Lloyd's, a 328-year-old United Kingdom establishment, is a global insurance and reinsurance specialist. Lloyd's plans to expand in Malaysia and support the country's growth as an insurance and reinsurance centre. "Lloyd's currently serves the Malaysian market as a Tier-2 reinsurer through its nine Labuan service companies (via an offshore licence) and as a cross-border reinsurer, primarily from London and Singapore," Lloyd's said. It is working with the Malaysian authorities on an onshore Tier-1 reinsurance application licence in order to contribute specialist underwriting expertise in emerging and complex risks. Under the licence, Lloyd's will build on its marine, energy, construction, engineering and liability offering here, working in partnership with local brokers to deliver solutions for new government infrastructure projects.

Source: The Edge Markets September 19, 2016 10:30 UTC