Insurer establishes underwriting operation in Singapore.
Further adding to the group’s presence in Asia, QBE has established an underwriting operation in Singapore under the Lloyd’s Asia license that will initially focus on energy business and related marine and liability risks.
Under the move, QBE’s Marine and Energy division, which primarily trades via the syndicate 1036 franchise, is relocating London-based underwriter, Jake Gibbs to Singapore. In developing the account, Gibbs will work closely with QBE’s existing operations in Asia, which include ventures in Hong Kong, Macau, China, Malaysia, Indonesia, Thailand, The Philippines and Vietnam as well as Singapore.
Colin O’Farrell, managing director for Marine and Energy syndicate 1036 QBE, said: "QBE believes instant access to empowered decision makers is critical for brokers. Working with QBE’s established distribution network in Asia, our new marine and energy operation in Singapore will give local brokers access to underwriters who are fully authorised to make significant decisions."
Present in Singapore since 1889, QBE has in recent years been actively building its operations in Asia via a mixture of key acquisitions, local joint ventures and organic growth. Reflecting the group’s focus as a specialist in commercial insurance, QBE’s Asian operations underwrite a broad range of business ranging from complex risks in the areas of liability, commercial property, marine cargo, marine hull, health, professional liability and trade credit to solutions for small businesses and homeowners.
