Standard Syndicate branches into Asian marine

Charles Taylor-managed The Standard Syndicate 1884 has been given the green-light to underwriter marine and energy insurance covers in Asia.

Following approval from the Monetary Authority of Singapore and Lloyd’s Asia, Syndicate 1884 will start underwriting this month through a new Lloyd’s Asia service company, The Standard Syndicate Services Asia.

The syndicate, which launched on April 1, 2015, writes hull, energy, liability, property, cargo and specie and corporate lines.

Robert Dorey, active underwriter of Syndicate 1884, said: “We believe there will be a significant demand for our marine insurance covers in Singapore and across the wider Asian market.  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.

“Lloyd’s Asia is the ideal platform for us to develop our business in Singapore and across the Asian economies.  It enables us to underwrite locally, while offering our clients the same highly-rated Lloyd’s-backed security as that available from The Standard Syndicate in London.”

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 and hull, energy, property, aviation, political risk, trade credit and engineering and construction business.

"The Standard Syndicate’s international marine expertise and business relationships are a welcome addition to the Lloyd’s Asia platform.”