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
Andersen Global Adds Collaborating Firm NetExpat5.5.2026 16:30:00 EEST | Press release
Andersen Global strengthens its platform across Asia Pacific, Europe, and the U.S. through a Collaboration Agreement with NetExpat, a firm specializing in employee assistance, intercultural training, and leadership development for internationally mobile employees. Founded more than 25 years ago, NetExpat is a recognized leader in global mobility and talent management, supporting multinational clients worldwide. The firm provides assessment, training, and coaching programs designed to support global workforces and their relocating employees, including intercultural readiness assessments, high-impact cultural training, employee spouse career and integration support, and talent development programs for internationally oriented teams. “For more than two decades, NetExpat has focused on helping organizations and their people thrive amid international mobility,” said Alain Verstandig, co-founder & CEO of NetExpat. “Collaborating with Andersen Global allows us to amplify that commitment, brin
LTM and Uniphore Partner to Scale Domain-Specific AI Across Core Business Processes5.5.2026 16:15:00 EEST | Press release
Uniphore, the Business AI Company, and LTM, the Business Creativity partner to the world's largest enterprises, today announced a strategic partnership focused on the joint development of industry- and domain-specific AI solutions that combine small language models (SLMs), AI agents, and deep domain expertise. As AI adoption matures, enterprises are shifting to smaller, purpose‑built models and agents for greater precision and control. The partnership brings this approach to core business processes with governance, security, and compliance by design. Uniphore’s Business AI Cloud will power LTM’s BlueVerse™ ecosystem and global delivery, unifying enterprise data, models, and AI agents on a secure, sovereign platform. LTM will drive industry expertise, client implementation, and AI‑led transformation, while Uniphore provides the foundation for building and fine‑tuning domain‑specific SLMs. The partnership will initially focus on banking, financial services, and insurance (BFSI), manufact
QuantWare Raises $178 Million to Build World’s Most Powerful Quantum Processors at an Industrial Scale5.5.2026 16:00:00 EEST | Press release
QuantWare, the leading industrial quantum processor company, today announced a $178 million (€152 million) Series B equity funding round following the announcement of VIO-40K™, a quantum processor architecture for 10,000 qubits, 100x larger than the state of the art today. The company is building KiloFab, the world’s largest dedicated quantum open architecture fab, increasing the company’s production capacity by 20x to meet strong global customer demand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260505645970/en/ QuantWare co-founders Matthijs Rijlaarsdam (CEO) and Alessandro Bruno (CTO), pictured outside of QuantWare's KiloFab facility in Delft, Netherlands. QuantWare is the only company that designs, fabricates, and integrates modular quantum processors on an open architecture at an industrial scale. Its proprietary VIO™ technology — a modular Quantum Processor Architecture — allows the creation of the world’s most pow
Tacton, Award-Winning Innovation Leader, Launches AI Product Modeling Assistant to Accelerate CPQ Implementation and Eliminate Bottlenecks5.5.2026 16:00:00 EEST | Press release
Tacton, a global leader in Configure, Price, Quote (CPQ) solutions for manufacturers of complex products, today announced the launch of AI Product Modeling Assistant, a new capability designed to dramatically accelerate product modeling and remove one of the most persistent barriers to CPQ success. Tacton’s AI Modeling Assistant is part of a core innovation to its CPQ platform, earning a Gold win in the 24th Annual American Business Awards for Most Innovative Tech Company of the Year. For manufacturers with highly configurable products, product modeling is often the longest and most resource-intensive phase of CPQ implementation. It determines how quickly products can be brought to market, how much of the portfolio is available at launch, and ultimately how fast organizations realize value from their CPQ investment. At the same time, many manufacturers face increasing pressure from limited modeling expertise, workforce shortages, and the retirement of experienced engineers, making it e
Tourism Surges in Oulu as European Capital of Culture Year Drives Record Visitor Numbers and Major Exhibitions5.5.2026 15:23:00 EEST | Press release
The year has started strongly in Oulu, Finland, with tourism and cultural attendance rising across sectors. In January–February, total overnight stays increased by more than 20%, while February alone saw a 32% increase, reaching 78,400 stays. International tourism grew by over 40%. At the same time, the opening festival in January attracted around 250,000 visits, highlighting strong interest among both residents and visitors and signalling a promising year for the city’s tourism sector. “The start of the year has clearly shown the power of culture in strengthening tourism and regional vitality,” says Oulu2026 Programme Director Samu Forsblom. “With hundreds of cultural operators across all 39 municipalities involved, this is a unique year to visit our region in northern Finland.” A year of major exhibitions across the city Oulu’s exhibition programme extends beyond traditional museum spaces. Art appears in unexpected places such as a shopping centre, the city hall, a cathedral and in n
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