Starr Companies announced that it has received a direct general license from the Monetary Association of Singapore (MAS) to operate as a direct insurer in the Republic.
The insurance license was specifically granted to Starr International Insurance (Singapore) Pte. Ltd., a wholly owned subsidiary of Starr Insurance & Reinsurance Limited. Starr’s insurance offerings to the market include property, casualty, marine, aviation, financial lines and political risk insurance solutions.
The bulletin noted that the license “continues to expand Starr’s footprint in the Asia-Pacific region.” Ed Navarro, Head of International Insurance Operations for Starr Companies expressed his pleasure that the “MAS has granted a full license and we are confident about the opportunities in Singapore.”
Starr Companies also announced the hiring of Chat Tat Yoong as the Principal Officer of the Singapore operations, noting that he “is a well-regarded insurance industry executive with over 20 years’ experience. Prior to his insurance career, Tat Yoong served in the Singapore Ministry of Defense.
Navarro added, “Tat Yoong’s experience running branches for multi-national insurance companies as well as his excellent relationships will serve us well as we expand our operation.”
Source: Starr Companies
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