Reinsurance News

Howden buys Singapore-based AEGIS

12th May 2022 - Author: Pete Carvill

Howden has acquired the business and assets of Singapore-based insurance agency AEGIS.

howden-group-logoThe firm said in a statement that the acquisition underlined its commitment to the Asian market.

Goh Chye Huat, CEO of Howden Asia, said: “The acquisition of AEGIS reflects our broader strategy of empowering local teams to partner with culturally aligned companies with a shared entrepreneurial culture, and is a further step in our strategy to enhance our operational capabilities and client offering in Singapore.”

He added: “Evan Chng and Richard Tay have built a highly respected business that is a market leader in its chosen segments, and its commercial portfolio will help us diversify our business, expands our breadth and depth of specialism in Asia, and makes us the leading broker in the private education insurance segment in Singapore.”

Established in 2003, AEGIS offers tailor-made retail insurance solutions, specialising in professional indemnity, professional liability, pilot loss of license protection, and bonds and financial guarantee schemes. It enjoys strong relationships with many private education institutions in Singapore, providing them with fee protection and medical insurance cover. It was the first intermediary to offer loss of license insurance for pilots working for major airline groups in Asia Pacific and is now the only intermediary offering this product in Singapore.

Evan Chng, co-founder of AEGIS, said: “Joining Howden enables our clients to benefit from the scale of Howden’s international specialty offering. As an employee-owned company with a People First culture that shares our commitment to client centricity and innovation, our people will be empowered to deliver ever more advanced risk solutions to clients as part of Howden. We’re looking forward to growing our business with Howden in the future.”

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