Lloyd's broker MNK Re eyes major opportunities in African market with key hire

Specialty Lloyd's broker  MNK Re has hired a new director to help expand its presence and portfolio in the African market that it says is growing rapidly despite the impact of Covid-19 pandemic.

Lesley Kruger (pictured) is joining the broker as director of business development, where she will lead on developing opportunities for MNK Re in the fast-growing South African insurance market.

Kruger will work with local brokers to offer clients specialised premium covers through the broker’s relationships with both Lloyd’s and other top-rated international insurers and reinsurers. She will have a particular focus on classes of businesses that are experiencing rapid growth, such as cyber, energy, marine, aviation and agriculture.

Kruger brings to MNK Re 26-years’ experience within the African markets, having recently been chief operating officer of a South African-based risk management company.

Her appointment sees further expansion of MNK Re’s presence on the continent, having launched MNK Re South Africa at the end of 2020, and plans to extend into other African territories. Kruger will provide an important link between the company’s African offices and headquarters in London.

Manoj Kumar, group CEO and managing director of MNK Re, said: “At MNK Re, we are expanding into new markets and pioneering lines of business. Lesley brings with her a strong vision for how MNK Re can continue its growth, especially in emerging markets.

“Africa’s insurance market is growing rapidly despite the impact of the pandemic. Lesley’s experience, combined with her unique understanding of the market and contacts, will help us to ensure that we continue to deliver innovative products to our clients.”

Kruger commented: “Our strength is that we can bring A-rated insurers into the boardrooms of small, independent intermediaries, which can seriously enhance their offer to their clients.

“There are major opportunities now, as African economies embrace digitisation. As a specialist global reinsurance broker, MNK Re can offer support to both small and medium sized insurers and brokers, giving them full access to global markets.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.