Kuala Lumpur, 25 May 2018 - Malaysian Reinsurance Berhad (“Malaysian Re”) has signed a Memorandum of Understanding (“MOU”) with Argo Managing Agency Limited which manages ArgoGlobal Syndicate 1200 ("Argo”) and Ariel Re Syndicate 1910 at Lloyd’s; for provision of underwriting and technical support.
“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 ”, said Malaysian Re President & CEO, Zainudin Ishak.
In addition, Malaysian Re will also be working closely with Argo in the development and distribution of specialty products for the Malaysian and regional markets.
Dominic Kirby, Managing Director, Argo Managing Agency, said: “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, 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”.
ABOUT MALAYSIAN RE
Malaysian Re, Malaysia’s national reinsurer, underwrites all classes of general reinsurance and takaful business. It is an ‘A-‘ rated reinsurer by A.M. Best and Fitch Ratings, commanding the largest market share in the Malaysian market with growing international stature in Asia-Pacific and Middle East markets. Malaysian Re is a subsidiary of MNRB Holdings Berhad, which is listed on the Main Market of the Bursa Malaysia. For more information, please log on to http://www.malaysian-re.com.my.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NYSE: ARGO) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo Group's insurance subsidiaries are A. M. Best-rated 'A' (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo Group's U.S. insurance subsidiaries are Standard and Poor's-rated 'A-' (Strong) with a stable outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com.