SART Specialty Limited (SART Specialty), which is part of one of Hong Kong’s largest Managing General Agents (MGA), SART Group, has received all necessary approval to become a Lloyd’s of London Coverholder, supporting its expansion plans.
SART Specialty will underwrite specialist marine business lines, including marine hull, marine cargo, ports and terminals liabilities, and other marine liabilities across the Asia-Pacific, according to a recent statement.
Jude Yeung, who joined SART roughly five years ago as a marine underwriter, has been selected to lead the MGA.
Yeung, Marine Underwriting Manager, commented; “I am pleased to be leading SART Specialty Limited and we expect to be announcing an expansion of our range of products shortly with the support of our A-rated capacity providers.”
Commenting on Yeung’s appointment, SART Group Chief Executive Officer (CEO), Cheng Siong Gan, said; “Mr Yeung has consistently demonstrated excellent underwriting skills, leadership and passion. He has contributed significantly to the development and expansion of the Marine portfolio in a sustainable and profitable manner. In his new role, he will have overall responsibility for underwriting and management of the company.”
SART Specialty forms part of Hong Kong-based MGA SART Group, which was established in 2008 and is a member company of London’s Aquila Underwriting. SART Group now has three Lloyd’s of London Coverholders in its portfolio, which the firm says supports its plans for further growth.
Siong Gan, continued; “We are an established risk and reinsurance underwriting specialist, having an extensive network of business partners to which we offer a truly responsive and customised service focused on the Casualty, Engineering, Personal Accident and Marine classes throughout the Asia Pacific region.”
Managing Director of Aquila Underwriting, Simon Curtis, added; “The SART Group continues to develop; its competitive position along with its excellent service is a credit to the hard work of the local management team. The approval of SART Specialty as a Lloyd’s Coverholder is an important development in the next phase of our growth.”
