Brit Limited (“Brit”), the global specialty insurer, is pleased to announce the opening of an office in Singapore. The new office will begin operations from 1 March 2016, with Brit having received approval to begin underwriting from both Lloyd’s and MAS (Monetary Authority of Singapore).
The office will be headed by Charlie Barrett, currently Class Underwriter for War and Terrorism, who has been with Brit since February 2011.
From Singapore, Charlie will initially write War and Terrorism and Political Risk. He will be joined by Hong Onn Ching to write Construction business.
Fairfax Financial Holdings Limited, Brit’s parent company, already has a significant presence in Asia, including through its subsidiary First Capital, the largest (re)insurer based in Singapore.
Matthew Wilson commented: “Local markets such as Singapore are becoming increasingly important as we see both capacity and insurance penetration continue to grow. By opening an office in Singapore we’ll be able to offer both on the ground expertise and local access to decision makers.
“Not only is Singapore an exciting hub in its own right, we also see opportunities arising from Fairfax’s significant network in the region and look forward to working closely with other businesses within the Group.”