KUALA LUMPUR, May 10 (Bernama) -- Starr Insurance Companies (Starr) announced it has expanded its presence in Malaysia by establishing a Labuan Branch (Starr Labuan) of Starr International Insurance (Singapore) Pte Ltd, a non-life insurance company organised under the laws of Singapore.
Starr Labuan has secured a licence from the Labuan Financial Services Authority for Labuan general insurance and reinsurance, with Rawi Letchumanan to oversee Starr Labuan as its local Manager.
“Malaysia is one of the fastest-growing economies in the region. This new licence provides Starr with a significant new facility to serve the insurance and reinsurance needs of companies across Malaysia,” said Starr President, Asia Pacific Regional Manager, Philip Finley.
According to a statement, new and renewal business previously produced by Starr Underwriting Agents (Labuan) Limited will be transitioned to Starr Labuan.
The establishment of Starr Labuan demonstrates Starr’s commitment to the broader Asia Pacific region and provides Starr with a platform to expand the scope of its (re)insurance product offerings for policyholders and cedants in Malaysia.
Starr is a leading insurance and investment organisation with a presence on six continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products as well as a range of specialty coverages.
-- BERNAMA
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