Miller Insurance Services Ltd launches Singapore-based broking subsidiary
Press information
31 March 2008
Miller Insurance Services (Singapore) Pte Limited has been granted licences by the Monetary Authority of Singapore to operate as a general reinsurance and direct insurance broker. The last 18 months have seen very significant developments in Singapore; rapid growth in the number of underwriters present in the market, growing autonomy of Singapore-based international underwriters, a wealth of knowledge among domestic players and the growth of Lloyd's operations from 3 to 13 syndicates since 2005, and new syndicates starting in 2008.
Paul Davies, CEO of Miller Insurance Services (Singapore) Pte Limited says; "Singapore is a key developing market and we expect to see many Asian domiciled risks, including some of those currently placed in London, gravitate to Singapore in the future. We want to further develop our regional portfolio of specialist line business by establishing a regional broking hub for our international network of clients and offices to access the Singapore market and support its development."
Julian Taylor, Board Director adds; "We feel that by being fully represented in Singapore we will be able to supply the level of service that our clients expect by having the intimate day to day knowledge of activity in the market and the personal relationships with underwriters which are so important when delivering competitive solutions for our clients."
Miller is not new to Asia - it has had a long standing commitment to the region and has been present since the 1970s. The Singapore office will build on existing strong relationships with insurers in Singapore and facilitate the development of other relationships for the benefit of Miller's clients.
Ends
Notes to Editors:
About Miller
Miller Insurance Services (Singapore) Pte Limited is a wholly owned subsidiary of Miller Insurance Services Limited, a leading independent specialist insurance and reinsurance broker operating in the international markets and at Lloyd's. Miller Insurance Services Limited is a wholly owned subsidiary of Miller Insurance Investments Limited and the sole UK insurance intermediary within the group of Miller companies, which employs approximately 450 people. The company trades under the brand name 'Miller' and handles premiums approaching US$2billion p.a. and its Lloyd's broking origins can be traced back to 1902. Today, Miller is the only privately owned Lloyd's broker of its size in the UK and its truly independent status gives commercial freedom when advising clients.
For more information, please visit www.miller-insurance.com
For more information please contact:
Hina Gandhi
Tel: +44 (0)20 7031 2996 Email: hina.gandhi@miller-insurance.com
Or
Joanna Camp
Tel: +44 (0)20 7031 2656 Email: joanna.camp@miller-insurance.com