NEW YORK - Wednesday, March 21st 2012 [ME NewsWire]
(BUSINESS WIRE)-- 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.
This new regional hub continues to expand Starr’s footprint in the Asia-Pacific region.
“We are pleased that the MAS has granted a full license and we are confident about the opportunities in Singapore,” says Ed Navarro, Head of International Insurance Operations for Starr Companies.
In addition, Starr Companies has announced the hiring of Chan Tat Yoong as the Principal Officer of the Singapore operations. Tat Yoong 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.
Mr. 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.”
Starr Companiesis the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment management business of C.V. Starr & Co., Inc. Starr Companies is a global, privately-held insurance and investments organization. Through its operating insurance companies, Starr Companies provides customized insurance products worldwide, with significant access to the U.S. excess and surplus marketplace for certain lines of business. Starr Companies underwrites a wide variety of property, casualty, and specialty lines, including accident & health, aviation, construction, crisis management, energy, environmental, marine, and primary & excess casualty insurance. Starr Companies also provides a broad spectrum of insurance-related services, including claims handling and settlement, reinsurance, risk assessment, loss control, and worldwide travel assistance services.
For more information visit us at www.starrcompanies.com
Contacts
Starr Companies
John Thompson, 646-227-6780
john.thompson@starrcompanies.com
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