The new office will be in Singapore

International Lloyd’s (re)insurance broker RFIB has launched a Singapore operation, according to announcements today. The operation will act as RFIB’s Asia hub, fitting into the firm’s intention to develop in the region.

Richard Johnston, RFIB managing director of international operations, said that Asia represented a “key growth area” to the broker, and that Marine and other specialty reinsurance classes would be core to its proposition.

RFIB chief executive Dennis Mahoney said: “Our growth strategy is to expand our presence in those geographies where we can add value to clients. We do not want to be just another (re)insurance broker in a saturated market.”

He added: “We are committed to offering our services in specialist areas which increasingly demand expertise and market understanding. Our new Singapore business is a practical example of this philosophy. We have a clear and ambitious strategy for our new offering and I am certain that RFIB’s business will quickly differentiate itself in the Asian market.”