The Fidelis Partnership (TFP), a global specialty insurance and reinsurance underwriting business, has outlined plans to establish a new Lloyd’s service company in Singapore, expanding its presence in the Asia-Pacific insurance market.
The proposed entity, The Fidelis Partnership APAC (TFP APAC), is scheduled to commence underwriting on 1 January 2027, pending regulatory approval.
The initiative is intended to support TFP’s expansion into markets across Asia Pacific where demand for insurance and reinsurance solutions is developing. The company said the Singapore operation would seek to establish lasting commercial relationships with regional brokers and cedents while broadening access to its underwriting capacity.
Bilal Zafar has been appointed to lead the proposed business as Chief Executive Officer, subject to the necessary approvals. He moves to TFP from Volante Global, where he held responsibility for reinsurance operations spanning Asia Pacific, the Middle East and Africa in his role as Managing Director of Volante Emerging Markets.
Zafar has also headed Volante Syndicate’s Singapore service company since 2024. His career in insurance and reinsurance spans almost two decades, during which he has worked in senior management and underwriting positions across several international markets, including London, Zurich and Singapore. His previous experience includes roles at Swiss Re, where he began his career, and London investment firm GGH, where he served as a director.
Joining Zafar in the new operation will be Song Liu, formerly Treaty Portfolio Director within Volante Global’s Singapore business. Liu has experience in the regional reinsurance sector, having previously worked for China Reinsurance Group Corporation. During his time with the organisation, he held several positions, ultimately becoming Deputy Chief Operating Officer of its Singapore division.
TFP stated that the team will concentrate on both proportional and non-proportional treaty reinsurance, covering property and engineering, marine and energy, casualty, and specialty risks. The business will access underwriting capacity from Fidelis Syndicates 3123 and 2126, operating through the Lloyd’s Asia platform.
The planned establishment of TFP APAC represents another element of the group’s High Growth Markets strategy. According to TFP, the approach is designed to identify opportunities in expanding economies where specialist underwriting expertise and additional reinsurance capacity may help address emerging risk requirements.
Charles Mathias, Deputy Chairman at The Fidelis Partnership, said: “TFP is delighted to be planning to launch TFP APAC in Singapore. Asia is a priority within our wider High Growth Markets strategy, which recognises the opportunity for TFP to address complex re/insurance gaps in markets that are growing exceptionally strongly.
“Leveraging decades of market experience and relationships across local, regional and global distribution partners, Bilal and his team are perfectly positioned to capture this opportunity, and I’m looking forward to collaborating closely to bring TFP’s proposition to new clients in the region.”
Zafar added: “We are hugely excited to be part of TFP’s highly differentiated capacity, infrastructure, and underwriting capabilities. Our broad suite of products, classes and structures will allow us to support partners holistically, provide bespoke solutions where our clients need them, and help the local re/insurance markets of high-growth economies become more sustainable and resilient.
“By building long-term relationships with brokers and cedents in these markets, we are pleased to be part of TFP’s wider strategic ambitions across high-growth markets and look forward to collaborating closely.”
