London-based underwriter Beazley Group plc said it has opened a new office in Singapore, dedicated to writing engineering and construction risks in Asia.
The office will be headed by Byran Lee Guan Leong and Wong Jyh Lih.
Beazley said the office will write business for all of Asia except Japan.
According to the company, it made the move as part of a desire to participate in the rapidly growing area of engineering and construction insurance and reinsurance.
“Given the nature of the Asian market, in which business tends to be placed almost entirely within the region, Singapore provides the perfect hub to source this type of business,” the carrier said in a statement.
Beazley has underwriting operations in the United Kingdom, United States, France, Hong Kong and now Singapore. It also operates two Lloyd's syndicates.
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