Commercial broker Honan Insurance Group has announced the launch of Honan Re, a new unit that will offer facultative reinsurance solutions to the organisation’s insurance partners.
Based in Singapore, Honan Re will commence operations this week, led by Honan Asia’s Managing Director Eliza White.
Executive Chairman Damien Honan commented on the launch: “We’re very proud of the reinsurance offering as it deepens and broadens the group’s capabilities and further enhances Honan’s reputation as an industry leader.”
“The establishment of Honan Re has also been a personal goal of mine, to build a reinsurance team to support the wider Honan group since we commenced operations in Singapore in 2012,” Honan continued.
“In the current marketplace conditions, we believe it is the best time to launch this initiative and continue to expand Honan’s capabilities and the support we offer our insurer partners”.
Honan CEO Andrew Fluitsma further stated: “The addition of a reinsurance offering reflects Honan’s attitude of constantly pushing the envelope to develop and deliver leading edge solutions. It’s also a testament to the efforts of our incredible team and the success we’re building throughout the region.”
Singapore was selected as the base for Honan Re due to its reputation as the insurance hub of Asia Pacific and strategic geographical position that offers access to international markets in Asia, Australia, Europe and North America, Honan explained.
“The launch of Honan Re demonstrates our ability to innovate and offer clients coverage that meets their changing circumstances and challenges,” added White.
“We will quickly bring together experienced reinsurance minds and utilize latest technology and robust analytics to address the insurance needs of our partners.”
