Insurance Agency Singapore | Commercial Insurance and Personal Insurance

  • Products
    • Commercial Insurance
      • Work Injury Compensation
      • Public Liability
      • Foreign Worker Medical
      • Foreign Worker Bond
      • Fire/Burglary Insurance
    • Personal Insurance
      • Motor Insurance
      • Travel Insurance
      • Home Insurance
      • Personal Accident
      • Domestic Maid Insurance
  • Support
  • Contact Us
  • Blog
  • About Us

Lloyd’s Supports Natural Catastrophe Resilience Plan Across Asia

18 August 2015 By Digital Curator Leave a Comment

Lloyd’s Supports Natural Catastrophe Resilience Plan Across Asia-credence-agency

Image via Flickr user Equipe Integrada

As he prepared to sign a Statement of Intent (SOI) between the British Government, the Monetary Authority of Singapore and Lloyd’s in Singapore, UK Prime Minister David Cameron stressed that insurance is essential to “safeguard economic success.”

A bulletin from Lloyd’s explained that the “signatories have committed to a series of initiatives to aid the understanding of risk exposures in Asia and support and nurture insurance markets across the region.”

Lloyd’s also pointed out that “Asia is the world’s most natural catastrophe-prone region. However, on average, less than 5 percent of likely economic losses are insured when disaster strikes. This means that one major catastrophe could wipe out decades of economic progress.

“The three parties committed to working together to share knowledge and expertise with partners across the region. They hope this will help to identify threats facing regional economies and support the development of new risk transfer solutions. Other firms in the insurance industry across Asia are now invited to join the commitment and sign the SOI.”

Lloyd’s presence in Singapore dates to 2000 and considerable growth has been achieved since it established that presence. It now employs 400 staff and has achieved “premium growth of 120 percent over the last five years.”

See Full Story on insurancejournal.com

Share this:

  • Facebook
  • Twitter
  • LinkedIn

Filed Under: Industry Tagged With: catastrophe resilience plan, natural catastrophe reselience plan, resilience plan

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Categories

  • Domestic Maids
  • Golf
  • Happenings
  • Health
  • Homepage
  • Industry
  • Interesting Stuff
  • Products
  • Tips
  • Uncategorized

Contact Us

  • 1 Soon Lee Street #02-43, Pioneer Center, Singapore 627605
  • Tel: 68978226
  • Fax 68978086
  • Business Hours:
  • Mon – Fri: 8am – 6pm

Our Location

At the west side of Singapore, our office sits on the second floor of the building.

1 Soon Lee Street
#02-43, Pioneer Center
Singapore 627605

Our Products

  • Fire/Burglary Insurance
  • Foreign Worker Bond
  • Foreign Worker Medical
  • Public Liability
  • Work Injury Compensation
  • Domestic Maid Insurance
  • Home Insurance
  • Motor Insurance
  • Personal Accident
  • Travel Insurance

Find Out More

We would love to hear your insurance needs. Tell us all about it by filling up our contact form.

If not, give us a call at +65 6897 8226
or email us at enquiry@credence.agency

Copyright © 2023 | Credence Agency