As we “predicted” in our earlier blog, the ongoing consolidation would give rise to further changes and create opportunities for new leaders to emerge as well as new entrants to the Asian market continuing to focus on Singapore as their base.

At the Lloyd’s new office opening party in Singapore recently, there were over 300 underwriters and brokers, many of which are moving or have just moved to either new capacity or newly created positions.  Below is a brief overview of some of the changes:

Aspen Syndicate opening in Singapore with Paul Hackett having moved from XL Catlin to lead their marine underwriting

Coastal Marine bolstering their team with Stephen Preston moving from XL Catlin

Argo Syndicate have taken on David Lim (ex RSA/AWAC Singapore) to head their marine operation after the departure of Rama Chandran to QBE International to join his former colleagues from Asia Capital Re

Great American (owners of Marketform Syndicate in London) are writing business headed by KK Chee with his team from QBE having moved across earlier this year

Antares Syndicate is set to open in Singapore shortly writing marine

Berkshire Hathaway continues to grow their team with the move of Tim Collier to head up their Asian claims operations – certainly more people to join there given the office space already taken!

Mapfre Re have gained their licence in Singapore and will be writing cargo

The Standard Syndicate is fully up and running now with Wei Wei Tan underwriting hull and cargo in Singapore

Philip Webster has left Swiss Re Corporate Services after heading up their regional cargo team

Tim Cooke is joining AWAC Hong Kong in December to head up their regional marine team whilst Mark Watts has transferred down to Singapore

Tony Betteridge has joined Watkins Syndicate from Liberty to write Project Cargo

All the additional capacity in the Singapore market has created substantial opportunities for buyers, at the same time as figures show the London market hull premium has reduced to 21% of world fleet premium.

Please contact us for more information on Asian market capacity.