Mandarin Re has promoted Andrés Obando to head of underwriting, placing him at the head of the Malaysia-based reinsurer’s property, casualty and specialty lines portfolio.
The appointment takes effect immediately and expands Obando’s responsibilities after a series of underwriting leadership roles within the company.
Obando joined Mandarin Re in 2023 as an underwriter. He later became a senior underwriter before taking on the role of head of underwriting for the Americas and African Division.
Before joining Mandarin Re, he spent nearly a decade at Munich Re. During that time, he worked as a business analyst, property underwriter, and facultative property underwriter. The roles gave him experience across both treaty and facultative reinsurance markets.
Earlier in his career, Obando held positions at International Traders Insurance Co. and Seguros Beta. He also worked in a management role for a boutique hotel group in Latin America.
Mandarin Re said Obando had demonstrated sound underwriting judgement and a commitment to portfolio quality during his time with the company. It also credited him with helping strengthen underwriting capabilities and supporting disciplined growth.
The promotion comes as facultative reinsurance attracts greater attention across Asia. A recent Aon report found insurers in the region are making wider use of facultative placements as pricing conditions shift. Buyers are seeking more tailored risk-transfer solutions for complex exposures as capacity remains available.
That backdrop may increase the importance of executives with experience in both treaty and facultative business. Obando’s underwriting background includes several years in facultative property underwriting at Munich Re.
The appointment follows a series of underwriting leadership moves across the Asia-Pacific reinsurance market. These have included senior underwriting appointments at regional reinsurers across the region.
Those appointments have coincided with softer reinsurance pricing conditions and growing emphasis on underwriting discipline as carriers compete for business across the region.
Obando’s experience spans both emerging and developed markets, reflecting Mandarin Re’s geographic reach across Asia, the Americas, and Africa. The company did not announce any changes to its risk appetite or portfolio strategy alongside the promotion.
The leadership change comes as reinsurers face a more competitive environment. Gallagher Re recently reported that global reinsurance capital had reached record levels, increasing capacity and placing pressure on pricing in several segments.
In such conditions, underwriting discipline and portfolio management become more significant. Reinsurers are balancing growth ambitions against profitability targets as competition for business intensifies.
Mandarin Re said Obando is expected to continue developing the company’s underwriting platform and supporting its market presence.
