Startup Mekong Re sets out its plans

Founded in 2024 as a Tier 2 reinsurer based in Labuan, Mekong Re is the latest player to emerge from specialist re/insurance broker MNK Group, which has been operational since 2009.

“Our strategy blends deep local market knowledge with technical underwriting expertise.”

Talking to SIRC Today at the Singapore International Reinsurance Conference, Rajguru K, chief executive of Mekong Re, was keen to discuss Mekong Re’s team and its affiliation with the wider MNK Group. This relationship provides Mekong Re with access to reinsurance services and market intelligence, he said.

“Mekong Re is rich with talent and experience in its own right,” said Rajguru K. “What sets it apart is its connection to the wider MNK Group, which provides access to a broad spectrum of bespoke reinsurance service offerings.

“Our strategy blends deep local market knowledge with technical underwriting expertise and a client-centric approach.”

Although Mekong Re has global ambitions, its primary focus lies within the Southeast Asia region. The company aims to serve markets in Malaysia, Thailand, Singapore, Laos, Cambodia, Vietnam, Indonesia, and the Philippines and aspires to expand further into China and Korea.

“As the name suggests, we will be focusing on Southeast Asia and beyond, but we are open to other continents as well,” explained Rajguru K.

Open for business

Since its inception, Mekong Re has been forming partnerships. It now has a retrocessional programme with AA-rated markets in place and is now “open for business”, states Rajguru K. It will now look to write treaty reinsurance, large facultative business, and non-traditional classes.

On this basis, he is bullish on quickly gaining a footprint in specific regions. One of these is Malaysia, a place where he says the reinsurance market is “mature and developed”.

He describes Southeast Asia as a “mixed pot of capacity buyers and sellers”, with the Philippines, Laos, Cambodia, and Indonesia as primary buyers, and Singapore as a notable seller of reinsurance. This balance broadly ensures a stable rate environment, even as non-traditional classes grow. “There is a need for non-traditional classes for which the market is ready to pay a price,” he observes.

As a new reinsurer, Mekong Re is acutely aware of the importance of creating a reputation for reliability, especially in catastrophe claims. “Our primary goal is to stand true to the group reputation and deliver on claims,” Rajguru K said.

Additionally, the company aims to cater to the Takaful market in its purest form, reflecting a commitment to specialised reinsurance solutions.

“We aim to be a lead market, supporting the ever-changing and dynamic needs of relevant capacity,” said Rajguru K.

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