Lloyd’s broker MNK Re continues South African expansion with new CEO
Specialist Lloyd’s of London re/insurance broker MNK Re Group has hired a new chief executive of its South Africa business to lead its expansion across the continent.
Vanida Pillay (pictured) has over 30 years of industry experience and a deep understanding of the African market. She brings with her extensive network of contacts to lead new business opportunities, MNK Re said.
A key part of her role will be to expand MNK Re’s presence in the region and by developing new products, with a particular focus on construction, power, single project PI insurance (SPPI), cyber and decennial liability.
Pillay has spent the majority of her career working in the South African market, with experience across many lines of business. She brings a particular expertise on infrastructure and power projects, having written business in countries across Africa for large international insurers.
Manoj Kumar, group chief executive and managing director of MNK Re, said: “Vanida is the perfect person to lead our work in South Africa and across the continent. She shares our passion for nurturing partnerships and has a great reputation across Africa. Her experience in both underwriting and broking means she will play a key role in growing our own underwriting capacity. I am confident that she will drive our business in the region and ensure that we continue to innovate and provide the best solutions for clients.”
Kumar added: “Since we first set up our presence in South Africa in 2020, we have seen first-hand how rapidly the market in Africa is growing. This high-level appointment underscores our commitment to this market. At MNK Re, we understand the continent’s potential and the opportunities it has on offer. We have an exciting range of products with more in the pipeline that we are looking forward to sharing with the market.”
Pillay commented: “I knew that MNK Re, with its emphasis on developing bespoke and innovative solutions, especially in emerging markets and risks, would be the perfect place for me.
“There is so much opportunity in Africa, especially in infrastructure and power projects, where clients need more capacity and access to innovative solutions. MNK Re has number of unique products to help our clients and I’m very much looking forward to working with them. We have a great team here and some really exciting things already planned for the market.”
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