Chaucer to write marine on Lloyd’s Singapore platform
China-owned re-insurer hires industry veteran to head offering
Ivan Sit appointed class underwriter
CHAUCER, the Lloyd’s re-insurer owned by China Re, is to launch an Asia-Pacific marine offering via the Lloyd’s Singapore platform.
The operation will be headed by industry veteran Ivan Sit as class underwriter, marine, reporting to Chaucer Singapore CEO Margaret To and Simon Schnorr, the group’s head of marine and energy.
Sit has spent the past three years as head of marine at China Taiping Insurance (Singapore). Prior to that, he was a senior underwriter with Asia Capital Re.
He has also worked for the Shipowners’ Club, Sompo Insurance Singapore, Malaysian Reinsurance, Tahan Insurance Malaysia and HSBC.
Schnorr said that Chaucer regarded marine as a core line of business and that Sit’s regional expertise and established relationships with clients, brokers and carriers across the region would be invaluable.
The Lloyd’s Singapore platform is a regional insurance market that offers specialist insurance and reinsurance in Asia-Pacific, in a country that is the largest underwriting centre outside of London.
It handles 47 classes of business, including marine, cargo, energy property, trade credit, and political risk and terrorism insurance.
Brokers do not need to be a Lloyd’s registered to transact with Lloyd’s Singapore.
