Great American Insurance Group announced that the Singapore Branch of its flagship insurer, Great American Insurance Company, today launched its first office in Singapore and Asia after receiving approval from the Monetary Authority of Singapore earlier this year.
This move signifies the Company’s long term commitment to Singapore and the region, to build and develop Asia’s insurance industry.
The Company’s offices are located in the heart of the Central Business District at Centennial Tower.
Particular focus areas, both onshore and offshore, include marine, general liability and professional and executive liability.
Entry into the Singapore market has enabled the Company to expand its international footprint in Southeast Asia.
Great American Insurance Company provides a suite of solutions to support small to medium-sized companies in Singapore, giving them the confidence to grow and innovate.
The Company’s extensive distribution channels, with staff and agents in key regional markets, extends its ability to maximize local market opportunities flexibly and efficiently.
It expects to hire approximately 100 employees locally to support its operations over the next five years.
Great American’s Singapore branch is led by Mr. Chee Keng Koon, a seasoned insurance professional in the Singapore and Asian markets.
Mr. Chee brings more than 30 years of deep business experience and knowledge in the Singapore and Asian general and marine insurance markets.
He is well-known across the Asian region with ship owners, maritime industry experts, insurance agents, insurance brokers and other insurance industry participants.
“Market opportunities are abundant in Asia, particularly in the specialty classes such as marine and property, and Singapore’s position as a mature, stable and substantial insurance hub makes it a natural entry point into the region.
Our team of specialists across distribution, underwriting, claims, technical support as well as finance and operations is highly-qualified and experienced.
We are confident in our ability to provide professional services and superior solutions to support fast-growing Singaporean companies in their business operations,” said Mr. Chee Keng Koon, Chief Executive Officer of Great American’s Singapore Branch.
About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company.
Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets.
Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for over 100 years (most recent rating evaluation of “A+” (Superior) as of March 20, 2015).
The members of the Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.