses that may not be able to meet the minimum premium requirements of the London and Lloyd’s markets, explains the broker.

The new facility covers all energy sectors including upstream, midstream, downstream, power generation and renewable energy for any country in Central and South America, and provides a market-first option for clients and brokers across the region.

Although the product primarily targets SMEs, it can also consider larger programmes if required.

MNK Re says that it identified a lack of competitive capacity from the international reinsurance market for energy-related risks stemming from Latin America.

Manoj Kumar, Group Chairman, commented, “As MNK Re continues to grow, Latin America is a key focus for us in 2025, with our new facility providing an appealing alternative from the international market. In the long run, we will look to expand the facility further including the Caribbean, Africa, Asia and US markets.”

Adam Bragg, Managing Director for International Property, Construction and Engineering at MNK Re, added, “MNK Re has had a long-standing relationship with Latin American clients and we receive frequent enquiries from businesses based there that do not meet the minimum premiums of the Lloyd’s market. Our new facility gives both greater flexibility, given the size of risk and classes of business it can cover and competitive pricing, making it an attractive offer for companies across Latin America.”

Ricardo Retana, Chief Executive Officer, MNK Re Latin America & Caribbean, said, “Our facility will provide clients with comprehensive coverage across all aspects of energy. We will be meeting clients face to face across Latin America, ensuring that we provide a bespoke and long-lasting solution for smaller businesses looking to mitigate their risk.”

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