Atrium Insurance closes down underwriting business for Singapore platform

Atrium Syndicate 609, a specialist underwriter, has closed down its Singapore platform, which was established in 2009.

Atrium is currently negotiating with Lloyd’s in Singapore and London and with the Monetary Authority of Singapore in order to make sure that the business is maintained to the highest standards for which Atrium is renowned.

Its policies remain the same and Atrium is well capitalised to meet all claims. The most urgent priority is to its personnel, clients and brokers and to make sure all decisions made are in their best interest.

“We are incredibly proud of the achievements of our Singapore office over the last eight years. We have built an operation that has been profitable and operated with utmost professionalism,” said Richard Harries, chief executive officer of Atrium.

“However, we cannot see the operation growing to the size that we had previously envisaged, given the specialty lines that Atrium Singapore concentrates in, hence our decision to regrettably cease underwriting from the platform.

“This decision will not impact existing policies, which we will continue to service to the high standards that Atrium is known for around the world. Atrium remains committed to the Asian region, this business will now be conducted through its London office.”