Mandarin Re Receives Regulatory Approval to Establish Retakaful Window
ArticleLabuan, 3 November 2026: Mandarin Re Ltd., the disciplined reinsurer that delivers
long-term support to global cedants across property and specialty lines, especially in
underserved markets, is delighted to have received approval from the Labuan Financial
Services Authority to establish a retakaful window, pursuant to Sec. 77(4) of the Labuan
Islamic Financial Services and Securities Act (2010). A retakaful window is a division
within a conventional reinsurer that offers Shariah-compliant reinsurance.
Dr Mohd Rofaizal bin Ibrahim of Afsha Shariah Advisory Sdn. Bhd., a lecturer at the
Islamic University of Selangor, acts as Shariah Advisor to Mandarin Re. Treaties and
programmes can be structured to support wakalah, mudharabah, and wakalah-waqf
takaful providers.
With this licence, Mandarin Re is now able to help takaful operators world-wide to
access additional capacity, allowing them to better serve their communities. For
Mandarin Re, the establishment of a retakaful window adds an important new and
diversifying element in support of international growth. Initial development will focus on
partnership development with takaful operators, brokers, and fi nancial institutions in
Southeast Asia and selected Middle Eastern markets.
Chief Underwriting Officer Arthur Underwood, who has extensive experience in the
structuring and delivery of Shariah-compliant risk-sharing products for primary takaful
providers, is to lead Mandarin Re’s work in the fi eld. Mandarin Re will use its strong
market connections in Malaysia, Indonesia, Brunei, Pakistan, and the Middle East to
extend Shariah-compliant capital to business partners in those areas.
Chief Executive Officer Redzal bin Mohamad said, “I have worked with Shariah-
compliant products for most of my career. It brings me great pleasure to at last be able
to offer risk-sharing solutions compliant with my own faith, built on ta’awun (mutual
assistance) and joint responsibility, through Mandarin Re.”
Chief Operating Officer Mikhail Grishin said, “This is not simply a regulatory
achievement. It’s an important strategic step in our development as a global reinsurer
that delivers much-needed risk capacity to underserved markets around the world.”
Arthur Underwood, Mandarin Re’s Chief Underwriting Officer, said, “Takaful companies
around the world are underserved, not just in the Middle East, but also in Europe and
North America. With this licence, we are able to help them provide for the members of
their communities by extending their ability to share risk.”
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Notes for editors
Media Contact:
Dr Adrian Leonard, Principal
Strategic Insurance Communications Ltd. [sic]
+44 (0)7977 130 093 (phone and WhatsApp)
About Mandarin Re
Mandarin Re, licensed in 2015, is an international short-tail-lines reinsurer
headquartered in the Labuan Financial Services Center, Malaysia. Mandarin Re
provides tailored solutions across property, engineering, marine, and aviation portfolios,
with a focus on underserved markets. The experienced underwriting and management
team works closely with brokers and cedents to cover the globe from Canada to
Indonesia, Colombia to Poland. Mandarin Re’s underwriting philosophy focuses on
careful risk selection and portfolio balance, ensuring consistent performance and long-
term partnerships.
