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Great American Insurance Group announced its lead insurer, Great American Insurance Company, has received preliminary approval from the Monetary Authority of Singapore to establish a branch operation. It plans to begin underwriting risks once all pre-conditions for licensing have been completed, estimated to be around June 2015.

With its entry into the Singapore insurance market, Great American Insurance Group expands its international footprint into Southeast Asia. This opportunity allows Great American to actively participate in Singapore’s efforts to establish itself as a global insurance hub, Great American said in a statement.

Upon opening of its Singapore branch, Great American will focus on specialty lines, both onshore and offshore. The Singapore branch will be led by Chee Keng Koon, a seasoned insurance professional in the Singapore and Asian markets.

Don Larson, president and chief operating officer of Great American Insurance Company, said: “We are confident that Mr. Chee’s deep specialty lines knowledge, supported by the recruitment of experienced local underwriters and combined with a strong finance and operations team led by Ms. Vanessa Teo, will enable us to deliver property and casualty insurance solutions that meet the unique needs of these markets.”

Source: Great American Insurance Group