The move expands the company’s footprint in Asia and positions Lloyd’s Syndicate 1221 to capitalise on the significant opportunities within one of the world’s largest commercial insurance markets.
Zhenghong Pan, a seasoned industry veteran, has been appointed to lead the Singapore service company. Pan brings extensive experience from AXA XL, where he successfully led a team of underwriters and managed a substantial financial lines portfolio.
He said: It’s an honour to lead The Hartford Singapore and further expand the company’s international reach. We aim to create an extraordinary experience for our brokers and customers, allowing them access to invaluable services such as our economic and geopolitical research team.”
Initially, the Singapore service company will focus on underwriting Financial Lines and Credit & Political Risks coverage. Over time, The Hartford plans to expand its product offerings to include a wider range of specialty insurance solutions, catering to the diverse needs of businesses operating in the region.
Lloyd’s Syndicate 1221, a key component of The Hartford’s Global Specialty business, provides a comprehensive suite of specialty insurance coverages across various industries worldwide, including Marine & Energy, Casualty, and Credit & Political Risks.
The expansion underscores The Hartford’s commitment to serving the evolving needs of its clients on a global scale and solidifies its position as a leading provider of specialty insurance solutions.
Carl Bach, head of International and CEO of Hartford Underwriting Agency Limited, the Lloyd’s managing agency for Syndicate 1221, also commented, saying: “Our new service company in Singapore broadens The Hartford’s reach across the Asia market and enhances our support to customers and brokers conducting business around the globe. Our customers and brokers in Asia will have access to our growing team of specialised underwriters and claims personnel who possess a deep technical knowledge of the unique and complex risks placed in Singapore. I’m thrilled that Zhenghong will be leading the service company, bringing his deep understanding of the Asia market and underwriting excellence within the Financial Lines sector.”
Emma Loynes, chief executive officer of Lloyd’s Asia, said: “We’re delighted to play our part in what is both an incredibly important milestone for The Hartford and the Lloyd’s Asia platform.”
She added: “Expansion of underwriting capabilities further bolster the capacity, expertise and talent in Singapore, improving market access and ultimately providing a better service to our customers.”
