Menu

Reinsurance News

Beazley gets regulatory nod for Labuan service company

21st April 2020 - Author: Charlie Wood

Specialist insurer Beazley has received authorisation by the Labuan financial regulator to open a new service company in the region.

Beazley logoBeazley Labuan Limited has been established to help build a presence in the Malaysian market and underwrite various classes of business on a reinsurance basis on behalf of Beazley’s Lloyd’s syndicates.

The classes include financial lines, cyber, political risk, terrorism and marine.

Beazley says the move extends its distribution capabilities in Asia Pacific and will complement the underwriting and distribution capabilities of Singapore based service company Beazley Pte Ltd.

“The insurance markets in Malaysia and Asean are growing to meet the changing level of demand and risk of commercial businesses,” said Nicholas Tey, Beazley’s international financial lines manager for Asia Pacific.

“We see strong opportunities to increase our presence here, supported by this new service company, Beazley Labuan Ltd which provides an additional, efficient distribution channel for Beazley to trade with local insurers and brokers in the markets.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
COVID-19 hits Tryg’s Q1 performance

Scandinavian insurer Tryg has seen its first quarter performance hit by the global coronavirus pandemic, estimating a negative impact of...

Close