Correction: Starr Companies Granted Approval to Operate in Singapore [Health & Beauty Close – Up]

Note: This article corrects a previous incorrect one.

The Starr Companies said that it has received a direct general license from the Monetary Authority of Singapore (MAS) to operate as a direct insurer in the Republic.

In a release, the Company said that the insurance license was specifically granted to Starr International Insurance (Singapore) Pte. Ltd., a wholly owned subsidiary of Starr Insurance & Reinsurance Limited. Starr's insurance offerings to the market include property, casualty, marine, aviation, financial lines and political risk insurance solutions.

This new regional hub continues to expand Starr's footprint in the Asia-Pacific region.

"We are pleased that the MAS has granted a full license and we are confident about the opportunities in Singapore," says Ed Navarro, Head of International Insurance Operations for Starr Companies.

In addition, Starr Companies has announced the hiring of Chan Tat Yoong as the Principal Officer of the Singapore operations. Tat Yoong is a well-regarded insurance industry executive with over 20 years' experience. Prior to his insurance career, Tat Yoong served in the Singapore Ministry of Defense.

Navarro said, "Tat Yoong's experience running branches for multi- national insurance companies as well as his excellent relationships will serve us well as we expand our operation."

Starr Companies is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment management business of C.V. Starr & Co., Inc.

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