Dr Fox and Mr Scott Wightman, the British High Commissioner to Singapore, met with Mr Kent Chaplin, CEO of Lloyd’s Asia Pacific, and toured the Lloyd’s Asia platform, which is Lloyd’s largest operation outside London providing tailored risk solutions across the Asia Pacific region.
This visit comes as part of Dr Fox’s three-day visit to the city-state to meet with Singapore and British businesses, underlining Britain’s openness and commitment to free trade.
Some facts about Lloyd’s Asia platform in Singapore:
- Opened in 1999, the Lloyd’s Asia platform in Singapore is the gateway to Asia Pacific for Lloyd’s.
- Its premium income has tripled since 2009 to reach US$618 million in 2015.
- Lloyd’s is the largest provider of off-shore reinsurance premium income in Singapore, according to figures from the Monetary Authority of Singapore.
- Lloyd’s syndicates write local and offshore business from Singapore through the establishment of local service companies.
- Lloyd’s Asia is the market’s largest hub outside London, comprising 21 service companies with 23 syndicates and over 380 people.
- The 21 service companies are Allied World, Antares, Argenta, Argo, Ascot, Aspen, Beazley, Brit, Chaucer, CNA Hardy, Markel, MS Amlin, Munich Re Syndicate, Newline, QBE, Sompo Canopius, Standard Syndicate, Starr, Talbot, Tokio Marine Kiln, and XL Catlin.
- Their specialist underwriters provide cover across a diverse range of risks in 47 classes of business, with property, marine, energy, cargo, and terrorism being the market’s largest lines.
Find out more about Lloyd's in Singapore
For further information, please contact:
Weber Shandwick for Lloyd’s
Tel: +65 6825 8077
Lloyd's is the world's specialist insurance and reinsurance market that offers a unique concentration of expertise and talent, backed by strong financial ratings and international licences. It is often the first to insure new, unusual or complex risks, providing innovative insurance solutions for local, cross border and global risks. Its strength lies in the diversity and expertise of the brokers and managing agents working at Lloyd’s, supported by capital from across the world. In 2017, more than 90 syndicates are underwriting insurance and reinsurance at Lloyd's, covering all lines of business from more than 200 countries and territories worldwide. Lloyd's is regulated by the Prudential Regulatory Authority and Financial Conduct Authority.