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Insight appointed as Lloyd’s Agent exclusively for Singapore
Thursday, 25 March 2004
Insight Press Release

A homegrown Singapore company of Loss Adjusters and Surveyors has been appointed the Lloyd's Agent in the Republic.  The appointment of Insight Marine Services Pte Ltd, a subsidiary of the Insight Group, is exclusive in that it is given to only one company in Singapore.

The Lloyd's appointment is significant as it further catapults Insight into the global business services arena.  Already Singapore's largest loss adjusting and surveying organization for marine and non-marine classes of business, the Insight Group is poised to play an increasing role in the global insurance and reinsurance markets.

"The appointment by the renowned institution Lloyd's is an endorsement of faith by a premier global organization reputed for its integrity, strength, service and quality. I am confident it will be an extremely beneficial win-win relationship. It is strategic to the growth of the Insight Group," said Nehemiah Neo Lian Sun, Managing Director of Insight.

Appointment as a Lloyd's Agent is a mark of recognition of the appointee's expertise and standing in the maritime community.

"Our leadership position in Singapore was attained in a short span of 11 years. The Lloyd's Agency will enable us to grow our business within the region and practically anywhere in the world where there is a need for loss adjusting and surveying services.  It is an excellent opportunity to leverage on the unique branding of Lloyd's, a world-class icon."

Insight's role will be largely marine-based as survey and claims settling agents on insurance policies issued by Lloyd's Underwriters as well as by any parties in the world who have come to rely on the expertise and integrity of a Lloyd's Agent.  

As the Lloyd's market is a world leader for a wide array of insurance products, Insight can expect to also receive assignments involving non-marine, aviation and other specialist insurance programmes.  

Insight's appointment is also recognition of Singapore as a key business hub, given the Republic's efforts in developing itself as an international maritime and aviation centre and an insurance, reinsurance and financial hub.

Lloyd's origins go back to 1688 in London but it was not until 1811 that it decided that a network of agencies should be established to safeguard the interests of its underwriters.