Asta, a third-party managing agent at Lloyd’s under the Davies Group, has announced its establishment of a service company in Singapore to strengthen its global presence. With the Pan-Asian market continuing to present extensive opportunities, this new service company will allow Asta to enable clients to easily establish a Lloyd’s operation directly in Asia.
Asta Solutions Asia is managed by chief executive officer Audrey Lee Ling Peng. For clients who wish to participate on the Lloyd’s Asia platform, Asta will offer three options: a syndicate, syndicate-in-a-box (SIAB), or captive syndicate solution. The managing agent will also be offering a services solution for existing Lloyd’s Asia platform participants.
In conjunction with the establishment of a new service company in the country, Asta also announced its support for Mosaic Insurance, which commenced underwriting operations through the Singapore platform this week.
The announcement of a new service company in Singapore is part of the firm’s broader strategy to develop the Davies Group presence in Asia and offer a range of services and solutions, including bringing its captive management and MGA launch and host capabilities to the region.
“Asia represents a key development area for Asta and Davies. Asta’s new operations in Singapore will be central to our continued development as the leading third-party managing agent. We are committed to expanding Asta’s offering to areas where we see an increase in demand,” said Simon Norton, Davies Group Insurance Services chief underwriting officer.
Davies Group Insurance Services CEO Steven Crabb said that the firm now has a clear and ambitious growth strategy for its business ever since the acquisition of Asta was finalized.
“I am certain that establishment of Asta Asia will support our development in the Asian market while being able to meet the needs of our clients who are looking to launch in the region,” he said.
“I am delighted to have both Asta and Mosaic join the Lloyd’s Asia platform in Singapore. We have seen very strong top line and profit growth on the platform over the past two years and increasing the number of Lloyd’s syndicates further strengthens our underwriting capabilities and product offerings,” said Mark Dyson, Lloyd’s Asia interim CEO and Singapore interim country manager.
Asta now lists five Lloyd’s SIABs, 10 full syndicates, four MGAs, and one SPA under its brand.
Lloyd’s Asia interim CEO Mark Dyson relieved Thomas Haddrill who moved back to London to join WTW as head of broking for Central and Eastern Europe, Middle East, and Africa.
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