Starr Insurance Companies Expands in Thailand
Summary
“Thailand is an important, fast-growing insurance market — one of the cornerstones of the Southeast Asia economy,” said Maurice R. Greenberg, Starr’s Chairman & CEO. “Asia is both commercially and culturally important to Starr, as we trace our roots to an American-owned company founded in Shanghai more than 100 years ago. We believe Starr is the ideal home for FPG Thailand to build scale, and expand capabilities and distribution, whilst bringing innovation to the market.” According to a recent report by rating agency AM Best, in 2021 Thailand’s non-life insurance market was estimated to be THB 253 billion (USD $8.3 billion) in terms of direct premium written. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, China, Hong Kong, Singapore, U.K., Switzerland, and Malta each have an A.M. Best rating of “A” (Excellent). Huntington and its associated companies are an integrated strategic advisory/start-up capital and private equity group focused on (re)insurance, based in Singapore and Turkey.