Simon Global Insurance Group has launched a new managing general agent, SXG Underwriting Limited, marking a strategic expansion into specialty underwriting and strengthening its presence in the global insurance market.
Based in Hong Kong, the newly established entity trading as Specialty X Global has been approved as a coverholder by Lloyd’s of London. This authorisation enables SXG to underwrite specialty risks on behalf of Lloyd’s syndicates, offering brokers and clients direct access to Lloyd’s global capital, financial strength, and underwriting expertise.
The launch represents a notable milestone as the first MGA and Lloyd’s coverholder platform created by a Korean broking group, highlighting growing cross-border collaboration and the continued development of Asia’s specialty insurance landscape.
Initially, SXG will focus on healthcare liability lines, including medical malpractice and life sciences risks such as pharmaceutical product liability and clinical trial coverage. The MGA also plans to expand into general liability and other specialty segments, delivering tailored solutions for complex and evolving risk profiles across industries.
Simon Oh, CEO of Simon Global Insurance Group, described the launch as a key step in the firm’s long-term strategy to build specialist underwriting capabilities and deepen its engagement with the Lloyd’s market. He emphasised the strong growth potential of the platform and the group’s commitment to supporting its development as a leading specialty MGA in Asia.
Dong Woo Lim, CEO of SXG Underwriting Limited, added that the new platform is designed to combine Lloyd’s global strength with regional expertise, enabling faster, more flexible underwriting solutions. He highlighted the ambition to create a forward-looking underwriting platform that delivers innovation, disciplined risk selection, and sustainable profitability.
The move reflects broader momentum in the insurance sector, as firms increasingly leverage MGA structures and global partnerships to enhance distribution, expand product capabilities, and address complex risks in high-growth markets.
