LONDON, Nov. 10 /PRNewswire-FirstCall/ -- . Beazley Group plc (BEZ.L), is pleased to announce the expansion of its Engineering and Construction team into Singapore, with the opening of a new office and the appointment of Byran Lee Guan Leong and Wong Jyh Lih. Byran and Wong will be based in Singapore, writing Asian market, excluding Japan, Engineering and Construction insurance and reinsurance business for Beazley.
Beazley's move to establish a dedicated underwriting presence in the Region is driven by its desire to participate in the rapidly growing area of Engineering and Construction insurance and reinsurance. Given the nature of the Asian market, in which business tends to be placed almost entirely within the Region, Singapore provides the perfect hub to source this type of business.
Byran and Wong will service Beazley's clients throughout the Region, supplementing Beazley's market leading expertise. Each of them has over 8 years of market experience in the Region. Byran and Wong will both report to Peter Evans, Head of Engineering, in Beazley's London-based Engineering team.
Jonathan Gray, Head of Property Group at Beazley said:
"We believe that there is significant growth potential in the Engineering and Construction line of business in Asia, and a presence in Singapore will be the perfect hub for sourcing business. Our move into Singapore is a reflection of our commitment to employ dedicated underwriting expertise in the Region, providing a consistent Beazley product offering to our clients wherever they are based."
Peter Evans, Head of Engineering at Beazley said:
"We are thrilled that Byran and Wong have agreed to join our market leading Engineering and Construction team. Their combined experience in the Region will be invaluable in successfully growing Beazley's presence in Asia."
Note to Editors:
Beazley Group, plc (BEZ.L) is the parent company of global, specialist insurance businesses with operations in the UK, US, France, Singapore and Hong Kong. Beazley manages two Lloyd's syndicates (Syndicate 2623 and Syndicate 623) with aggregate underwriting capacity in 2006 of 830m pounds Sterling (US$1.5bn). Both syndicates are rated A by A.M. Best. In the US, Beazley's underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd's. Beazley Insurance Company is rated A- by A.M. Best.
Beazley is a market leader in many of its chosen lines including professional indemnity, commercial property, marine, reinsurance, and personal lines.
For more information please go to: http://www.beazley.com/
