Galaxy Insurance Consultants (Singapore) has announced it has officially been granted a Reinsurance Broking Licence by the Monetary Authority of Singapore (MAS).
This regulatory approval allows the form to bridge the gap between regional clients and the global reinsurance market.
“This significant achievement strengthens our position as a trusted insurance partner in Singapore and the wider Asia-Pacific region. With the new licence, we can now deliver even more comprehensive broking services — connecting clients to global reinsurance markets, securing optimal terms, and providing expert solutions for complex and large-scale risks,” a Galaxy spokesperson stated.
Highlighting: “This is more than just a licence — it’s a promise to our clients that we will keep raising the bar in risk management and reinsurance excellence.”
Galaxy was established in 1982 as Galaxy Underwriting Agency Pte Ltd, to act as authorised underwriting agents for insurance companies in Singapore.
The company grew over the decades and developed `Special Group Schemes for member companies and organisations affiliated with the National Council of Social Service (NCSS), Singapore Indian Chamber of Commerce (SICCI) and other affinity groups.
In 2005, Galaxy obtained a licence to operate as Direct Insurance Brokers with Exempt Financial Advisors’ status.
This transition sparked a period of international expansion, leading to specialised distribution agreements across Hong Kong, Malaysia, The Middle East, and Australia.
The acquisition of the Reinsurance Licence is the latest in a series of strategic moves to bolster Galaxy’s global footprint.
In 2017, Galaxy joined the Steadfast Group, considered the largest general insurance broker network in Australia and New Zealand.
Galaxy has recently joined the Asinta Partnership as well, the global strategic network of consultancies spanning 56 countries.
Under the leadership of Founder & Chairman Uttam Kripalani and CEO Sunil Chugani, Galaxy currently manages a portfolio of over 1,000 corporate clients and 300+ individual clients.
