Mandarin Re ltd. Top Managers continue to strengthen and develop worldwide business relationship by meeting partners face to face in spite of pandemic.
EventThe Management of Mandarin Re had a business trip from 18th of August to 16th October. The main purpose of this travel was to strengthen partnership with domicile and foreign brokers having face to face meeting in spite of the worldwide pandemic.
The Management of Mandarin Re visited Labuan, Kuala Lumpur, London, Dubai and Bahrain and had business negotiations with more than 20 partners, such as: PWS Labuan, Howden, Kay International, MNK Re, ALMS Group, United Insurance Brokers, JB Boda, Patrick York etc. Most brokers see the appearance of a Mandarin Re on the Middle East market as a positive factor, offering the following arguments:
• improving the quality of the insurers’ risk portfolios with a more professional and healthier approach to business, where Mandarin Re creates sufficient capacity and pursues rigorous underwriting policy;
• growing scope of internal reinsurance.
During the visit of co-located office of Mandarin Re in Kuala Lumpur the Management discussed important issues concerning underwriting work process to find more reinsurance solutions available on competitive terms for all types of underwriting risks. Tatiana Belova also interviewed Mr. Helmi Md Nor (the new Chief Development Officer, Asia Pacific) who is expected to bring more opportunities to the Company’s development in Asia Pacific.
It is important to say that the Management of the Company with the underwriters visited the main partners in Kuala Lumpur, such as HLAP thereby contributing to the closer interaction between underwriters.
There is one thing to be noted since the beginning of January, 2020 Mandarin Re has started actively to do business on the London’s market by signing the number of major treaties. The international trip was a perfect opportunity to meet the new Lloyds brokers to discuss possible cooperation and areas of reinsurance support.
During the business trip the Management of Mandarin Re managed to resolve significant issues concerning efficient operation, first of all, in terms of underwriting policy as well as loss adjustment.
The difficult situation with Covid-19 affects all areas of economic industry including insurance and reinsurance spheres. Therefore, such meetings between brokers and reinsurance companies are particularly valuable and carry much positive influence in global reinsurance as a whole.
