Allied World Assurance Company Holdings has received approval from the Monetary Authority of Singapore (MAS) and Lloyd's Asia to register and operate a service company, Capita 2232 Services.
As part of the Lloyd’s Asia platform, the service company will underwrite exclusively on behalf of recently formed Syndicate 2232.
According to the Allied World, Syndicate 2232, via the service company, will offer a range of treaty products from Singapore, including property, casualty and specialty lines, to clients in the Asia Pacific, Middle East and Africa regions.
Syndicate 2232 will be managed by Capita Managing Agency, a subsidiary of The Capita Group, which is authorized by Lloyd’s and the FSA in the UK.
Capita 2232 Services is a wholly-owned subsidiary of Capita Managing Agency.
Lloyd’s Asia was established in Singapore in 1999 to give Lloyd’s an underwriting base in Asia, and currently enables approximately 18 syndicates to write local and offshore business from Singapore.