Asta expands global presence with Singapore launch
Lloyd’s third-party managing agent Asta has strengthened its global presence by establishing a service company in Singapore to take advantage of “extensive opportunities” in Asia.
The new entity will enable clients to establish a Lloyd’s operation directly in Asia, using one of Asta’s range of solutions. Audrey Lee Ling Peng is CEO of Asta Solutions Asia.
Asta said it will be offering a syndicate, syndicate-in-a-box (SIAB), or captive syndicate solution to clients wishing to participate on the Lloyd’s Asia platform. Asta will also be offering a services solution for existing Lloyd’s Asia platform participants.
Asta is also supporting Mosaic, which commenced underwriting operations through its Singapore platform this week.
The Singapore announcement forms part of a broader strategy to develop Davies Group’s presence in Asia and offer a range of services and solutions including bringing their captive management and MGA launch and host capabilities to clients in the region.
Simon Norton, chief underwriting officer of Insurance Services at Davies Group, said: “Asia represents a key development area for Asta and Davies. Asta’s new operations in Singapore will be central to our continued development as the leading third-party managing agent. We are committed to expanding Asta’s offering to areas where we see an increase in demand.”
Steven Crabb, CEO of Insurance Services at Davies Group, added: “Since our acquisition of Asta was finalised, we have a clear and ambitious growth strategy for our business, and I am certain that establishment of Asta Asia will support our development in the Asian market while being able to meet the needs of our clients who are looking to launch in the region.”
Mark Dyson, interim country manager, Singapore and interim CEO, Lloyd’s Asia, said: “I am delighted to have both Asta and Mosaic join the Lloyd’s Asia platform in Singapore. We have seen very strong top line and profit growth on the platform over the past two years and increasing the number of Lloyd’s syndicates further strengthens our underwriting capabilities and product offerings.”
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