The Singapore branch of international specialty insurer
Ironshore has increased its capacity for political risk business lines by US$35 million, alongside the appointment of Sam Lim as underwriter for political risk and trade credit in Asia Pacific.
Previously at US$15 million, political risk capacity was increased was more than tripled, now reaching US$50 billion.
Meanwhile, Lim joins Ironshore Singapore from
AIG, where he was head of trade credit. He will report to Hui Yun Boo, managing director of Ironshore Asia Pacific.
“Insurance industry appetite in Asia for specialty lines products dedicated to uncertain, emerging risks is driving heightened market demand,” Boo commented on the recent developments. “We recognize the value of broadening our reach by increasing our capacity throughout the region, with Sam now on board to support Ironshore’s growth in this business lines portfolio.”
Ironshore political risk insurance offering provides structured and international policy protection for in-country or cross-border exposure to government actions and political risk events. Its trade credit insurance provides default risk mitigation for corporate and financial institutional clients.
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