MSIG Singapore and MSIG Hong Kong to advance their Financial Lines and Cyber strategy in Asia independent of DUAL Asia
PUBLISHED ONMarch 30, 2022 3:00 AM
SINGAPORE - Media OutReach - 30 March 2022 - MSIG Insurance ("MSIG") announces today that its managing general agent partnership with DUAL Asia ("DUAL") will end on 17 June 2022. Following that, MSIG will press ahead with its expansion strategy for its Financial Lines business through its multi-distribution network.
In pursuing its expansion strategy, MSIG will be drawing upon its global financial capacity to underwrite Financial Lines risks and with future products in development, it aims to deliver solutions that will better address the evolving needs of its customers.
MSIG has recently appointed Andrew Taylor as Senior Vice President and Head of Financial Lines for Singapore and Hong Kong. Andrew will be responsible for accelerating the profitable growth and development of financial lines for MSIG within the region including the growth markets in Southeast Asia.
Mack Eng, CEO of MSIG Singapore and Philip Kent, CEO of MSIG Hong Kong issued a joint statement commenting on the change: "We are excited to have Andrew on board to lead the teams in developing bespoke Financial Lines solutions to meet our clients' evolving needs in this space. The conclusion of our partnership with DUAL allows us to develop a new profitable growth strategy, capitalising on the strengths of MSIG in the region. With Andrew's leadership and experience in Financial Lines, we will further strengthen our product offerings and servicing capability to ensure we remain the insurer of choice for our intermediaries and clients for Financial Lines insurance as we focus into the future."
DUAL has been MSIG's managing general agent since 2009 and provided Financial Lines solutions for MSIG's clients under a delegated authority in Singapore and Hong Kong.
In pursuing its expansion strategy, MSIG will be drawing upon its global financial capacity to underwrite Financial Lines risks and with future products in development, it aims to deliver solutions that will better address the evolving needs of its customers.
MSIG has recently appointed Andrew Taylor as Senior Vice President and Head of Financial Lines for Singapore and Hong Kong. Andrew will be responsible for accelerating the profitable growth and development of financial lines for MSIG within the region including the growth markets in Southeast Asia.
Mack Eng, CEO of MSIG Singapore and Philip Kent, CEO of MSIG Hong Kong issued a joint statement commenting on the change: "We are excited to have Andrew on board to lead the teams in developing bespoke Financial Lines solutions to meet our clients' evolving needs in this space. The conclusion of our partnership with DUAL allows us to develop a new profitable growth strategy, capitalising on the strengths of MSIG in the region. With Andrew's leadership and experience in Financial Lines, we will further strengthen our product offerings and servicing capability to ensure we remain the insurer of choice for our intermediaries and clients for Financial Lines insurance as we focus into the future."
DUAL has been MSIG's managing general agent since 2009 and provided Financial Lines solutions for MSIG's clients under a delegated authority in Singapore and Hong Kong.
About Andrew Taylor, Senior Vice President and Head of Financial Lines, MSIG Singapore and MSIG Hong Kong
Taylor is well recognised as a thought leader in the Asia Pacific Cyber Insurance space, having over 20 years of experience in the general insurance industry. With a keen acumen for the financial lines segment, Andrew is a veteran, specialising in Cyber Insurance, Professional Indemnity and Technology E&O classes, with international experience in London, Australia and across Asia.
About MSIG
MSIG is a wholly owned subsidiary of Mitsui Sumitomo Insurance Co Ltd and a member of the MS&AD Insurance Group, Asia's leading general insurance brand with presence in 50 countries and regions globally. The Group is amongst the world's top insurance groups based on gross revenue and one of Japan's leading insurer with A+ Stable credit rating. With over 40,000 employees world-wide, MSIG is represented in all ASEAN markets as well as in Australia, New Zealand, Hong Kong, China, Korea, India and Taiwan.
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