Arig launches its branch operations in Singapore

MANAMA — Arab Insurance Group (Arig) — the largest reinsurance company in the Middle East & North Africa — announced the launch of a branch operation in Singapore.

By A Staff Reporter

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Published: Fri 9 Dec 2005, 11:39 AM

Last updated: Thu 2 Apr 2015, 4:17 PM

"Arig has always demonstrated a strong level of commitment to Asian insurance markets. We are convinced that as a consequence of the significant growth potential in these markets the level of international reinsurance support can and should be enhanced further. And after careful consideration of all options available we finally decided that Singapore, one of the most respected and well regulated markets in the Far East provides an ideal platform for our future activities" said Mr. Udo Krueger, chief executive officer, Arig.

The Singapore branch has been licensed by the Monetary Authority of Singapore as a composite reinsurer and will concentrate its activities on insurance markets in Singapore, Malaysia, Indonesia, Thailand, Brunei, Philippines, Hong Kong, Korea, Taiwan, Vietnam, Cambodia, Laos, Myanmar, Macau and China.

Arig will offer reinsurance capacity for all major lines of business, such as Property, Engineering, Marine and Liability. The branch is already fully operational, with an office in the prestigious Singapore Stock Exchange building.

Arig also announced the appointment of Lee Yew Wing as General Manager and Principal Officer of the Singapore branch. Lee, a Singapore national, comes with a background of over 25 years experience in the reinsurance industry.

Prior to joining Arig, Lee served as general manager and principal officer of the Singapore Branch of Fund American Re. Lee is an Economics Graduate from the University of Singapore and a Fellow of the Chartered Insurance Institute (FCII).

While commenting on the appointment, Krueger said: "Lee brings with him a wealth of experience in serving the domestic as well as the regional Asian markets. His competence and understanding of these markets and his excellent rapport with a number of clients will help Arig to successfully establish itself as a reinsurer of choice in Asia."

Lee is supported by a team of underwriting and administrative staff with several years of experience in the region.

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