XL Insurance, the global insurance operations of Bermuda’s XL Capital Ltd., has established a new branch office in Singapore, which it said would “act as the management and underwriting hub for the Asian region, with an initial focus on Directors and Officers Liability, Fine Art and Specie, Casualty, Energy and Construction insurance.”
Andrew Vigar, XL Insurance’s Regional Manager for Asia, will head the new facility.
Stefan Zemp, XL Insurance’s Regional Chief Operating Officer for Continental Europe and Asia, called the establishment of a branch in Singapore “an important step in XL Insurance’s long-term commitment to the Asian market.” He added that it would strengthen XL’s presence in the region, and would enable “us to better respond to the insurance needs of our growing customer base across Asia.”
Vigar added: “This move allows us to provide significant insurance capacity and expertise locally. We will underwrite business for local companies looking to manage their overseas exposures and foreign companies operating in Asia. Our focus is on offering flexible risk management solutions, including risk engineering, to support client companies across the region with their individual insurance requirements.”
Source: XL Insurance – www.xlinsurance.com.
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