BEAZLEY EXPANDS SINGAPORE OPERATIONS

Lloyd’s insurer Beazley is to expand its engineering and construction team into Singapore. It is to open a new office and has appointed Byran Lee Guan Leong and Wong Jyh Lih to write insurance and reinsurance business in Asian markets, excluding Japan, in the engineering and construction sectors. Beazley said on Friday that “given the nature of the Asian market, in which business tends to be placed almost entirely within the region, Singapore provides the perfect hub to source this type of business”. The new appointees will report to Peter Evans, head of engineering, in the London office. Beazley head of property Jonathan Gray said that “we believe that there is a significant growth potential in the engineering and construction line of business in Asia, and a presence in Singapore will be the perfect hub for sourcing business”. Beazley Group, manager of syndicates 2623 and 623 also has specialist insurance businesses in the UK, US, France and Hong Kong.