Lloyd’s syndicates launch Asia terrorist consortium
by Gill Montia
A new insurance consortium, Xin, has been launched by Lloyd’s syndicates, specialising in helping businesses protect against the on-going threat of a terrorist attack in Asia.
Amlin, Markel, Canopius and Argenta have set up the Singapore-based consortium to provide terrorist insurance protection to businesses operating in South East Asia and the Asia Pacific region.
The consortium’s underwriters believe there is a need to raise awareness of the availability of such specialist cover in a region, which is considered significantly under-insured for terrorist attack
Amlin’s managing director of Singapore operations, Simon Clarke, comments: “Our vision is to be the number one specialist terrorism insurer in the Asia region and to provide competitive insurance solutions for what can be and often is a catastrophic and devastating loss event for any business.”
He adds: “Our mission will be to explain why this cover is needed and why it plays a vital part in risk mitigation for any business, large or small.”