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Asian News - Asia: Standard Syndicate to underwrite marine risks in Asia

Source: Asia Insurance Review | Jul 2015

The Standard Syndicate (Syndicate 1884) has announced that it is to underwrite a broad range of marine and energy insurance covers throughout Asia through a new Lloyd’s Asia service company, The Standard Syndicate Services Asia Pte Ltd.
   The service company has received regulatory approval from the Monetary Authority of Singapore and Lloyd’s Asia to commence underwriting in June 2015.
   The Standard Syndicate 1884 was established by The Standard Club, a leading marine protection and indemnity (P&I) mutual insurer. It commenced underwriting on 1 April 2015 and offers a range of marine and marine energy covers.
   Mr Robert Dorey, Active Underwriter, The Standard Syndicate said: “Syndicate 1884, which has already started underwriting in London, has got off to a strong start. By establishing a presence in Singapore we can provide the same, highly focused, marine underwriting capability to ship owners and other clients across Asia through their local and Lloyd’s brokers.”
   Mr Kent Chaplin, Lloyd’s Head of Asia Pacific and Managing Director of Lloyd’s Asia, said: “I am delighted to welcome The Standard Syndicate to Lloyd’s Asia and see the capabilities and capacity of the Lloyd’s Asia platform go from strength to strength. Lloyd’s Asia now has 19 service companies providing tailored insurance and reinsurance solutions for clients across Asia Pacific and is a recognised market leader in Marine Cargo & Hull, Energy, Property, Aviation, Political Risk, Trade Credit and Engineering & Construction business.”
 
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