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Britannia P&I Club has been granted a licence to underwrite business from its Singapore branch.
In a statement, the insurer announced that the Monetary Authority of Singapore (MAS) had given its approval for Britannia to underwrite marine insurance, effective January 25. This follows the granting of a similar licence by Hong Kong’s Insurance Authority (IA). As a result, the company can now underwrite business in two major Asia-Pacific maritime markets.
The Singapore branch will be managed by Tindall Riley (Britannia) Singapore, and is headed by marine insurance and shipping veteran John O’Flaherty as chief executive.
O’Flaherty will lead a team of seven colleagues, including: Derek Birch, a qualified lawyer with experience both in private practice and with other P&I clubs. He heads the local claims team, which includes Capt. Rajesh Raman, Capt. Nasir Subahrie, Sivakami Moorthy, and Victoria McFarlane, all of whom have legal, maritime and/or insurance backgrounds. Meanwhile, Capt. Ajit Karande is responsible for correspondent work and overseeing Britannia’s ASEAN correspondents.
The Singapore office will cater to Britannia’s members in ASEAN countries as well as those in India and Australasia. It will also assist with all members’ claims arising in the ASEAN region, in association with Britannia’s local port correspondents.
“The news that Britannia’s Singapore office has been granted a licence to underwrite business so soon after the Hong Kong office is welcome and, again, demonstrates the club’s commitment to Britannia’s Asian members, who account for nearly 50% of the club’s business,” said Andrew Cutler, CEO of Britannia and the managers.
Furthermore, Britannia has launched two Chinese language microsites to further support its business in Asia. The two sites, one in simplified and the other in traditional Chinese, have been launched following the firm’s Japanese website in 2018.
“In addition, our focus on Asia has been further enhanced with the launch of the two Chinese language microsites, which will greatly benefit our members in the region,” Cutler added. “The microsites will also support our regional hubs in Hong Kong, Japan and Singapore by reinforcing our strategy of providing members with a personalised service in their local area, backed by a global presence in the market.”
