MNK Re launches Latin America energy reinsurance facility

U.K.-based MNK Re has launched a new energy reinsurance facility aimed at small to medium-sized businesses in Latin America, offering up to $50 million in capacity per declaration, Captive Insurance Times reports. The facility covers all energy sectors, including upstream, midstream, downstream, power generation, and renewables, and aims to take advantage of the lack of competitive capacity in the region. While primarily targeting SMEs, it can accommodate larger programs, with plans to expand into the Caribbean, Africa and Asia.