Beazley Group plc has increased its stake to 100 percent in Asia Pacific Underwriting Agency Limited (APUA), a Hong Kong based insurance underwriting agency, that sources business throughout Asia from insurance intermediaries.
The decision reflects Beazley’s drive to expand its network to develop access to business in local markets under the Beazley brand name. Under full ownership, Beazley expects to expand some product lines.
Established in Hong Kong in 1997, APUA is a specialist underwriter of professional indemnity, directors and officers’ liability and non-financial institution crime and terrorism risks throughout the Asian region. Beazley has had a strategic partnership with APUA since 1997.
Source: Beazley Group plc
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