MNK Group establishes Labuan-based reinsurance entity Pt Mekong Re

MNK Group has established Pt Mekong Re, a Labuan-domiciled reinsurance entity, aimed at providing additional capacity for specialty lines of business and hard-to-place risks.

Through the group, Pt Mekong Re has access to Lloyd’s of London and aims to offer flexible reinsurance solutions across the Asia Pacific, as well as South Asia, the GCC, and Eastern Europe.

The entity will be led by Rajguru K as the Chief Executive Officer (CEO), he has over 25 years of industry experience across Asia and Africa.

He is responsible for a team of professionals with feet on the ground in Malaysia, who have a deep understanding of the insurance and takaful market in Asia.

They will focus on delivering flexible reinsurance products tailored to clients’ specific needs. Additionally, the firm will also focus on aviation and construction, property, energy, and forestry.

Prior to this, Rajguru co-founded and served as the CEO of a reinsurance company in Mauritius, and was also the Director of Strategic Partnerships at Specialty MGA UK.

Manoj Kumar, Chairman, MNK Group, commented: “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.

“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.”

Rajguru K added: “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. Our team of experts have a deep understanding of their sectors coupled with significant local knowledge, allowing us to help customers across Asia with hard-to-place and difficult risks.

“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.”

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