Malaysian Reinsurance Berhad (Malaysian Re) has signed a Memorandum of Understanding (MOU) with Argo Managing Agency Limited to formalise its agreement to provide underwriting and technical support.
Argo Managing Agency is a member of Argo Group, and manages ArgoGlobal Syndicate 1200 (Argo) and Ariel Re Syndicate 1910 at Lloyd’s.
Additionally, Malaysian Re and Argo have agreed to collaborate on the development and distribution of specialty products for the Malaysian and regional markets.
Zainudin Ishak, President and Chief Executive Officer (CEO) of Malaysian Re, said: “I am excited to be working closely with Argo. This partnership is strategic in nature and a key component of Malaysian Re’s Business Transformation 2020 (T20) in asserting our regional market leadership and fulfilling the company’s long-term vision to become the regional leading reinsurer.”
Dominic Kirby, Managing Director of Argo Managing Agency, also commented: “We are excited about our partnership with Malaysian Re and look forward to mutually profitable growth and launching more innovative products for the Malaysian market in the near future.”
Veronica Grigg, CEO of ArgoGlobal Asia, added: “For Argo, the partnership with Malaysian Re complements our strategy of diversifying our distribution from the traditional market channels by partnering with well-established regional reinsurers such as Malaysian Re”.