Aspen To Expand Operations Into Singapore
Bermuda-based Aspen Insurance Holdings Limited announced the entry of its insurance segment, Aspen Insurance, into Singapore through Aspen’s Lloyd’s syndicate on the Lloyd’s Asia platform from 1 January 2016, subject to regulatory approval.
“The establishment of Aspen’s insurance presence in Singapore is consistent with Aspen’s strategy of leveraging its existing strength and expertise in certain product lines in its target markets globally,” the company said.
“Aspen Insurance’s Singapore operation will initially focus on the provision of Onshore and Offshore Energy, Marine Hull, Accident and Health, Terrorism, Financial and Corporate Risks, Professional Indemnity, Technology, Data Protection and Cyber and Credit and Political Risk insurance risks.”
Ann Haugh, President, Aspen International Insurance and Chief Operating Officer, Aspen Insurance, said: “In Singapore we will continue to deliver the highest standards of underwriting and customer service for which we are known, offering expertise to clients and brokers locally.”
She added: “We look forward to engaging with brokers and focusing on the opportunities created by our closer proximity to existing and new clients.”
The Singapore insurance operation will be led by Yann Marmonier, who is joining Aspen as Principal Officer and Managing Director. Yann was previously Singapore Country Manager at XL Catlin. Prior to this, he held senior roles with Catlin in Singapore, including branch Chief Executive Officer.
Paul Hackett has been appointed Head of Marine for the Singapore office and was most recently at XL Catlin in Singapore. He previously spent almost 20 years with RSA in underwriting and management positions.
Ann Haugh commented: “Yann and Paul have proven experience and strong track-records in developing businesses in Singapore and I am delighted that they are joining Aspen Insurance at this exciting time.”
