MNK Re introduced an energy facility with a capacity of up to $50mn for small and medium-sized businesses across Latin America. The company plans to expand further.
MNK Re cited limited international reinsurance options for energy-related risks in Latin America as a key reason for launching the facility.
While designed for SMEs, it can accommodate larger programs if needed, the reinsurance broker said.
The facility provides up to $50mn per declaration, supporting businesses unable to meet the London and Lloyd’s markets’ minimum premium requirements. MNK Re described it as a market-first option for clients and brokers in the region.
Group Chairman Manoj Kumar stated that Latin America remains a priority for 2025, with the facility offering an alternative to international markets. He added that MNK Re aims to expand coverage over time to include the Caribbean, Africa, Asia, and the U.S.
MNK Re has strong ties with Latin American clients and regularly receives inquiries from businesses that do not meet Lloyd’s market premiums
Adam Bragg, managing director for international property, construction, and engineering
“This facility offers more flexibility in risk size and business classes while maintaining competitive pricing, making it an attractive choice in the region.”
It covers all energy sectors, including upstream, midstream, downstream, power generation, and renewables, in every Central and South American country.
Separately, Redline Underwriting recently introduced a general aviation insurance solution in partnership with Allianz Commercial. Designed for Latin American and Caribbean markets, the solution covers private, pleasure, and business aircraft, including fixed- and rotor-wing models.
