Algorithmic Insurance Services, Inc. (LIRG), a provider of data-driven reinsurance solutions, has signed a delegated underwriting authorization agreement with Malaysian reinsurer Mandarin Re Ltd.
The agreement grants the LIRG platform the authority to underwrite and bind policies and contracts up to $3 million each, consistent with agreed-upon underwriting guidelines.
This covers mixed property risk, property treaty reinsurance and industry loss warranty (ILW) structures, including traditional property catastrophe exposures and structured, index-based ILW transactions designed to meet the retrocession and capital management needs of cedants and reinsurers globally.
This arrangement enhances LIRG’s ability to deploy rigorous, data-centric capabilities across its global network while maintaining strict controls, reporting standards and oversight of its portfolio. LIRG has underwritten several ILW contracts with select partners since December 2025 and continues to expand its international offering through carefully structured capacity partnerships.
Mark Groenheide, CEO and President of LIRG, said: “We are very pleased to formalize this authorized underwriting rights with Mikhail and the entire Mandarin Re team. Mikhail brings an entrepreneurial mindset and deep expertise in structured and specialty reinsurance that is directly consistent with our approach.”
He added: “This license gives our MGU platform meaningful, flexible capabilities and significantly strengthens our market position. We look forward to building a long-term, rigorous product portfolio together.”
Mikhail Grishin, Chief Operating Officer of Mandarin Re, commented: “These are exciting times for Mandarin Re and our clients as we close the underwriting gap globally through innovative reinsurance structures. LIRG’s international reach is a powerful extension of our ability to support insurers in Latin America and further afield. Mark This binding mandate aligns perfectly with our vision and execution of innovative possibilities in risk transfer as we leverage recent capital increases through strengthened relationships that bring us closer to risk.”
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