Labuan-headquartered property and specialty lines reinsurer, Mandarin Re, has hired Rafael Vargas Palomo from Munich Re as Underwriter for Latin America.
In his new role, Vargas will drive Mandarin Re’s growth in Latin America, strengthening the firm’s already established network of underwriting specialists and distribution experts.
Vargas is a structural engineer by training, and has worked at global reinsurer Munich Re in Mexico City for the past 16 years, most recently as Head of Facultative & Corporate for the Latin America region.
Mikhail Grishin, Board Member and Chief Operating Officer, Mandarin Re, commented on the appointment, “We see enormous untapped opportunity in Latin America. It’s well within our mission of delivering quality risk capital in underserved areas.
“By drawing on local underwriting expertise, and with Rafael bringing his decades of experience in local facultative markets, we will deliver high-quality support to local insurers and brokers, while deploying our increasing capital against fairly priced risk.”
Vargas added, “I am excited about working with Mikhail and Mandari Re. Their technology-fuelled approach to underwriting and portfolio management is miles ahead of what others are using, and their existing network of contacts is enviable. Together we will make Mandarin Re an important local market for facultative and speciality risk across Latin America.”
