Liberty Mutual Re (LM Re), part of Liberty Mutual Insurance Group, is the latest reinsurer to enter Singapore by setting up a new office and appointing Ms Annie Leong as the regional underwriting manager for Asia Pacific with immediate effect.
The reinsurer will be operating with a full treaty reinsurance license as part of the Liberty Specialty Markets (LSM) Asia Pacific office in Singapore and will have local underwriting authority.
In an official announcement, Liberty Mutual Re president Dieter Winkel said, “As LM Re continues to build out its global underwriting platform, we have taken the decision to establish a formal presence in Singapore to better serve and support our broker partners and clients across Asia Pacific and focus on developing emerging market opportunities across the region.”
This is the right time to establish LM Re locally in the region, he said.
The reinsurer has participated in the Singapore market for several years as a treaty reinsurer of property, casualty and specialty lines. The portfolio was being driven by underwriting teams in its existing offices and platforms across the UK and Europe previously.
LM RE offers treaty reinsurance solutions across major UK, European, Middle East, US and other international locations. It provides brokers and cedants with property, casualty and specialty reinsurance solutions through the company as well as Lloyd’s markets.
In her new role, Ms Leong will focus on building the franchise locally and be central to Liberty’s Asia Pacific portfolio as a whole. She will report locally to senior vice president and Asia leader Matthew Jackson as well as London-based LSM executive underwriting officer Peter Smith.
Prior to this, she was at Aspen Re where she was a senior underwriter focusing on specialty lines for the Asia Pacific region and before that, she worked for Kiln in Singapore.