Algorithmic Insurance Services, Inc., trading as LIRG (Latin International Reinsurance Group), a company providing data-driven reinsurance solutions, has signed a Delegated Underwriting Authority agreement with Mandarin Re Ltd., a Malaysian reinsurer.
The agreement grants LIRG’s platform the authority to underwrite and bind policies and contracts of up to $3 million each, in line with agreed underwriting guidelines.
This covers facultative property risks, property treaty reinsurance, and Industry Loss Warranty (ILW) structures, including both traditional property catastrophe exposures and structured, index-based ILW transactions designed to meet the retrocessional and capital management needs of cedents and reinsurers worldwide.
The arrangement enhances LIRG’s ability to deploy disciplined, data-focused capacity across its global network while maintaining stringent controls, reporting standards, and oversight of its portfolio. Since December 2025, LIRG has underwritten several ILW contracts for select partners and continues to broaden its international offering through carefully structured capacity partnerships.
Mark Groenheide, CEO & President of LIRG, said: “We are extremely excited to formalise this Delegated Underwriting Authority with Mikhail and the entire Mandarin Re team. Mikhail brings an entrepreneurial mindset and deep expertise in structured and specialty reinsurance that aligns directly with our approach.”
He added: “This authority gives our MGU platform meaningful, agile capacity that significantly strengthens our market position. We look forward to building a long-term, disciplined portfolio together.”
Mandarin Re COO Mikhail Grishin commented: “These are exciting times for Mandarin Re and for our clients as we close down coverage gaps around the world with innovative reinsurance structures. LIRG’s international reach is a powerful extension of our ability to back insurers in Latin America and further afield. Mark’s vision and execution of innovative possibilities in risk transfer dovetails perfectly with our own. This binding authority will be invaluable as we leverage our recent capital increase through strengthened relationships that take us closer to risk.”
