Starr Insurance Companies Expands in Thailand
17.5.2022 23:33:00 EEST | Business Wire | Press release
Starr Insurance Companies (Starr) announced an agreement with FPG Insurance Holdings Limited (HK) (FPG) and local Thai shareholders to purchase FPG Insurance Public Company Limited (FPG Thailand), a Thai non-life insurance company, together with local Thai parties.
Starr’s investment will be held by its Bermuda insurance company, Starr Insurance & Reinsurance Limited. The transaction is expected to close in the second quarter of 2022, subject to certain customary closing conditions, including any necessary regulatory approvals.
“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 look forward to serving the needs of local Thai companies and consumers through this new insurance capability.”
David Zuellig, FPG regional chairman, said, “This transaction reflects the standing of our franchises and is the product of the hard work, persistence, and determination of the FPG Thailand team despite challenging market conditions. The team is excited and ready to work with Starr in bringing the company to the next level.”
Starr expects to strengthen local product offerings with tailored commercial insurance and Accident & Health (A&H) products and plans to further maximize its growth by recruiting and developing local Thai insurance talent. Previously, Starr supported the Thai insurance market primarily through its provision of reinsurance products, including Technical Risks, Casualty, Marine, and A&H products.
Gerard Pennefather from Huntington, strategic advisors to FPG, said, “This is a fantastic outcome for both Starr and FPG. 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.
The operation’s headquarters are expected to remain in Bangkok.
About Starr Insurance Companies
Starr Insurance Companies (or Starr) is a marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on six continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance. 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). Starr’s Lloyd’s syndicate has a Standard & Poor’s rating of “A+” (Strong).
About FPG Insurance Group
Established for over half a century, FPG Insurance Group is an ASEAN based non-life insurance group.
About Huntington
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.
Visit us at www.starrcompanies.com or follow us LinkedIn and Twitter.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220517006195/en/
Contact information
Charlie Armstrong
Vice President, Marketing
charlie.armstrong@starrcompanies.com, 646.758.8308
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hytera Introduces PNC660 450MHz: New Device Certified for Power and Energy Mission-Critical Networks26.3.2026 11:00:00 EET | Press release
Hytera Communications, a leading global provider of critical communications technologies and solutions, unveiled the PNC660 450MHz MCX Smart Device – an advanced mission-critical terminal for private 450MHz LTE and 5G networks at MWC Barcelona. Combining broadband voice, video, and data services with multi-layer security, the PNC660 450MHz enables reliable communications across wide operational areas while supporting evolving mission-critical broadband needs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260325346069/en/ Hytera PNC660 450MHz MCX Smart Device for mission-critical 450 MHz networks. The device has also been whitelisted by 450connect, validating its compatibility with dedicated 450MHz broadband networks and readiness for commercial deployment for power, energy providers, and other critical infrastructure. Wide-Area Coverage with Dedicated 450MHz Networks The 450MHz spectrum offers excellent propagation and buil
Infobip Supports Thousands of Startups and Scaleups Through Startup Tribe Programme26.3.2026 11:00:00 EET | Press release
Global AI-first cloud communications platform Infobip, which is celebrating its 20th anniversary this year, has supported thousands of startups and scaleups from over 120 countries in the first five years of its Startup Tribe Programme. Infobip launched its Startup Tribe Programme in May 2021 to help mission-driven startups and scaleups to build and manage their customer communications and engagement strategy and grow their business. It does this by providing access up to $60,000 in credits for Infobip’s services and its global network of advisors, investors, and accelerators. In the first five year, Infobip has provided millions in the value of products and services to its programme members. By eliminating the need to build a global communications infrastructure from the ground up, Infobip’s programme enables startups and scaleups to focus on what really matters: developing their product and scaling their business. Startup Tribe member Ilija Milovic, Co-Founder & CTO at cloud property
LTM Positioned as a Leader in ISG’s Provider Lens™ Evaluation for Oracle Cloud and Technology Ecosystem 202526.3.2026 10:58:00 EET | Press release
LTM, the Business Creativity partner to the world’s largest enterprises, has been recognized as a Leader in multiple quadrants in the ISG Provider Lens™ Oracle Cloud and Technology Ecosystem 2025 reports for both the United States and Europe by Information Services Group (ISG), a leading global technology research and advisory firm. The ISG Provider Lens™ study evaluates leading Oracle ecosystem service providers across critical capability areas, including: Professional Services Managed Services OCI Solutions and Capabilities LTM’s positioning as a Leader across key quadrants in both regions reflects its strong Oracle ecosystem expertise, AI-led transformation approach, and proven track record in delivering large-scale enterprise cloud modernization programs. In its 2025 study, ISG highlights that the Oracle ecosystem is undergoing a fundamental shift toward AI-native architectures, multicloud-by-design strategies, and asset-based delivery models, with sovereignty and regulatory compli
Bureau Veritas Strengthens Global Sustainable Finance Capabilities with Expanded Climate Bonds Approved Verifier Status26.3.2026 09:30:00 EET | Press release
Bureau Veritas, a global leader in Testing, Inspection, and Certification services (TIC), is pleased to announce the expansion of its geographical scope as an Approved Verifier under the Climate Bonds Standard and Certification Scheme. Additional offices in China, Japan, India, and France are now formally listed in the Climate Bonds Verifiers Directory. This expansion builds on Bureau Veritas’ established role since the approval of its Brazilian office in 2020, further enhancing its ability to support issuers with high-quality, independent verification services across key markets. “Our expanded presence as an Approved Verifier under the Climate Bonds Standard reinforces Bureau Veritas’ commitment to advancing credible, high‑integrity sustainable finance”, said Marc Roussel, Executive Vice President, Urbanization and Assurance at Bureau Veritas. “With verifier capabilities available across key markets, we continue to deliver local expertise with global assurance standards; boosting mark
Invivoscribe ® Expands IVDR Portfolio with IdentiClone ® Dx IGH Assay Certification26.3.2026 07:13:00 EET | Press release
Invivoscribe, a global leader in precision diagnostics and measurable residual disease (MRD) testing, is proud to announce that its IdentiClone Dx IGH Assay has received In Vitro Diagnostic Regulation (IVDR) 2017/746 Class C certification in the European Union (EU). Commercial availability of the IVDR-certified assay is anticipated by early April 2026. The IVDR replaces the former In Vitro Diagnostics Directive (IVDD), introducing significantly more stringent requirements for clinical evidence, performance evaluation, traceability, and post-market surveillance. Under IVDR, in vitro diagnostic devices are classified according to risk from Class A (lowest risk) to Class D (highest risk). Class C devices, such as IdentiClone Dx IGH, are considered high-risk tests that play a critical role in disease diagnosis and patient management. BSI (Netherlands), an EU-designated Notified Body, granted CE certification for the IdentiClone Dx IGH Assay following an independent conformity assessment un
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom