Starr Insurance Expands its Presence in Malaysia
NEW YORK--(Business Wire / Korea Newswire) May 11, 2023 -- Starr Insurance Companies today announced that 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 organized under the laws of Singapore. Starr Labuan has secured a license from the Labuan Financial Services Authority for Labuan general insurance and reinsurance. 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.
“Malaysia is one of the fastest-growing economies in the region,” said Philip Finley, President, Asia Pacific Regional Manager for Starr. “This new license provides Starr with a significant new facility to serve the insurance and reinsurance needs of companies across Malaysia.”
Rawi Letchumanan will oversee Starr Labuan as its local Manager.
About Starr Insurance Companies
Starr Insurance Companies (or Starr) is a marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization 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 including aviation, marine, energy and excess casualty insurance. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, China, Hong Kong, Malta, Singapore, Switzerland and U.K. each have an A.M. Best rating of “A” (Excellent). Starr’s Lloyd’s syndicate has a Standard & Poor’s rating of “A+” (Strong).
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Starr Insurance Companies
Vice President, Marketing
This is a news release distributed by Korea Newswire on behalf of this company.